Job Summary
The Senior Closer for Commercial Loan Operations will be responsible for preparing loan documents in LaserPro or on Legally prepared transactions obtaining, and reviewing loan documents. Sr Closer will also be responsible for structuring, and making decisions on all appropriate paperwork and documentation in order to close loans originated by Home Builder Finance, Equipment Finance, Commercial Real, C&I, Regional Business Banking, Business Banking, Syndication and SBA lending groups. This position ensures loan closings are in compliance with credit policy & credit approvals. This position requires in-depth knowledge and experience associated with regulatory compliance requirements, reviewing and approving legal language, and structure of many different types of loan documentation, Title Insurance (Endorsements, B-1 Requirements, & B-2 Exceptions), UCC searches, Leases, Construction related due diligence, Entity Structure, Flood regulations and Property and Liability Insurance documents and validating they meet Flagstar's policies, legal and regulatory compliance, and to accurately prepare the closing statements. This is a production based role with a strong quality component and in-depth knowledge of loan documentation required to guarantee success. It requires excellent organizational and communication skills to ensure closing deadlines are met while providing high quality closing document packages. It requires the ability to work well under pressure within a limited timeframe to meet service level expectations.
Job Responsibilities:
* Review, approve, structure, and finalize commercial/construction real estate, equipment leasing, SBA, C&I loan documents required for all new, renewal, modification and extension loan requests. Ensure regulatory and Flagstar compliance, ensure documents are consistent with the credit approvals and credit policy, and work with the borrower, attorney, and various vendors to ensure collateral liens are perfected. This primary responsibility requires in-depth knowledge of Commercial Loan/Credit Agreements, Notes, Deeds of Trust, Mortgages, Entity Documents, Assignment, Security Agreements, Syndication Agreements, UCC Article 9 and Title Insurance language.
* Coordinate with Relationship Managers (RM), Relationship Assistants (RA), Branch Managers (BM) Sr. Loan Specialists (SLS),Credit (Portfolio Managers and analysts), attorneys, Lead Banks and various vendors to obtain any required information to complete the closing process for new, renewal, modification and extension loan requests.
* Ensure required data on the borrower and loan information is recorded/input into the system to generate quality loan packages. Partner with the Lines of Business to ensure closing documents are accurate and compliant and clients receive a positive closing experience.
* Assist in resolving loan issues by dealing with both internal and external parties.
* Staff member is expected to consistently adhere to regulatory and compliance policies and standards linked to their job as listed. Staff member will not repeatedly act in a manner signifying intentional or willful noncompliance, nor exhibit gross negligence or a general disregard for compliance and regulatory standards. Staff member must ensure compliance with applicable federal, state and local laws and regulations. Staff member must complete all required compliance training on a timely basis. Staff member will maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Staff member must take responsibility to keep up to date with changing regulations and policies.
Job Requirements:
* High School Diploma, GED, or foreign equivalent required.
* Bachelor's degree in a related field is strongly desired.
* Commercial, Construction, SBA, Equipment Leasing and C&I lending experience required.
* 7+ years of commercial closing, funding or similar homebuilder finance, commercial real estate, C&I, Leasing, SBA banking background.
* Knowledge and understanding of loan documentation and structure.
* Knowledge and understanding of legal language included in Commercial Loan/Credit Agreements, Notes, Guaranty Agreements, Deeds of Trust / Mortgages, Assignments, Subordination Agreements, Syndication Agreements, and Entity documents including entity structure.
* Knowledge of homebuilder construction, land development, lease, SBA, C&I and commercial real estate processes and structure.
* Detailed knowledge of Title Insurance, including Endorsements, Schedule B-1 Requirements, and Schedule B-2 Exceptions.
* Detailed knowledge of UCC Article 9 Knowledge of current bank regulatory compliance.
* Experience with closing loans in multiple states a plus.
* Excellent written and verbal communication skills.
* Ability to evaluate documentation and make decisions.
* Ability to multi-task while still maintaining careful attention to detail.
* Ability to operate both independently and as part of a team.
* Ability to organize and prioritize work.
* AFS Knowledge preferred.
* Strong general computer skills.
* SBA knowledge preferred.