Commercial Loan Documentation Specialist

1 week ago

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

Position Title: Loan Closer (Commercial)

Employment Status: Non-Exempt, Full Time Hourly

Reporting To: Commercial Lender

Location: Austin Domain

Benefits Offered:

  • Comprehensive Medical, Prescription Drugs, Dental, and Vision Insurance
  • Eligibility for Insurance Coverage for Team Members and Dependents from Day One
  • 401(k) Plan with Employer Match
  • Basic, Voluntary, and Dependent Life Insurance
  • Generous Paid Time Off
  • Paid Bank Holidays
  • Wellness Programs for Employees
  • 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 evaluation, 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 facilitates approval from the commercial lender.

Key Responsibilities:

  • Compiles and verifies the accuracy of loan documentation, ensuring that loan files are complete with necessary signatures, dates, and relevant information.
  • Confirms that all sanctioned loan terms are incorporated into the loan documents.
  • Monitors deposit account initiation, organizes property appraisals, orders flood certificates, prepares beneficial ownership forms, reviews insurance documentation, and coordinates the collection of documents on the closing checklist.
  • Ensures appropriate booking and coding on all loans and prepares the post-closing checklist as required.
  • Reviews documents for correct legal descriptions, closing dates, and signatures.
  • Performs tasks requiring knowledge of departmental policies and financial institution products and services.
  • Prioritizes loan processing based on customer closing timelines and the completeness of information provided by the lender and client.
  • Communicates with clients and attorneys throughout the closing process.
  • Requests additional information from external sources as necessary.
  • Handles regular 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 and scheduling meetings.
  • Requests inspection reports from third-party inspectors.
  • Reviews draw summaries from borrowers and verifies the accuracy of supporting documents such as invoices and change orders.
  • Orders necessary documentation from title companies to process draws.
  • 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.
  • Ensures confidentiality of all sensitive bank information.
  • Adheres to all safety policies and procedures, reporting unsafe activities to supervisors or Human Resources.
  • Engages in proactive team efforts to meet departmental and organizational objectives.
  • Demonstrates leadership by example and shares knowledge and skills with others.
  • Completes other duties as assigned.

Required Qualifications:

  • Associate degree (A.A.) or equivalent from a two-year college or technical school; or three years of relevant 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 knowledge of applicable banking regulations.
  • Capable of communicating effectively with managers, clients, customers, and the public.
  • Ability to apply basic algebra and geometry concepts.
  • Basic understanding of real estate terminology and concepts.
  • Skilled in problem-solving, data collection, fact establishment, and drawing valid conclusions.
  • Proficient in personal computer applications including email, record-keeping, database management, word processing, and spreadsheets.
  • Able to manage multiple projects simultaneously.

Physical Requirements:

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

Work Environment:

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

Work Schedule:

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

Equal Opportunity Employer: Southside Bank is committed to providing equal employment opportunities to all employees and applicants.

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