Senior Commercial Loan Closer
Reinvestment Fund•Philadelphia, PA
•Hybrid
About The Position
Reinvestment Fund is seeking a Senior Commercial Loan Closer to support the Senior Closing Manager and the Credit and Lending Administration Department while working closely with the Credit and Lending Administration Department in managing the day-to-day operations for loan closing, from collection of loan documentation, and overall loan closing functions. This role is a great opportunity for an experienced commercial loan closer to step in as subject matter expert, work on high impact projects, and help elevate a growing team in a mission-driven organization.
Requirements
- Bachelor’s degree (finance, real estate, construction management, or related field preferred) or equivalent experience.
- 8+ years of experience with commercial loan transactions.
- Understanding of commercial lending, documentation and applicable laws and regulations (i.e., entity documents and the ability to determine authorization and signers).
- Proven ability to communicate professionally and diplomatically with internal and external customers.
- Demonstrated ability to manage high pressure situations.
- Detailed oriented, with strong organizational skills and a demonstrated ability to work on multiple transactions simultaneously.
- Ability to define problems, collect data, establish facts, and draw valid conclusions.
- Excellent verbal and written communication skills.
- Proficiency in MS Office, especially Excel.
- Proficiency in electronic file storage and collaborative document management (such as SharePoint, OneDrive, Synergy, Smartsheet, etc.).
- Ability to foster positive productive working relationships.
Nice To Haves
- Knowledge of construction loan documentation in a commercial real estate lending environment.
- Registered Notary (or willing to obtain designation upon hire)
Responsibilities
- Prepare and manage loan closing checklist, tracking of legal costs, and attorney vendor management.
- Process searches and KYC due diligence for all related loan parties.
- Review loan documents for compliance with credit approval, credit policy, internal guidelines and State and Federal regulations.
- Work with Loan Officer, Commercial Loan Closer, Senior Closing Manager, and counsel to address discrepancies.
- Review all due diligence materials, identify, and resolve barriers to closing, which may include but not be limited to necessary insurance coverage, title endorsements, outstanding liens or clouds on title requiring resolution, outstanding taxes, and judgments against parties or property.
- Collect and review insurance, ensuring compliance with loan requirements.
- Track third-party costs and borrower deposits associated with closing.
- Schedule and coordinate loan closing with all parties and create/review HUD-1, closing protection letter and closing instruction letter.
- Ensure that all required documents are obtained at closing; collect and deliver original documents to secured file room as needed.
- Communicate funding needs to the Finance department.
- Oversee the timely payment of pre-closing and closing invoices.
- Prepare and coordinate closing disbursements.
- Quality control for loan file and preparation for upload to document management system (Synergy).
- Generate a closing exception report and follow-up for post-closing exception tracking.
- If relevant, oversee transfers of documents to and from authorized custodians.
- Other duties as assigned.
Benefits
- employer-paid health, disability, and life insurance
- 401(k) savings plan with employer match
- flexible spending accounts (medical, dependent care and transportation)
- tuition reimbursement
- paid time off
- EAP program
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What This Job Offers
Job Type
Full-time
Career Level
Senior
