Commercial Loan Closer

Mountain America Credit Union•Sandy, UT

About The Position

Manages the closing process for less complex commercial loans in accordance with Mountain America Credit Union and NCUA rules and regulations. The role also participates in team administration and all aspects of the commercial lending cycle. It works with commercial loan officers, underwriters, borrowers, brokers, title companies, insurance agents, attorneys, and other third parties to coordinate, document, and fund structured commercial real estate loans, generally up to $5 million, with relatively straightforward borrower and guarantor structures. The position operates with moderate supervision and is generally able to manage up to five loan files at a time. The Commercial Loan Closer reviews approved credit memoranda and loan files, prepares closing requirements, and ensures loans are documented and funded according to approval documents and company policy. The role handles loan documentation, lien searches and filings, collateral and title matters, funding and wires, post-closing documentation, payoff quotes and releases, loan records and ticklers, assigned reports, and appraisal reviews. It maintains regular communication with internal teams and members and provides customer service throughout the commercial loan origination process.

Requirements

One year of loan-closing experience in a progressive financial setting.
Equivalent to a two-year college degree or equivalent experience.
Intermediate skills with Microsoft Office Suite, including Outlook, Word, and Excel.
Good oral communication skills, including the ability to present information appropriately to key stakeholders and all organizational levels.
Good writing and grammatical skills for preparing addendums, memoranda, and other written communications.
Unquestioned personal and professional integrity.
Ability to work autonomously and collaboratively in a fast-paced environment.
Organization and time-management skills, with the ability to work productively and efficiently across multiple projects and timelines.
Ability to adapt to change and respond positively to altered circumstances or conditions.
Willingness to learn and continually update knowledge of financial concepts, strategies, and systems.
Initiative and problem-solving ability, including providing suggestions to improve processes and efficiencies.
Ability to sit, talk, and hear consistently; stand, walk, and use hands to handle or reach occasionally; and lift up to 10 pounds occasionally.
Close vision and distance vision.

Nice To Haves

Experience working in a commercial lending setting.
Experience with loan origination systems.
Experience with loan documentation software.
Experience with Symitar.
General understanding of business and personal tax returns, Schedule K-1s, financial statements, and rent rolls.

Responsibilities

Coordinate, package, document, and fund less complex structured commercial real estate loans with loan officers, underwriters, borrowers, brokers, title companies, insurance agents, attorneys, and other third parties.
Apply a general understanding of commercial real estate loan documentation and follow company and business-unit policies, procedures, and guidelines.
Review approved credit memoranda and loan files, prepare closing needs lists, satisfy approval conditions, document files, and ensure loans are closed and funded according to approval documents and policy.
Communicate with commercial title companies to clear exceptions and collateral issues and ensure appropriate lien positions on real estate collateral.
Prepare and file UCC searches and filings to ensure appropriate lien positions on UCC collateral.
Prepare loan documents, including trust deeds, notes, borrower certifications, beneficial ownership documents, borrower resolutions, and loan-specific documentation.
Prepare memoranda, modifications, and administrative actions for assigned loans.
Process and review IRS tax returns for accuracy.
Manage and prepare payoff quotes, reconveyances of trust deeds, partial releases, and collateral releases during refinances of existing loans.
Maintain accurate loan-file records, including lien perfections, and properly document and maintain loan ticklers.
Track and clear post-closing documentation when applicable.
Review and board loans, request wires, approve other closing specialists’ wires, and fund commercial real estate loans.
Prepare assigned origination- and closing-related reports in a timely and efficient manner.
Review professional real estate appraisals to validate collateral accuracy and track income-approach calculations.
Maintain regular communication throughout origination with loan officers, underwriters, management, and members.
Provide superior customer service internally and externally regarding commercial loans.
Work with all teams to accomplish monthly, quarterly, and annual goals.
Perform other duties as assigned.