Commercial Loan Closer

Mountain America Credit Union; United States; On-site; USD 65,000 - 90,000; Full time

Job summary

Mountain America Credit Union is seeking an experienced commercial loan closer to manage the closing process for less complex CRE loans. You will coordinate with loan officers, underwriters, title companies, and attorneys to document, fund, and close loans within MACU and NCUA guidelines.

You will review tax returns, prepare closing documents, and maintain accurate loan files. Strong communication and organization are essential in this fast-paced environment.

Qualifications

• One year loan closing experience in a commercial lending setting preferred.
• Equivalent to a two-year college degree or equivalent experience.
• Reasonable accommodations may be made to enable individuals with disabilities to perform essential job functions.

Responsibilities

• Coordinate, package, document and fund less complex CRE loans with officers and third parties.
• Prepare closing needs lists and ensure files are documented per approvals and policy.
• Clear exceptions with title companies and ensure proper lien positions on collateral.
• Prepare all loan documents including notes, deeds, and ownership documents.
• Review IRS tax returns for accuracy and manage post-closing activity.

Skills

Written communication

Oral communication

Organization

Time management

Team collaboration

Adaptability

Problem solving

Integrity

Autonomy

Education

Two-year degree or equivalent experience

Tools

Microsoft Office Suite (Outlook, Word, Excel)

Loan origination systems

Loan documentation software

Symitar

Job description

Job Summary

Manages the commercial loan closing processes for less complex commercial loans in accordance with MACU and NCUA rules and regulations, participates in team administration functions, and participates in all aspects of the commercial lending cycle.

Job Description

To be effective, an individual must be able to perform each job duty successfully.

• Works with commercial loan officers, underwriters, borrowers, brokers, title companies, insurance agents, attorneys, and other third parties to coordinate, package, document and fund less complex structured CRE loans, which may include singular borrowers, minimal amount of guarantors, and smaller loan balances generally up to $5 million.
• Has a general understanding of CRE loan documentation and operates in accordance with the policies, procedures, and guidelines of the company and business units.
• Has a general understanding of business tax returns, personal tax returns, schedule K-1s, financial statements, and rent rolls.
• Understands and demonstrates a high level of written communication relating to loan file documentation, memorandums, and all forms of written communication.
• Reviews approved credit memos and loan files to prepare closing needs lists to satisfy all subject to requirements of the approval, properly documents the loan file, and ensures loans are closed/funded according to approval documents and MACU policy with moderate supervision.
• Communicates with commercial title companies to clear exceptions and other collateral issues to ensure MACU has appropriate lien positions on all real estate collateral.
• Prepares and files all UCC searches and filings to ensure MACU has appropriate lien positions on all UCC collateral.
• Prepares all loan documents including trust deeds, notes, borrower certifications, beneficial ownership, borrower resolutions, and loan specific documentation.
• Prepares memorandums, modifications, and administrative actions on any loans that may be assigned.
• Processes and reviews IRS tax returns for accuracy.
• Manages and prepares payoff quotes, reconveyances of trust deeds, partial releases and collateral releases during refinances on existing loans.
• Ensures accurate records are maintained in loan files including lien perfections.
• Ensures loan ticklers are properly documented and maintained.
• Tracks and clears all post-closing documentation when applicable.
• Responsible for reviewing, boarding, requesting wires, approving other closing specialist’s wires, and funding CRE loans.
• Prepares assigned origination and closing related reports in a timely and efficient manner.
• Reviews professional real estate appraisals to validate collateral accuracy and track income approach calculations.
• Ensures regular communication through the origination process with loan officers, underwriters, management, and members.
• Provides superior customer service both internally and externally with respect to commercial loans.
• Is generally able to manage up to five loan files at a given time.
• Works together with all teams to accomplish monthly, quarterly and annual goals.
• Performs other duties as assigned.

KNOWLEDGE, SKILLS, and ABILITIES

The requirements listed are representative of the knowledge, skills, and/or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential job functions.

Experience

One year loan closing experience in a progressive financial setting, working in a commercial lending setting preferred.

Education

Equivalent to a two-year college degree or equivalent experience.

Managerial Responsibility

Has no supervisory/managerial responsibilities.

Computer/Office Equipment Skills

• Intermediate skills with Microsoft Office Suite including Outlook, Word, and Excel.
• Experience with loan origination systems preferred.
• Experience with loan documentation software preferred.
• Experience with Symitar preferred.

Language Skills

• Good oral communication skills with demonstrated ability to present information in a manner appropriate for key stakeholders and all levels of the organization.
• Good writing and grammatical skills relating to preparing addendums, memorandums, and all forms of written communication.

Other Skills and Abilities

• Unquestioned personal and professional integrity.
• Ability to work both autonomously and collaboratively in a fast-paced environment.
• Self-starter with good organization and time management skills and the ability to work productively and efficiently in a fast-paced environment with multiple projects and timelines.
• Adaptive to change, responds positively to altered circumstances or conditions.
• Possess a desire and willingness to learn and continually update knowledge base on financial concepts, strategies, systems etc.
• Take initiative to be a problem solver and provide suggestions to improve processes and efficiencies.

PHYSICAL ABILITIES / WORKING CONDITIONS

Physical Demands Ability to sit, talk and hear consistently Ability to stand, walk, and use hands to handle or reach occasionally Vision Requirements Close vision (clear vision at 20 inches or less) Distance vision (clear vision at 20 feet or more) Weight Lifted or Force Exerted Ability to lift up to 10 pounds occasionally Environmental There are no unusual environmental factors (such as a typical office) Noise Environment Moderate noise (business office with computers and printers, light traffic) Mountain America Credit Union is an EEO/AA/ADA/Veterans employer.

Follow @MountainAmericaLife on Facebook and Instagram to see why our team members love working at Mountain America!

Mountain America Credit Union is one of the foremost financial institutions in the country, with more than 95 branches located in 5 states (Utah, Idaho, Nevada, Montana, and Arizona).

We believe that a healthy balance between work, home life, and play is essential to our team members and our success. We offer a friendly, comfortable and inclusive work environment, fun employee activities and exciting charity events to ensure that no day is dull at Mountain America. Our purpose is to help members enjoy a good life by providing them a positive incentive to save and manage their finances. We also give members easy access to their accounts and allow them to control their funds in a variety of ways, including ATMs, online home banking, mobile banking, direct deposit, automatic payment options and access through a large branch network. When making decisions, we always put members' needs first. It's just the way we do business and a part of the "people helping people" philosophy of credit unions.