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Commercial Loan Closer

2 months ago


Los Angeles, California, United States IDB Full time
Company Overview

IDB Bank has been dedicated to serving our clients for over 70 years, prioritizing their needs above all. Our success is attributed to our exceptional team, comprised of talented professionals who foster a collaborative environment and are committed to delivering outstanding service. We provide a robust benefits package that includes generous paid time off, immediate eligibility for medical coverage, and participation in our 401(k) plan from day one. Our commitment to diversity and inclusion ensures that every team member has an equal opportunity to thrive and contribute meaningfully in a respectful and welcoming workplace.

Position Summary

The Loan Closer plays a critical role in the efficient and precise closing of commercial loans. This position requires collaboration with multiple departments, preparation of closing documentation, and oversight of the closing process to ensure adherence to bank policies and regulatory standards.

Key Responsibilities:
  • Draft and assess closing documents for various commercial loans, including CRE, Construction, C&I, and unsecured lines of credit.
  • Work closely with underwriting, legal, compliance, and other teams to confirm that all conditions are satisfied before closing.
  • Independently review the preliminary title report, address any issues, and request necessary endorsements for the final policy.
  • Engage with borrowers, attorneys, and third parties to ensure seamless loan closings.
  • Verify that all loan documentation is complete and accurate.
  • Manage the closing schedule and coordinate closing dates.
  • Conduct thorough final reviews and quality checks on closing packages.
  • Ensure compliance with all regulatory mandates and internal policies.
  • Address any challenges that may arise during the closing process.
  • Maintain precise records of closed loans and update loan management systems accordingly.


Qualifications:
  • Bachelor's degree in finance, business administration, or a related discipline.
  • A minimum of 5 years of experience in commercial loan closings.
  • Comprehensive understanding of commercial loan products and closing protocols.
  • Exceptional organizational, communication, and problem-solving abilities.
  • Capability to handle multiple tasks and meet deadlines effectively.


Preferred Qualifications:

- Paralegal certification or relevant legal experience.

Compensation:

The anticipated annual salary for this role ranges from $85,000 to $110,000, determined based on individual skills and experience. In addition to the base salary, our total rewards package includes eligibility for an annual bonus, comprehensive medical, pharmacy, dental, and vision plans, life and disability insurance, an employee wellness program, retirement savings plans with employer contributions, generous holiday and paid time off policies, parental leave, and tuition reimbursement.

Additional Information

IDB Bank is committed to providing reasonable accommodations to employees to enable them to perform their essential job functions, except where such accommodations would cause undue hardship. Employees with known mental or physical disabilities, pregnant individuals, victims of domestic violence, and those with religious observance obligations may request accommodations through their supervisor or Human Resources. The Bank will engage in a good faith dialogue regarding accommodation needs and potential solutions.

Disclaimer

The information provided above is intended to outline the general nature and level of work performed by individuals in this role. It is not an exhaustive list of all responsibilities, duties, and skills required. Employees may be required to perform additional tasks as needed.

All information will be kept confidential in accordance with EEO guidelines.

IDB Bank is an equal opportunity employer, providing employment opportunities without regard to race, color, religion, sex, sexual orientation, national origin, age, disability, genetic status, citizenship status, marital status, military or veteran status, or any other legally protected category.