ZipApply

Commercial Loan Closing Coordinator

Strategic Banking Partners, Inc. Germantown, MD, USA

Compensation

$25 to $45 Hourly

Employment Type

Contractor

Why Work Here?

“Seeking individuals interested in providing support to small businesses and community banks, offering flexible hours, remote contract work.”

Monitor and Coordinate commercial loan closing activities and track closing tasks to ensure commitments are responded to appropriately and within the schedule of the requesting financial institution and the documented contractual requirements.

Role/Responsibilities

  • Responsible for SBA Commercial loan documentation review and assisting borrowers and clients through the closing process for SBA loans.
  • Work directly with lender relationship managers (RM), borrowers, legal counsel, title companies, insurance agents, and vendors to ensure closing requirements are met and necessary due diligence is obtained.
  • Reviews moderately complex loan documentation, loan terms and financial elements for accuracy and consistency with the credit approvals and SBA requirements.
  • Ensures documents are prepared in compliance with credit policy, documentation standards, regulatory requirements and SBA SOP requirements.
  • Responsible for ensuring waivers or deviations from bank or SBA policy are adequately documented and approved.
  • Work with attorneys to ensure loan documents are prepared in accordance with credit approval as well as SBA and Bank requirements.
  • Interact with clients, collecting, reviewing and distributing due diligence items necessary for an SBA loan closing.
  • Notify the responsible party of items missing items or required corrections and ensures attorney closing checklist is accurate.
  • Confirm budget, escrow closing statements and bank settlement statements are in balance, ensuring fees and expenses are accounted for and outstanding items are identified.
  • Ensure appropriate approval and/or waivers and exceptions are obtained.

Essential Duties and Responsibilities

  • Maintain historical files with requests for information from borrowers and client information and update files when information is received in ShareFile
  • Demonstrate a satisfactory understanding of and adherence to standard confidentialities as they relate to the specific job duties assigned
  • Consistently apply superior decision making techniques pertaining to inquiries, approvals and requests as they apply to existing policies and procedures, keeping within assigned responsibilities
  • Demonstrate a satisfactory understanding of and adherence to individual client service level agreements and SBP customer service policies