COMMERCIAL LOAN PROCESSOR/CLOSER

7 17 Credit Union•Streetsboro, OH

1d•Onsite

About The Position

The Commercial Loan Processor/Closer is responsible for processing and closing commercial loans, including real estate secured, non-real estate secured, and unsecured loans. This position works closely with members, loan officers, title companies, attorneys, and other third parties to support a smooth, accurate, and timely loan closing process while ensuring compliance with applicable regulations, policies, and procedures. All job positions at 7 17 Credit Union may be assigned further duties with or without notice, verbally or in writing.

Requirements

High school diploma or equivalent required.
At least 3 years of experience processing, underwriting, closing, or servicing commercial loans.
Strong experience with reports and documentation relevant to commercial lending, including business entity documentation, loan closings, lien perfection, and ongoing loan monitoring.
Thorough understanding of payment transactions, loan amortizations, new loan processing requirements, portfolio maintenance, and error recognition and correction.
Proficient knowledge of commercial loan structures, including loan participations, lien perfection, regulatory compliance, and document management.
Proficiency with Microsoft Excel and Word to prepare loan presentations, closing packets, and related documentation in a timely manner.
Excellent communication skills and the ability to work with others in a friendly, courteous, and efficient manner.
Customer service mindset, including teamwork, commitment, patience, enthusiasm, creativity, active listening, comprehension, initiative, cooperation, attention to detail, and resourcefulness.
Professionalism, including confidence, good judgment, appropriate demeanor and appearance, and the ability to interact effectively with employees and members.
Strong problem-solving, decision-making, time management, interpersonal communication, and organizational skills.
Ability to maintain extensive contact with applicants and members while conducting relationships in a professional manner that supports the credit union’s service and marketing efforts.
Demonstrated accuracy, thoroughness, and attention to detail while working in a fast-paced environment.
Must keep members’ documents, financial information, transactions, and other credit union business in strictest confidence.

Nice To Haves

Occasional travel to vendors or business customers may be required.

Responsibilities

Order and obtain third-party services and member information needed to close commercial loans, including appraisals, appraisal reviews, title work, surveys, flood certificates, insurance, condominium documentation, environmental reports, and other documentation required to clear conditions to close.
Ensure required information is complete and organized in the loan file, including the commercial application, approved credit memo, appraisal, flood certificate, title work, and environmental reports.
Follow the clear-to-close process to ensure commercial loans are closed timely and in accordance with the credit approval memorandum.
Review approvals, verify conditions are satisfied, obtain required information, and confirm data accuracy.
Keep all parties informed regarding file status, pending items, timelines, and outstanding requirements needed to close.
Prepare loan documents using document preparation software or coordinate with outside counsel when attorney-prepared documents are required.
Ensure documents include appropriate signature blocks for business entities and that beneficial ownership information is properly completed.
Create full commercial loan packages, including notes, loan agreements, resolutions, guarantees, security agreements, mortgages, assignments of rents, errors and omissions, disbursement authorizations, agreements to provide insurance, and other required documents.
Review title commitments and settlement statements, resolve Schedule B exceptions, and confirm credit union fees are accurately listed.
Coordinate loan closings with title companies, borrowers, loan officers, and other involved parties.
Provide funding instructions to the Commercial Loan Administrator.
Ensure liens are perfected by verifying mortgages and assignments of rents are recorded, UCCs are filed, and titled collateral lists the credit union as lienholder.
Track and resolve post-closing exceptions.
Maintain pipeline tracking and exception logs.
Back up other Commercial Loan Operations positions as needed.
Assist with regulatory and external audits and exams.
Keep job processes and procedures current.
Stay current on regulatory changes to support compliance and respond to inquiries from auditors and regulatory agencies as necessary.
Perform all duties in compliance with Federal and State regulations, 7 17 Board policies, departmental procedures, and credit union procedures.