Loan Processor/Closer
4 weeks ago
About the ELCA
The ELCA is one of the largest Christian denominations in the United States, with 3 million members in more than 8,700 worshipping communities across the 50 states and in the Caribbean region (Puerto Rico and the U.S. Virgin Islands). With a vision to live in a world experiencing the difference God’s grace and love in Christ makes for all people and creation, the ELCA strives to be a welcoming, thriving, and connected church that introduces people to Jesus so they can discover community, justice, and love.
The Lutheran Center (national office) is located in Chicago, Illinois. A staff of 400, under the leadership of the Presiding Bishop, serve as administrators, advisors, conveners, partners, and resource people for the ELCA and its ministries. Staff lead the work of national, domestic, and global ministries and programs including Lutheran Disaster Response, ELCA World Hunger, Service & Justice, Christian Community and Leadership, and Innovation. We are also home to five of our separately incorporated ministries: The Mission Investment Fund of the ELCA, Women of the ELCA, Lutheran Men in Mission, the ELCA Foundation and the ELCA Federal Credit Union.
About the Mission Investment Fund
The Mission Investment Fund (MIF), a financial ministry of the Evangelical Lutheran Church in America, supports the establishment and growth of ELCA congregations, synods, and affiliated ministries by providing loans for capital projects for congregations and ministries. To fund these loans, MIF offers a variety of investments to ELCA members, congregations, and ministries.
The ELCA Federal Credit Union (FCU), a financial ministry of the Evangelical Lutheran Church in America, offers financial products and services to ELCA members, pastors, congregations, synods, affiliated ministries, and their employees. The portfolio of products includes low-cost loans, deposit accounts, credit cards, and other financial products, services, and solutions within a not-for-profit, cooperative structure.
Values - MIF's values are rooted in Christian faith, Lutheran traditions, and our identity as a ministry of the ELCA:
* Integrity *Customer Focus *Inclusion and Diversity* Faithful Stewardship *Courage and Openness to ChangeAbout the Position
The Loan Closer/Processor guides congregations and other ELCA ministries through the process of closing providing coaching for borrowers and timely, accurate due diligence to facilitate a successful closing while ensuring completion of all duties in compliance with MIF’s loan policy and procedures.
This is a full-time, regular, exempt (exempt), Chicago-based hybrid position. This position has responsibilities that will require being in the office on a weekly basis. This could mean 2-3 days most weeks and possibly more days when meetings and other events are happening that this position supports.
Candidates for this position must reside within the fifty United States or the District of Columbia and be authorized to work lawfully in the United States. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire.
Responsibilities
- Orders or prepares loan documents according to the credit approval, internal policies and procedures as well as various regulations upon loan approval. Reviews loan documents prior to being executed, reviews executed documents prior to funding, verifies all outstanding conditions have been met, and fund loans according to deadlines. Verifies completeness of files with all necessary documents and required signatures.
- Serves as the point of contact for ministries, title officers, escrow officers and attorneys. Works with lending staff to resolve discrepancies in collateral documentation. Performs review of commercial loan and collateral documents and loan packages to ensure MIF’s security interest and adherence to established policies and procedures.
- Sends documents to ministries for signatures. Works with ministries to ensure all proper documentation is obtained to complete the loan process. Follows up with borrowers, attorneys and title companies regarding collection of executed documents.
- Reviews all closing documents to ensure they are properly executed, recorded and received. Sends executed documents to title companies for recording.
- Prepares modifications/buydown legal documents for recording and follow-up on returned legal documents before and after recording.
- Follows up with any outstanding conditions and audit all funded files prior to submitting to the file room. Scans all necessary information and documents as outlined in the loan department procedures.
- Adheres to all policies and procedures related to customer information, security and processing.
- Serves as a primary point of contact with borrowers and build lasting relationships. Achieves and maintains general knowledge of other aspects of MIF which may include providing customer service and selling MIF products and services as needed.
- Performs other duties as required.
- Minimum 3 years of experience in commercial or residential loan processing
- Basic knowledge of lending processes and procedures, loan documentation, exceptions, collateral review, payment and loan systems. Knowledge of banking processes.
- Must have good organizational and customer service skills. Must be able to work in a team environment.
- Must possess numeric and verbal aptitudes.
Required or preferred education, certifications, or licenses:
Bachelor’s or associate degree preferred
Physical Effort: While performing the duties of this job, the employee is regularly required to talk and hear, use hands and fingers to operate a computer and telephone. This position requires sitting for long periods of time. Employee will occasionally need to lift boxes or materials up to 15 pounds. Reasonable accommodations can be made to enable individuals with disabilities to perform the essential functions.
Travel Frequency: N/A
Benefits: MIF offers a competitive benefits package for eligible employees, including employer paid health premiums for employees, health and dependent care FSA’s, a health savings account (HSA) with an employer contribution, life insurance, and a substantial employer contribution to 403b retirement plan (no match required). We also offer a generous paid time-off policy including 12 paid holidays. All benefits commence on your start date.
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