Job Summary : The Loan Closing Coordinator provides client relationship and loan management services for commercial / multifamily loans from approval through closing.

The Loan Closing Coordinator is primarily responsible for maintaining complete and correct closing documentation and they maintain positive and productive relationships with internal and external customers, including borrowers, attorneys, participating lenders, and third-party service providers.

Essential Duties and Responsibilities :

• Identifies appropriate closing diligence requirements / checklist with Loan Underwriter and outside legal counsel post-approval.
• Schedules calls with borrowers and counsel to review outstanding documentation needed to close.
• Orders third party reports, including searches, credit reports, and flood certs, and coordinates the submission of invoices for payment.
• Coordinates the creation of loan documents by counsel that reflect approved loan terms and closing conditions.
• Reviews all diligence submitted by borrower for accuracy and works with legal counsel to communicate any additional requirements to borrower and their counsel.
• Reviews closing draw requests, prepares funding reconciliation statements and wire requests.
• Obtains appropriate signatures enabling the timely execution of loan documents and submits loan documentation to investors for review and approval when required.
• Prepares timely notification to Loan Servicing and Loan Portfolio Management of loan's closing and funding and ensures that the loan files and relationships are transitioned appropriately.

Qualifications and Skills :

• Strong organizational skills.
• Ability to multi-task and effectively manage multiple projects.
• High level of detail-orientation.
• Team-orientation, high self-motivation.
• Experience closing real estate loans required.
• Knowledge of affordable housing and community development desired.
• Associate degree or equivalent work experience.

Key Competencies :

• Diversity Awareness : Identifies the benefits and advantages of harnessing the collective insights from various individuals in the organization.
• Intellectual Agility : Can flex and adapt thinking skills to meet the needs of different situations and circumstances.

Doesn't limit problem solving to one approach or methodology.

• Perseverance : Accepts uncertainty by remaining focused and engaged on assignments. Looks for plausible solutions to difficult problems.
• Resource Optimization : Applies knowledge of internal structures and existing talent to accomplish a goal.
• Customer Focus : Stays ahead of customer needs and uses insight to develop new and / or modify client services.

Reporting Relationship : Reports to Loan Closing Manager

Supervisory Relationships : None

Physical Requirements :

Ability to work on a computer for extended periods of time.

Travel Required : Up to 5%

Last updated : 2024-04-22