What are the responsibilities and job description for the Loan Closing Specialist position at New Edge Associates a Talent Acquisition Firm?
This is a banking position
This role is responsible for coordinating and managing the loan closing process, ensuring all credit approval conditions, due diligence requirements, and documentation are completed accurately prior to funding.
The ideal candidate will have experience with commercial and/or real estate loan closings, secured transactions, and regulatory compliance requirements. This individual will work closely with lenders, attorneys, paralegals, and internal departments to ensure loans are closed efficiently, accurately, and in accordance with bank policies and regulatory standards.
Job Requirements
- Review credit approvals, commitment letters, and loan documentation to determine closing requirements and due diligence needs
- Prepare and maintain closing checklists for assigned loan transactions
- Open, organize, maintain, and update electronic loan closing files
- Coordinate with loan officers, attorneys, paralegals, title companies, and internal departments throughout the closing process
- Monitor outstanding closing conditions and follow up to ensure timely receipt of required documentation
- Review due diligence items including title reports, insurance documentation, legal documents, and collateral requirements
- Prepare insurance requirement letters and review insurance coverage for compliance with loan requirements
- Calculate escrow requirements and prepare amortization schedules
- Review loan documents for accuracy and consistency with approved loan terms and bank procedures
- Prepare loan documentation for unsecured loans, CD-secured loans, UCC loans, and other assigned transactions
- Assist with weekly pipeline, funding, and closing reports
- Ensure compliance with RESPA guidelines, internal policies, and regulatory requirements
- Support special projects and additional closing department initiatives as assigned
Job Qualifications
- Bachelor’s Degree required or equivalent combination of education and related experience
- Minimum 2 years of secured transaction, real estate, and/or loan closing experience required
- Experience with commercial loan closings preferred
- Knowledge of RESPA guidelines and loan closing compliance requirements
- Understanding of secured transactions, commercial lending documentation, and real estate lending concepts
- Experience reviewing loan documents, insurance requirements, title work, and closing conditions
- Proficiency in Microsoft Word and Excel required
- Experience with LaserPro and Encompass preferred, but not required
- Strong attention to detail and organizational skills
- Excellent written, verbal, and interpersonal communication abilities
- Ability to manage multiple transactions and deadlines in a fast-paced environment
- Ability to work independently and collaboratively with internal and external stakeholders
Salary : $57,000 - $70,000