Loan Closing Specialist (Job #353) ($76,103 - $83,976)

Remote - Northern California

General Purpose:

Under general supervision of the Commercial Loan Closing Manager, this role prepares loan/grant documents and files, submits them to the Lead Commercial Loan Closer or Commercial Loan Closing Manager for approval, and completes loan/grant closings. Ensures loan packages are complete, containing all necessary documents and signatures.

Specific job goals, objectives and tasks are established for each employee as part of the annual evaluation and work plan process. The statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all qualifications, responsibilities, duties, and skills required.

Job Duties and Responsibilities:

• Reviews and audits new loan applications for completeness.
• Prepares loan/grant documents from templates to encompass all terms for review and approval.
• Maintains accurate checklists for loan/grant files.
• Ensures compliance with RCAC policies and procedures, making recommendations as needed.
• Prepares, distributes, tracks, and monitors commitment letters.
• Collaborates with Loan Officers, escrow officers, and borrowers to track and monitor pre-closing, closing, and post-closing conditions.
• Coordinates closely with title companies, borrowers, and institutional funding sources to facilitate the execution of loan/grant documents, closings, and delivery of initial disbursements.
• Reviews fully executed loan documents to ensure readiness for funding.
• Requests funds from Finance and initiates ACH and/or wires as needed.
  
• Tracks lock expiration date when loan participants need to purchase USDA guaranteed portion of loan to avoid late delivery fees.
• Updates and maintains all systems and reports during all stages of the loan life cycle, including set-up, origination, and closing.
• Completes final audit of all loan files at loan closing.
  
• Maintains records and documents so that they are accessible and available in accordance with storage and disposition files management plan.
  
• Maintains professional and technical knowledge by attending educational workshops, reviewing professional publications, establishing personal networks, and participating in professional societies.
  
• Performs other related duties as assigned.

Supervision Exercised:

• No supervisory responsibilities.

Minimum Qualifications and Necessary Requirements:

• EQUIVALENT: Combination of education and experience can meet minimum qualifications.
• EDUCATION: High School Diploma or GED.
• EXPERIENCE: Three years of loan servicing, loan accounting, or loan processing experience. Significant experience proofreading and editing documents. Proficient computer skills with Microsoft Office programs.
• LICENSE/CERTIFICATION: Valid driver's license and proof of insurance that meets the minimum requirements ($100,000/$300,000) of RCAC corporate liability policy.
  
• Must pass a criminal background investigation prior to employment.

Knowledge, Skills, and Abilities:

• Knowledge of real estate finance, development, law, lending practices and procedures, and the escrow process.
• Knowledge of nonprofit associations, agencies, and programs.
• Knowledge of servicing for various community development lending programs.
• Skill in operating business computers and office machines, including in a Windows environment, specifically Word, Excel, and presentation software (such as PowerPoint).
• Organizing and coordinating skills.
• Customer service skills.
• Ability to prepare and present loan documentation.
• Ability to plan, monitor, and manage loan performance.
  
• Ability to work in a fast-paced environment.
  
• Ability to create, compose, and edit written materials.
• Ability to gather data, compile information, and prepare reports.
• Ability to carry out instructions furnished in verbal or written format.
• Ability to establish and maintain professional relationships with individuals of varying social and cultural backgrounds and with co-workers at all levels.
• Ability to maintain confidentiality.
• Ability to meet strict timelines.

Preferred Requirements:

• Associate's degree in accounting, finance, or related field.

Physical Demands:

While performing the duties of this job, the employee is regularly required to sit and stand; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee frequently is required to walk. The employee occasionally is required to stand; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision requirements include close vision, distance vision, color vision, and depth perception.

Working Conditions:

Work is typically performed in an office with a moderate noise level.