The Commercial Loan Closer will support the Bank's commercial lending program by handling the necessary transactions needed to close and book approved loans.
- Support the Bank's People First focus and rules of engagement—maintaining a professional demeanor, working as an active member of the CNOB team, providing clients excellent service, always striving to make CNOB A Better Place to Be.
- Responsible for managing and administering a portfolio of loans from origination through to settlement and funding in accordance with Bank policies, procedures, and regulatory requirements.
- Analyzing internal bank loan approvals to determine required due diligence and documentation for each loan transaction.
- Ordering all searches including flood and reviewing to ensure compliance with bank policy, procedures, and regulatory requirements.
- Ensuring all collateral evaluations are ordered and reviewing of same to clear issues.
- Reviewing and ensuring all required insurance including flood is sufficient and in compliance with regulations.
- Preparation of internal pre-closing and post-closing checklist.
- Acting as liaison with lender, bank counsel and title companies.
- Reviewing loan documentation to ensure compliance with loan approval and policy and ensuring that all standard provisions are included and are not compromised.
- Coordinating receipt of closing requirements with internal departments, lender, bank counsel, borrower, and borrower's counsel.
- Confirming that all conditions within the approval have been met and scheduling closing.
- Preparing Closing Letter for Bank Counsel which includes wire break-down, fees, etc., reviewing Settlement Statements and preparing funding wires.
- Preparing Booking sheet and reviewing loan after it is booked into the system of record.
- Ensuring that all loans are closed without material, administrative or compliance exceptions.
- Following up and clearing loan documentation exceptions, approved post-closing documentation, and filed and recorded documents.
- Maintain pipeline and process approved loans in a timely manner.
- Ensure that all communications with clients are positive. Escalate any issues as needed to the appropriate party, and taking ownership and following up on a daily basis as necessary until conclusion.
- Use of superior knowledge of commercial loan documentation, title policies, appraisals, environmental assessments and entity formation documents.
- Knowledge of relevant Federal and State banking regulations
- Knowledge of processing underwriting and/or closing procedures/federal lending regulations governing real estate lending.
- Familiarity with Bank security and safety practices.
- Excellent communications, planning, customer service, organization and interpersonal skills to deal effectively with customers, bank attorneys and bank personnel.
- Thorough understanding of federal banking compliance and requirements.
- Excellent PC skills.
- Strong People First interest and ability.
- Ability to prioritize multiple competing tasks.
- Experience closing New York Construction and Commercial Loans, New Jersey Construction and Commercial Loans, participations/syndications, Commercial Mortgages, Lines of Credit and Term Loans.
- Five plus years of experience as Commercial loan closer.
- Paralegal Certificate or 2 year Associate Degree in Paralegal Studies.
- College Degree preferred, but not required.