What are the responsibilities and job description for the Commercial Loan Closing Administrator position at East West Bank?

Introduction

Since 1973, East West Bank has served as a pathway to success. With over 110 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates’ potential for career advancement.

Headquartered in California, East West Bank (Nasdaq: EWBC) is a top-performing commercial bank with a strong foundation, an enterprising spirit and a commitment to absolute integrity. East West Bank gives people the confidence to reach further.

Overview

We are currently seeking a Commercial Loan Closing Administrator. The Commercial Loan Closing Administrator is an in-office role and is responsible for performing the tasks related to loan closing/funding, callback/QC of loans booked, as well as liaison among internal and external parties, such as lending units, loan servicing and third-party closing agents including attorneys.

Responsibilities

Function as a liaison between portfolio managers, underwriters, escrow, title, closing agents, attorneys, and all interested parties to coordinate closing and funding activities. Coordinate with loan documentation department and loan funding department throughout the process. Collaborate with customers, outside counsel & Portfolio Managers/Underwriters to obtain all necessary documents needed for closing and funding.
Communicate with commercial lending officers, portfolio managers/underwriters or other office personnel, attorneys. Ensure all pre-funding requirements are met.
Collaborate with Outside Counsel, lending staff, credit supervision, and compliance, to ensure compliance with all applicable policies and procedures in support of Loan Closing
Ability to troubleshoot closing related issues.
Read loan documents to ensure consistency with our approval.
Set up loan documentation and funding request onto the Bank’s internal loan closing/funding system. Prepare outside counsel consistency letter.
Coordinate the receipt and distribution of due diligence items. Maintain and manage the closing checklist to ensure that closing counsel and internal parties have received all required documents to review and close the loan. Maintain a critical schedule and monitor all parties involved in the closing/funding process to ensure deadlines are met. Maintain checklists of client requirements.
Coordinate with portfolio managers/underwriters, borrowers, third party agencies and internal departments to make sure items are submitted in a timely manner related to closing. Maintain loan files during the closing process. Call back loan folders to ensure files are completed post-closing. Provide necessary items and loan documents to loan closing department post-closing. Provide necessary items for law firms to prepare closing binders. Pursue the resolution of various issues during the due diligence/closing process. Communicate East West Bank’s due diligence requirements with borrowers such as insurance requirements.
Prepare internal closing fee schedule as applicable. Provide information needed to funders and our Escrow agents for closing statements .
Ensure proper internal approvals obtained during each phase of the closing/funding process. Follow-up on receipt of the original executed loan documents, as well as any other post-closing obligations.
Monitor internal third-party costs throughout the closing process. Ensure payment of third-party consultants (including legal) at closing.
May perform other duties as assigned

Qualifications

Bachelor’s degree in finance or accounting preferred or equivalent experience.
2 years of related experience in commercial loan documentation, funding and closing.
Strong data entry skills and accuracy required.
Working knowledge of rules, regulations and policies concerning banking services, particularly with commercial lending and related loan documentation
Ability to prioritize and multi-task in a high-pressure fast paced environment.
Knowledge of and ability to interpret LaserPro or outside counsel-prepared commercial loan documents is a plus.
Proficient in Microsoft Excel
Knowledge of all aspects of loan documentation specifically those prepared by Attorneys
Effective Professional interpersonal, written, and verbal communication skills

Applicants must have legal authorization to work in the United States. We do not offer visa sponsorship at this time.

Compensation

The base pay range for this position is USD $24.00/Hr. - USD $34.00/Hr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.

Salary : $24 - $34

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Commercial Loan Closing Administrator

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