Loan Closer

$75,000 - $90,000/Yr

Flushing Savings Bank - Uniondale, NY

Full-time

Uniondale, NY

Credit Intermediation and Related Activities

About the position

Manage Business Banking Loan Closing Process from Pre-Closing to Funding by interfacing with internal and external clients. Review of all data fields in Loan Vantage for Line's of Credit, Term Loans and Owner-Occupied Real Estate loans.

Responsibilities

• Identify and approve all closing documentation for various types of loans to ensure compliance with loan approval process as well as Bank Policies and Procedures.
• Ensure all due diligence is completed, and all collateral is perfected appropriately. Calculate loan payments and confirm that DSC and LTV are accurate.
• Review and analyze the required due diligence to include but not limited to, title policies, violation searches, UCC searches, flood determinations, appraisals, and purchase contracts.
• Communicate with attorney and CRM to clear any outstanding matters to get the loan closed.
• Confirm Insurance documents are in accordance with Bank's Insurance policy and coverage amounts have been met.
• Perfect collateral positions and UCC Filings to protect the Bank's security interest.
• At times, prepare closing documentation for LOC and Term loans under $2.5MM.
• Function as a liaison with the Outside Counsel/BB's/CRM's.
• Validate and certify the accuracy of all CECL data fields in Loan Vantage before submitting to Loan Servicing.
• Monitor Good Faith and Commitment Fees; reconcile General Ledger.
• Develop policies and procedures to conform to best practices.
• Stay abreast of all bank policies and procedures, as well as all applicable state and federal regulations.
• Compile and produce monthly reporting regarding loan volumes and fees for Senior Management and Accounting.

Requirements

• Bachelor's Degree
• A minimum of 5 to 8 Years of closing experience with expertise in Due Diligence documentation
• Strong understanding of Credit Policy
• Knowledge of lending operations preferred
• Paralegal experience preferred

Benefits

• Eligible for overtime if the hours worked are over 40 hours.