Commercial Loan Closing Specialist

1 week ago

Austin, Texas, United States Southside Bank Full time
Job Overview

Position Title: Loan Closer (Commercial)

Exempt Status: Non-Exempt, Full Time Hourly

Reports to: Commercial Lender

Location: Austin Domain

Benefits:

  • Comprehensive Medical, Prescription Drugs, Dental, and Vision Insurance
  • Eligibility for Insurance for Team Members and Dependents Starting on the First Day of Employment
  • 401(k) Plan with Company Match
  • Basic, Voluntary, and Dependent Life Insurance
  • Generous Paid Time Off
  • Paid Bank Holidays
  • Workplace Wellness Initiatives
  • Employee Assistance Programs
  • Tuition Reimbursement Opportunities

Job Summary: Responsible for ensuring the precision and completeness of loan documentation. Manages all phases of the loan closing process, including document examination, and aids in post-closing document management and portfolio oversight. Executes administrative tasks and support functions. Reviews and prepares commercial and residential draw requests from clients and processes them for the approval of the commercial lender.

Key Responsibilities:

  • Compiles and verifies the accuracy of loan documentation, ensuring that loan files include documents with appropriate signatures, dates, and other pertinent information.
  • Confirms that all sanctioned loan terms are incorporated in the loan documents.
  • Monitors deposit account openings, arranges property appraisals, orders flood certificates, prepares beneficial ownership forms, reviews insurance certificates, and tracks bank reviews of appraisals and environmental assessments, while coordinating the collection of documents on the closing checklist.
  • Ensures accurate booking and coding on all loans in relation to the transaction and prepares the post-closing checklist as necessary.
  • Reviews documents for correct legal descriptions, closing dates, and signatures.
  • Performs tasks requiring knowledge of departmental policies and procedures as well as financial institution products and services.
  • Prioritizes loan processing based on customer closing deadlines and the completeness of information submitted by the lender and customer.
  • Communicates with clients and attorneys throughout the closing process.
  • Requests additional information from external sources as required.
  • Handles routine administrative duties, including loan reporting exception collection, package delivery and mailing, notarizing documents, expense reporting, loan officer call reports, and pipeline updates, while providing telephone support, screening visitors, and scheduling meetings and appointments.
  • Requests inspection reports from third-party inspectors.
  • Reviews draw summaries from borrowers and verifies the accuracy of supporting documentation such as invoices and change orders.
  • Orders necessary documentation from title companies to facilitate the draw process.
  • Funds draws and collaborates with loan servicing to fulfill requests.
  • Maintains communication with borrowers throughout the draw process.

Additional Responsibilities:

  • Processes correspondence, maintains files, and performs specific duties for management staff.
  • Ensures confidentiality of all sensitive bank information.
  • Adheres to all safety policies, practices, and procedures, reporting any unsafe activities to supervisors or Human Resources.
  • Engages in proactive team efforts to achieve departmental and organizational objectives.
  • Provides leadership to others through example and knowledge sharing.
  • Performs other duties as assigned.

Required Education/Experience:

  • Associate degree (A.A.) or equivalent from a two-year college or technical school; or three years of related experience and/or training as a Loan Processor or Loan Closer within Texas markets.

Essential Skills:

  • Ability to read and comprehend loan documents.
  • Possesses a working understanding of applicable governmental banking regulations.
  • Ability to communicate effectively with groups of managers, clients, customers, and the public.
  • Ability to apply basic algebra and geometry concepts.
  • Basic understanding of real estate terminology and concepts.
  • Ability to identify problems, gather data, establish facts, and draw valid conclusions. Capable of interpreting a wide variety of technical instructions and managing abstract and concrete variables.
  • Proficient in personal computer skills, including email, record-keeping, routine database activities, word processing, spreadsheets, graphics, and ability to learn and operate various bank software systems.
  • Capable of managing multiple projects simultaneously.

Physical Activity/Dexterity:

  • Manual dexterity sufficient to handle items and work with fingers.

Physical Environment Demands:

  • Must be able to remain stationary for 90% of the time.
  • Occasionally moves about the office to visit other departments, conference rooms, and office equipment.
  • Constantly operates a computer and other office productivity machinery.
  • Frequently communicates with others throughout the day, exchanging accurate information.

Working Conditions/Environment:

  • Well-lit, climate-controlled indoor office environment with adequate ventilation.
  • Moderate noise levels typical of a business office with computers and printers.

Work Schedule/Hours:

  • Monday through Friday; standard business hours.
  • Available for overtime as needed.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities:

The contractor will not discharge or discriminate against employees or applicants based on inquiries regarding pay or the pay of other employees or applicants. Employees with access to compensation information cannot disclose this information unless required by law or in response to a formal complaint.

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