Closing Specialist II

Flagstar Bank•Hicksville, OH

11d•$68,099 - $103,172•Onsite

About The Position

The Closing Specialist II performs closing clearance due diligence file reviews for standard and at times, complex transactions for multi-family & commercial real estate loan files to facilitate clearance to close. This role serves as the main liaison between lending, legal and third-party providers. The Closing Specialist II ensures full alignment with credit approval terms and leads coordination of all activities leading to successful loan funding and booking. Provides support to Loan Closing Manager & performs all responsibilities in accordance with the Bank’s policies and procedures.

Requirements

High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent.
Minimum experience required: 4+ years commercial real estate industry or banking experience
Knowledge of real estate, loan documentation, and mortgage terminology.
Strong PC skills with proficiency in Microsoft Office, including Word and Excel and database management
Strong verbal and written communication skills.
Superior analytical & customer service skills.
Proactive risk approach
Strong problem solving and conflict resolution skills
Excellent organizational skills with the ability to prioritize and manage varied workload.
Ability to work independently as well as flexibility to work as part of a team.
Ability to work in a fast-paced environment.
Ability to lead closings and solve problems independently
Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.

Nice To Haves

Undergraduate Degree (4 years or equivalent)
Paralegal experience.
Knowledge of bridge, participation/syndication and swap loans a plus
Prior compliance experience a plus.

Responsibilities

Performs review of more complex multi-family, commercial and construction/development real estate loan files prior to closing for required documentation and conformance with established policies and procedures.
Act as the lead closing contact for the Relationship Manager, credit Product Specialist, Relationship Associate and Legal following loan approvals. Manage all activities and address escalations to ensure smooth execution
Review key closing compliance requirements including flood, Reg B, AML and credit approvals
Prepare and update internal checklists to facilitate the clearance to close
Review and analyze violations and certificates of occupancy on an as needed basis.
Reviews draft loan documents ensuring all loan terms are accurately reflected
Prepares the Closing Review Form which is a summary of loan terms for use by Closing Counsel & Loan Operations
Independently manage a portfolio of loan closings
Conduct quality control review of documents uploaded to loan origination system to ensure all documents are uploaded correctly prior to loan closing and boarding.
Calculate final closing costs and fees associated with each transaction
Follow up with Relationship Managers, Credit Project Specialists, Relationship Associates, & Bank Attorneys to ensure that all closing conditions and missing documentation is received prior to closing.
Reviews bank’s internal data in the computer system of record for accuracy
Determine closing requirements & assess closing timeframes
Email written authorization to close to Closing Counsel and Flagstar team members
Coordinate closing aspect of loan renewals, modifications and extensions in a similar manner to new loan closings
Advise various bank team members on the correct way to document a file in accordance with bank policies & procedures.
Assists various internal banking departments in the release of coop units for unsold share loans
Respond to post-closing inquiries from other departments
Responsible for compliance with all applicable Federal, State and Local rules and regulations.
Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.