BUSINESS CLOSING OFFICER - FL

First BanCorp•The Hammocks, FL

22d

About The Position

This position coordinates and schedules commercial and corporate banking loan closing activities, ensuring that closing documents are accurate, complete, properly signed, and consistent with the Bank’s approvals, policies, and procedures. The officer reviews loan conditions and documents, obtains information needed to prepare for closing, coordinates with closing agents and borrowers, calculates funding amounts, prepares wires, and follows up on post-closing documents and conditions. The role also prepares loan files for quality control, produces monthly reports, balances specified general ledger accounts, and provides backup support within the department as needed.

Requirements

High school diploma and mortgage loan experience, or at least two years of experience as a loan processor in a mortgage company or previous banking experience with loan products.
Prior experience as a loan closer and/or loan processor.
Good understanding of financial institution products and services.
Good understanding of loan documentation and some banking experience.
Strong mathematical skills.
Good verbal and written communication skills; ability to communicate with internal and external clients.
Outstanding Excel skills and ability to generate reports in a computer system.
Attention to detail.
Ability to multitask, work as a self-starter, and work under pressure and stress.
Effective interpersonal and human relations skills.
Ability to use computers and general office equipment, including a computer terminal, calculator, copier, and fax machine.
Flexibility in working schedule.

Responsibilities

Close Commercial and Corporate Banking loan files in accordance with Bank approvals, guidelines, deadlines, policies, and procedures.
Review approved mortgage loan documents to identify conditions required before closing and review documents against commitment letters to ensure requested changes are addressed; discuss uncertainties with the manager.
Request property information and additional documents, including payoff letters, insurance, rent rolls, leases, and title documents, so closings can be prepared and scheduled.
Order environmental reports and verify whether they require further action.
Verify loan-to-value against the approval Credit Memorandum and appraisal; review insurance coverage for compliance with Bank policies and ensure flood determination is in the file.
Communicate with closing agents, borrowers, and their representatives about loan status, pending documentation, and requirements; follow up on closing contingencies and document calls and conversations.
Request OFAC and CCI reports to comply with BSA and U.S. Patriot Act regulations.
Coordinate and schedule loan closings with closing agents; verify interest rates and fees, report changes to the closing agent and supervisor, and promptly notify the loan officer and processors of material discrepancies or deviations that could affect loan quality or credit risk.
Calculate funding amounts, balance figures with closing agents based on closing statements, and prepare wires.
Ensure post-closing conditions are included in the Post-Closing Report.
Follow up on post-closing documents; obtain the closing package, title commitment, and copies of other closing documents and affidavits; follow up on delivery of original recorded mortgages, riders, other documents, and the original title policy within a prudent time.
Prepare loan files for quality control submission.
Prepare monthly Mortgage Loan Production and Documentary Stamp Reports and log all closed loans in the Mortgage Loan Production Report.
Balance the monthly Commercial Closing General Ledger Accounts.
Prepare closing documentation for unsecured or UCC-secured loans, including obtaining and reviewing a UCC search.
Send UCC filings for unsecured loans to the Secretary of State for recording.
Serve as backup in other departmental areas according to department needs.