Loan Closer/Document Specialist

• Position Overview:

The Loan Closer performs a variety of duties related to the documentation, closing, and processing of new, renewed, and restructured loans. The position identifies, prepares and assembles documents to close loans. The Loan Closer will order flood determination certificates as required and is responsible for confirming lien positions of collateral thereby ensuring the conditions of the credit approval are met. The incumbent will order title policies, UCC lien searches, and verify financial assets to be pledged by obtaining current account statements. Loan documents will be prepared using the bank’s loan documentation system (Laserpro), or on certain credits by outside bank legal counsel. The Loan Closer will coordinate with bank legal counsel as needed. The Loan Closer is responsible for providing exceptional customer service (internally and externally) while adhering to Bank policies and controls. Working knowledge of loan regulatory and compliance requirements are essential key requirements.

Essential Duties and Responsibilities:

• Contact borrowers and attorneys as needed to obtain documentation required to prepare and process approved loan documentation, including but not limited to borrower identification and organizational documentation.
• Working knowledge of loan regulatory and compliance requirements are required.
• Create collateral file maintenance documentation. Prepare initial closing checklist to share with appropriate internal and external parties and update as needed during the closing process.
• Efficiently and accurately generate loan closing packages to include preparation and assembling of all required loan documents. Ensure that closing documents reflect the terms and conditions of loan approval.
• Work with attorneys and title insurance companies to close commercial and commercial real estate loans with appropriate legal and credit / collateral file documentation.
• Work with accounting/loan operations team to properly communicate and schedule funding needs to ensure cash is available to meet customer requests in a timely manner.
• On occasion, attend lending team meetings to maintain open lines of communication with loan officers.
• Attend pipeline meetings regularly to monitor approval volume for scheduling upcoming loan closings, to communicate funding status of transactions, and to share status of loan closings.
• Work closely with the lending team to update and maintain the accuracy of the loan pipeline information in Salesforce.
• Utilize Salesforce Pipeline system to communicate loan closing information to lenders and Operations.
• Facilitate and communicate to Deposit Team of opening required savings / deposit accounts for specific loan programs.
• Setup the new loan file with all required executed loan documents and related credit memos and financial data in a constant manner for transfer to loan booking in Operations.
• Work in a proactive manner with the loan operations team to ensure all required pre-closing and post-closing documentation is accurate and in file. Revise the pre-closing and post-closing check list as warranted.
• Assist Commercial Loan Closing Manager, with closing of 3rd party lending transactions and Guarantee programs.

Education, Experience, Certifications:

• 5+ years of work experience in a commercial lending bank environment.
• Extensive working knowledge of commercial real estate lending and commercial loan documentation, loan closing procedures, regulatory requirements and accounting required.
• Proven commercial real estate loan closing experience.
• Experience with LaserPro required.
• Experience with CDFI lending
• Experience with Fiserv, or similar financial institution core system.
• Financial institution accounting or commercial loan servicing experience required.
• Must be a notary. If not currently a notary, application must be made within the first 10 days of employment at the expense of Locus.
• Experience with SBA 7a and/or 504 loans desired.
• Prior paralegal experience desired.
• Associate or bachelor’s degree preferred.

Mission/Vision/Organizational Values:

• Live and represent the values and mission of the organization – keeping diverse, equitable, and inclusive impact at the center of all efforts and execution.
• Strong analytical and interpersonal skills with a demonstrated ability to establish and maintain effective working relationship with others and successfully interact with people at all management and support levels, as well as people of diverse socio-economic backgrounds.
• Ability to organize and prioritize work activities to meet deadlines and ensure high quality work products.
• High level of adaptability and flexibility required.
• Ability to travel as required.
• Alignment with the organizational goals:
• Sensitivity to racial, gender, sexual orientation and cultural differences and treat everyone with dignity and respect.
• Effective, respectful, and timely communications with internal and external stakeholders
• Analytic, thoughtful, and strategic thinking and thoroughly aware of organizational goals and strategic direction. Must have the ability to switch roles and procedures easily to facilitate change in line with organizational priorities.
• Consider the mission, objectives, and goals of LOCUS and demonstrate an understanding of the impact of their decisions and behavior on the organization.
• Access to high-speed internet bandwidth and reasonable proximity to LOCUS or a major metropolitan airport.

Compensation and Benefits

• $56,000 – $66,000 annual salary depending on skills and experience
• Bonus opportunity if bonuses are paid in any given calendar year
• 17 days of PTO per year
• 11 Paid holidays per year
• Medical, dental, vision, short- and long-term disability insurance
• 401k savings plan with employer match
• Life Insurance
• Hybrid Remote

Locus prefers applicants from East Coast states where business relationships have already been established; they include Virginia, New York, Florida, New Jersey, West Virginia, Georgia, North Carolina, Massachusetts, and Pennsylvania. Considerations may be given to candidates from other established states such as Nebraska, Colorado, Montana, Kansas, Tennessee, and Missouri.

EEO Statement

Locus is an Equal Opportunity Employer. Locus does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or family status, national origin, non-job-related disability, or status as a veteran.