Commercial Loan Closing Specialist

Job Description

Job Description

Commercial Loan Closing Specialist

About us :

State Bank of Texas is a privately owned, independent Bank specializing in lending solutions for the hospitality industry.

State Bank of Texas is committed to providing personal partnerships with their customers, timely loan decisions, and convenient up to date technology for their customers.

Position Summary :

Under the direction of the Credit Administration Manager and the Loan Closing Manager, the Commercial Loan Closing Specialist will perform various closing and operational department functions to ensure the efficient operation of the area.

The Commercial Loan Closing Specialist responds to internal and external customers regarding loan closing services. This position will ensure that the policies and procedures of the department are strictly adhered to, federal guidelines are followed and that all business objectives are achieved by performing the following duties.

Essential Duties and Responsibilities :

• Facilitates loan closing process, providing high quality customer service while complying with Bank Policy and Federal Regulations.
• Collect and review due diligence items necessary for a loan closing.
• Work directly with the lenders, legal counsel, title companies, and borrowers to process the loan file from origination to close.
• Experience reading and interpreting loan and legal documentation required.
• Review and comprehend loan documentation, loan terms and financial elements for accuracy and consistency with credit approvals.
• Responsible for ensuring waivers, exceptions, or deviations from policy are adequately documented.
• Notifies the lender and attorney of missing items or required corrections, ensuring the attorney closing checklist is accurate.
• Confirms escrow closing statements and bank settlement statements are accurate, fees and expenses are accounted for, and outstanding items are identified.
• Post review of attorney prepared loan documentation, including the supporting documentation.
• Ensure adherence to loan policy and regulatory requirements prior to funding.
• Maintain current knowledge of internal policies and procedures, as well as external regulatory requirements.
• Provide outstanding customer service to internal and external customers.
• Perform other duties as assigned.

Qualification Requirements

• Requires a high school diploma or its equivalent.
• 2-3 years of experience handling loan closing of commercial real estate, and interim construction loans, including SBA loans, with ability to read and interpret complex loan documents.
• Proficient in Microsoft Office Applications

We are an Equal Opportunity Employer