Commercial Loan Closing Specialist (Job ) ($67,332 - $74,297)
Company: Rural Community Assistance Corporation
Location: West Sacramento
Posted on: September 16, 2023
Job Description:
Position Description:To support RCAC's Loan Fund Department in
its mission to act as an intermediary to provide suitable and
innovative solutions to the financing needs of rural communities
and disadvantaged populations. Specific job goals, objectives and
tasks are established for each employee as part of the annual
evaluation process. Duties and responsibilities include but are not
limited to:
- Review and audit new commercial loan applications for
completeness
- Prepare draft loan documents from Word templates to encompass
all terms for manager and loan officer review and approval
- Work closely with loan officers, escrow officers and commercial
borrowers to track and monitor receipt of all incoming pre-closing,
closing and post-closing loan conditions
- Coordinate closely with title company, commercial borrowers and
other institutional funding sources in the delivery of commercial
loan documents for signature and delivery of initial
disbursements
- Maintain accurate checklists for loan files
- Assess compliance to RCAC policies and procedures and make
recommendations as needed
- Prepare, distribute, track, and monitor commitment letters
- Review fully executed commercial loan documents for loan fund
readiness
- Request funds from accounting and initiate ACH and/or wires as
needed
- Track lock expiration date when loan participants need to
purchase USDA guaranteed portion of loan to avoid late delivery
fees
- Update and maintain Loan Application Processing System (LAPS),
Nortridge Loan Service Software (NLS), and Loan Origination system
during all stages of the loan life cycle, including set-up,
Origination, and Loan Closing
- Complete final audit of all loan files at loan closing
- Other duties as assigned Skills and Qualifications
- Knowledge of commercial real estate finance; development and
law; lending practices and procedures; and the escrow process
- Significant experience proofreading and editing commercial loan
documents, including security agreements, UCC's, deeds of trust,
promissory notes, guarantees, and reviewing corporate entity
documents
- Knowledge of public nonprofit associations, agencies, and
programs
- Proficiency with personal computer including Microsoft Office,
Excel & database systems
- Demonstrate a high level of customer service skills and
time-management skills
- Ability to work independently and in a team environment, and to
effectively prioritize multiple tasks including follow-up
items
- Ability to follow detailed instructions
- Use initiative to approach troubleshooting and problem-solving
alternatives
- Ability to listen and communicate professionally, verbally and
in writing
- Plan, monitor and manage commercial loan closings
- Extreme attention to detailPhysical Job Requirements:The
physical demands described here are representative of those that
must be met by an employee to successfully perform the essential
functions of this position. Reasonable accommodations may be made
to enable individuals with disabilities to perform the essential
functions. Work performed in an office requires ability to operate
computers and various pieces of office equipment, including
telephone. Use may be moderate (average two hours per day) to heavy
(four or more hours per day) While performing the duties of this
position, the employee is frequently required to stand and/or sit
for prolonged periods of time; walk; talk; hear; use hand to
finger; handle; feel or operate objects, tools, or controls; and
reach with hands and arms. The employee is occasionally required to
climb or balance; stoop, kneel, crouch or crawl. The employee may
occasionally lift and or move up to 25 pounds. Specific vision
abilities required by this job include close vision, distance
vision, color vision, peripheral vision, depth perception and the
ability to adjust focus. This position may also require moderate
(up to six days per year) automobile, including overnight travel.
Preferred Education and Experience:A combination of experience and
education is necessary to qualify for the position. A typical
qualifying combination may include: Experience: Three years of
applicable experience in the loan origination, servicing, or loan
accounting field (education may be substituted for the experience).
Preferred Education: Associate degree in accounting (additional
qualifying experience may be substituted education).Special
Requirements:Possession of a valid driver's license and proof of
insurance that meets the minimum requirements ($100,000/$300,000)
of RCAC corporate liability policy may be required when traveling
for business purposes. RCAC is an equal opportunity employer and
considers all employees and job applicants without regard to race,
religion, color, gender, sex, age, national origin, disabili ty,
veteran status, sexual orientation, gender identity or marital
status, or any other status protected by law. RCAC strives to
reflect the diverse constituencies that the organization
serves.
PI
Keywords: Rural Community Assistance Corporation, West Sacramento , Commercial Loan Closing Specialist (Job ) ($67,332 - $74,297), Other , West Sacramento, California
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