What are the responsibilities and job description for the Commercial R/E and Residential Loan Closing position at New Edge Associates a Talent Acquisition Firm?
Summary:
This role involves a range of duties related to the processing, administration, servicing, and closing of new and existing loans, focusing on Commercial Real Estate Loans, Lines of Credit, Commercial Loans, and Residential Loans. The responsibilities cover multiple aspects of loan documentation and coordination, ensuring compliance with approval processes and internal procedures.
Job Classification Information
Essential Duties and Responsibilities (other duties may be assigned):
- Review commitment letters and internal approval forms to prepare or verify loan documents, ensuring compliance with the approval.
- Resolve pre-closing conditions as outlined in the commitment letters.
- Address new loan documentation and line of credit advance exceptions in accordance with guidelines; manage post-closing pending items and exceptions.
- Process loan and advance funding, including general ledger entries, debits, credits, wire transfers, internal transfers, loan payments, and resolving disbursement issues.
- Prepare pre-closing documentation for various loan types (commercial, consumer, residential), including Flood Certifications, disclosures, approval reviews, HUD-1 forms, and other necessary statements.
- Review loan packages from bank attorneys and collaborate with Credit Administration for approval before closing; advise on necessary corrections.
- Coordinate with account officers to gather required documentation and obtain BSA approval before loan closings.
- Prepare participation loan packages for selling loans to other banks, ensuring confidentiality agreements and participation documentation are processed.
- Collect and input HMDA loan data for Compliance Officer review.
- Prepare reports on closings-in-process, post-closing exceptions, and aging reports; follow up with loan officers and attorneys.
Salary : $85,000 - $90,000
