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Commercial Loan Closer

Bergen County, NJ 07024 | Direct Hire

Post Date: 06/28/2018 Job ID: 12402 Industry: Loan Closer

COMMERCIAL LOAN CLOSER - NORTHERN NEW JERSEY COMMERCIAL BANK

The Commercial Loan Closer will support the Bank’ s commercial lending program by handling the necessary transactions needed to close and book approved loans. 

The bank is a major New Jersey bank - very fast growing, with multiple branches throughout northern New Jersey

Excellent career opportunity for loan closer with a bank, financial institution or law firm

Key Responsibilities
  • Support the Bank’ s “ client first” focus and rules of engagement— maintaining a professional demeanor, working as an active member of the Bank' s  team, providing clients excellent service .
  • 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.

Knowledge
  • Use of superior knowledge of commercial loan documentation, title policies, appraisals, environmental assessments and entity formation documents;
  • Knowledge of various federal regulations including Bank Secrecy Act, Community Reinvestment Act, Americans with Disabilities Act, Right to Financial Privacy Act, Gramm-Leach-Bliley Act, Regulation E and US PATRIOT Act.
  • Knowledge of processing underwriting and/or closing procedures/federal lending regulations governing real estate lending.
  • Familiarity with Bank security and safety practices.

Skills
  • 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.

Abilities
  • Strong “ client first” interest and ability.
  • Ability to prioritize multiple competing tasks.

Other Requirements
  • Experience closing  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 in a bank, law firm or other financial institution
  • Paralegal Certificate or 2 year Associate Degree in Paralegal Studies
  • College Degree preferred, but not required

Jim Hinckley
VP

Jim Hinckley joins Adams Consulting Group with 32 years in the search and recruitment business, most recently as President and CEO of Hinckley Associates, which he established in 1994, later acquiring Allen Staffing Services. He entered the business in 1981 with The Fisher Organization as Director of the Banking and Finance Group. Prior to entering the recruitment field, he served in senior management positions with Manufacturers Hanover Trust and Fidelity Union Bancorporation. Jim brings years of search and recruitment experience, primarily in banking and financial services with a long and successful career in middle to senior management recruiting for a wide variety of financial institutions spanning from local community banks to the top global financial firms. Additionally, his specialty includes financial, administration and marketing positions in non-financial firms. He is a graduate of Rutgers University with a major in accounting, and minors in finance and economics, and attended graduate school at Fairleigh Dickinson University with a major in marketing. Jim is also active in professional, charitable and civic organizations, and has served in government offices both elective and appointive, and serves as an officer and board member in several organizations.

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