What are the responsibilities and job description for the Loan Closing Coordinator position at Howard-Sloan Search?
Loan Closing Coordinator
Objective :
Coordinate and execute loan closing activities, ensuring compliance with applicable regulations, credit terms, and organizational procedures for a growing portfolio of loans. Additionally, perform post-closing audits and ensure the accuracy and completeness of loan documentation.
Key Responsibilities :
Closing Coordination :
- Act as the central point of contact among clients, lenders, underwriters, external legal counsel, funding partners, USDA representatives, title insurance agents, the finance team, and the servicing team throughout the loan documentation process.
- Drive the loan closing process forward, managing all tasks from legal engagement to funding.
- Review key loan documents, including term sheets, conditional approvals, credit memoranda, USDA conditional commitments (as applicable), and attorney-prepared documents, ensuring adherence to credit and program requirements.
- Secure necessary supporting documents, such as title work, flood verifications, zoning reports, insurance policies, organizational documents, franchise agreements, and other relevant due diligence materials. Confirm legal counsel approval for required items.
- Verify borrower equity injection and ensure pre-paid project costs align with requirements.
- Maintain a complete and auditable loan file at closing.
- Oversee the application of loan deposits and the disbursement of funds, ensuring accurate allocation of proceeds and payment of all lender costs and invoices.
- Manage the return of original loan and collateral documents, including recorded items.
- Execute special projects as assigned.
- Travel as necessary.
Post-Closing Audit and Compliance :
Qualifications :
Compensation and Benefits :
Salary : $125,000 - $140,000
