Commercial Loan Post Closer

POSITION SUMMARY

Completes file maintenance necessary on core system, reviews, and balances commercial loans. Uploads the loan documents to the electronic document storage system, records proper mortgage and lien documents, orders and reviews final title work, completes quality control reviews, ensures all the invoices are paid and balances each loan file upon completion.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Reviews commercial loan documents and ensures all needed documents are included and signed, which requires being onsite at the assigned office location on an as needed basis. This includes government sponsored programs according to investor guidelines, Magnifi Financial policies, procedures, and state and federal regulations.

• Uploads and cross-indexes loan documents and financials to Magnifi’s electronic storage system.

• Records mortgages, satisfactions, and subordinations for all real estate transactions and perfects liens for non real estate transactions. Verifies perfection of liens (i.e. recorded mortgages, UCC (Uniform Commercial Code) 1’s and CNS (Collateral Notification System’s) to include continuations and lien holder status on titles, which requires being onsite at the assigned office location on an as needed basis

• Verifies final loan document terms and conditions are accurate in core system.

• Verifies all invoices related to the transaction are paid and collected from the borrower at closing. Answers branch and commercial teams hunt group calls regarding commercial loan terms supported by the core and commercial post-closing status updates.

• Reviews commercial loans, including government sponsored programs, according to investor guidelines, Magnifi Financial policies, procedures, and state and federal regulations.

• Orders and reviews post-close title work to ensure lien position is properly understood and protected.

• Orders tax monitoring services for all real estate loans.

• Creates and updates departmental procedures.

• Keeps abreast of rules, regulations and Magnifi Financial policy relating to business loans.

• Shares knowledge in order to train other Commercial team members.

• Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial.

EDUCATION AND EXPERIENCE

Associate’s degree in a business-related field plus one year commercial loan or commercial deposit experience in a financial institution preferred; or equivalent knowledge and skills gained through a minimum of two years related work experience.

BENEFITS

We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):

• Opportunities for Training and Development *
• Leadership Development *
• Job Level Advancement (ability to move up in your position through training and development) *
• Tuition Reimbursement *
• 32 Hours Volunteer Paid Time Off *
• Paid Time Off - starting at 4 weeks per year for FT; prorated for PT *
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
• Paid Parental Leave
• Bonus/Incentive Program
• Health and Wellness Programs *

Pay Transparency:

Salary Range: $20.89/hr. through $31.33/hr.

Salaries vary based on factors such as location, internal equity, skills, experience, education, and qualifications for the role.

Total compensation package varies based on position and may include bonuses, performance-based incentives, commission, and/or discretionary bonuses.

Who We Are:

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth.

Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)