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Commercial Loan Closer

Company: ConnectOne Bancorp
Location: Englewood Cliffs
Posted on: June 9, 2021

Job Description:

Position Summary

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

Key Responsibilities

  • 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.

Knowledge

  • 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.

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 "People First" interest and ability.
  • Ability to prioritize multiple competing tasks.

Other Requirements

  • 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.

Keywords: ConnectOne Bancorp, Tenafly , Commercial Loan Closer, Other , Englewood Cliffs, New Jersey

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