Commercial CRE Loan Closer

Job Details

Description

Who we are:

Cornerstone Capital Bank is a new bank, with over $330 million in capital and $2 billion in total assets, and arises from the combination of mortgage industry giant Cornerstone Home Lending and community banking standout Roscoe State Bank. You’ll be on the front end of working for an innovative large community bank that is a leader in mortgage lending and community banking and growing in middle-market commercial and real estate lending.

We honor God by using our talents to make a positive difference in the lives of our Team Members, Clients, Shareholders, Communities, and the People who provide services to us.

Who We Are Looking For

The Commercial CRE Loan Closer is responsible for coordinating and facilitating the closing of capital market real estate loans, ensuring compliance with banking and regulatory requirements. Duties include managing third-party reports, reviewing borrowing entity structures, verifying borrower and guarantor identification, and obtaining credit reports. Works closely with outside counsel to prepare and review loan documents, coordinates with title companies, and ensures proper insurance coverage. Maintains loan pipeline documentation, oversees disbursement of loan proceeds, and prepares closing files. Serves as a key point of contact for auditors, examiners, and borrower inquiries, while assisting in post-closing monitoring and compliance.

What You’ll Do

• Coordinate and facilitate the closing of capital market real estate loans. This includes ordering and monitoring the status of the appraisal, appraisal review, Phase I environmental report and property condition assessment, as well as any supplementary environmental reports.
• Order and review flood determinations and notify the borrower if the collateral property falls within a FEMA flood zone that requires additional flood insurance.
• Review various borrowing entity structures to ascertain the ownership percentages to complete the Certificate of Beneficial Ownership form and submit to the borrower for execution.
• Completed the OFAC status and identification verification requirements for each principal and guarantor.
• Obtain the credit reports from Equifax/Experian and D&B reports on the borrowing entity and property tenants when necessary.
• Coordinate with the bank’s outside counsel in the preparation of the various loan documents, including review of the document exhibits and entity documents.
• Maintain loan pipeline including necessary documents to close; ensure third-party reports have been received, approved and final copies issued to Bank prior to closing.
• Coordinate the receipt of insurance certificates on new loans, review for compliance with the bank’s coverage requirements and ensure receipt of corrected final certificates prior to closing.
• Coordinate with the title company regarding closing date, title company fees and wiring instructions.
• Compile documentation of closing costs, including third-party invoices, flood certificate, attorney’s fees and Bank origination fees.
• Calculate escrow amounts, including prepaid interest, property taxes and property insurance.
• Prepare closing instruction letter based on documents prepared by attorney and calculations of costs and send draft to title company for preparation of preliminary closing statement.
• Coordinate with attorney and title company regarding execution of loan documents by borrower.
• Finalize addendum to closing instruction letter and forward to title company with bank executed loan documents.
• After document signing, obtain executed loan documents, review final executed settlement statement, and prepare and send wire transfer form of the net loan proceeds to the wire department.
• Contact title company to release funds to borrowers, vendors, and other closing parties. Prepare closed loan files for imaging including checking for document compliance and completing pipeline closing document checklist.
• Upon receipt of recorded documents from the title company, prepare closing binder.
• Assist credit analysts in coordinating the request and receipt of yearly financial information required from the borrowers, assist in resolving loan file exceptions, and monitoring and updating loan file exception/review needs checklist.
• Department point contact and coordinator for auditors and examiners.
  
  

What You’ll Need To Be Successful

Success in this job relies on your time management skills, organization, and positive attitude. In addition, you’ll need the following qualifications:

• Bachelor’s degree, or equivalent work experience
• Typically three to five years of experience in commercial real estate loan administration, OR at least seven years of transferable experience in commercial loan administration
• The ability to use critical thinking skills to ensure appropriate policies, procedures, and guidelines are followed.
• Must be self-motivated, energetic, and have the ability to work independently and proactively while prioritizing workload
• Strong analytical reasoning, problem-solving and critical thinking skills
• Effective verbal and written communicator
• Must be well organized with attention to detail
• Excellent interpersonal and relationship-building skills
• Strong computer and technology-related skills
• Proficient in Microsoft Office Suite (Word, Excel, Outlook, etc.)
  
  

Travel 5%