Commercial Loan Closing Coordinator
Job Description
Job Description
We are looking for a dedicated Commercial Loan Closing Coordinator to join our team. This long-term contract position is an excellent opportunity for professionals with expertise in commercial loan processing and document review. The role requires a strong understanding of loan closing procedures and the ability to collaborate effectively with attorneys, relationship managers, and other stakeholders.
Responsibilities:
• Review and prepare pre-closing documentation for commercial loans, ensuring accuracy and compliance with all conditions and covenants.
• Organize and manage loan files, coordinate closing schedules, and act as a liaison with legal professionals and relationship managers.
• Set up loan details, including calculating required escrows, reserves, and prepaid interest, as well as preparing general ledger entries and initiating wire transfers.
• Maintain loan closing reference procedures to standardize processes for closings, modifications, and conversions.
• Process post-closing documents and reports for accurate input into the bank's systems.
• Assist with daily departmental tasks such as resolving customer inquiries and addressing problems effectively.
• Prepare and manage department reports, including pipeline and closing reports, while verifying compliance with regulations such as the Patriot Act.
• Review mortgage discharge documents for accuracy and ensure proper handling of closing disclosures.
• Minimum of 5 years of experience in commercial loan closing or a related field.• Strong knowledge of commercial loan procedures, with experience in construction loans or legal document review preferred.
• Proficiency in LaserPro software and Microsoft Excel.
• Excellent written and verbal communication skills to effectively interact with various stakeholders.
• Ability to manage a high volume of work, solve problems independently, and ensure attention to detail.
• Bachelor's degree in a relevant field is preferred.
• Familiarity with closing disclosures and other loan documentation processes.
• Strong organizational skills and the ability to perform calculations accurately.
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