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BankUnited · 1 month ago

SBA Commercial Loan Closing Officer II -OPX (Remote)

United States

Full-time

Remote

Mid Level

4+ years exp

BankUnited is a financial institution looking for a Commercial Loan Closing Officer. The role focuses on handling various loan activities, ensuring accurate documentation and timely execution of loan closing conditions, and interacting with multiple stakeholders throughout the loan process.

BankingFinanceFinancial Services

Diversity & Inclusion

Responsibilities

Receives and Reviews -- Receives approved CAM packages from Underwriter or Portfolio Manager. Reviews the Approved CAM package for loan closing conditions, appropriate lending authority, and lien perfection requirements

Ensures Complex Transactions are Setup in Loan System Correctly -- Work with Loan Servicing department to ensure deals are setup to bill correctly to our borrower and participants

Coordinates Fees - Working with the deal team, which can include internal partners, agent bank and/or participating banks, to coordinate distribution, receipt of and application of direct, syndication, sold participation and Shared National Credit closing related fees including but not limited to commitment fee, arranger fee, skimming fee and administration fee

Conditions to Close -- Confirm and satisfy "Conditions to Close" by completing the Closing Memorandum Worksheet

Orders Due Diligence -- Orders required due diligence items including flood determinations

Confirms Receipt of Satisfactory Due Diligence -- Confirms due diligence items have been reviewed and are satisfactory. Due diligence items include but are not limited to flood regulation items, hazard, liability insurance and any other required insurance certificates, OFAC clearance, beneficial ownership forms, appraisal and appraisal review, environmental report and review

Acts as Liaison with Partners -- Interacts with all business partners including relationship manager, Credit Products Officer (UW/PM), credit officers, attorneys, 3rd party vendors, etc. to ensure loan closing requirements are understood and satisfied

Satisfies Pre-Closing Conditions -- Expedites the prompt and accurate satisfaction of all pre-closing conditions. Including calculation of collateral loan-to-value and determining adequacy of insurance coverage

Resolves Non-Credit Deficiencies - Independently takes remedial actions to resolve non-credit related deficiencies escalating questions/disputes to the appropriate party when necessary

Resolves Credit Related Deficiencies -- Works closely with underwriter/portfolio manager and credit officer to resolve credit related deficiencies and obtain approval if needed

Engages with Attorney -- When the approved CAM package is received, LCO is introduced to counsel (selected from the Bank's Approved Attorney List or In House Counsel) to prepare loan documents. RM to notify LCO which firm is to be engaged or has been engaged. For Loan Closing Officer prepared loan documents which are either closed in house by the LCO or where the LaserPro Loan documents are used by Counsel for an attorney led closing, the LCO must be proficient in LaserPro. Ongoing LaserPro Training will be provided

VReviews Loan Documents -- Performs thorough and timely review of loan documents ensuring that the documents adequately reflect the loan as approved and protects the Bank's interests. Understands the materiality of nuances in legal language to assess whether the loan documents capture the intentions of the approved deal/covenants/conditions. Ultimate quality of the integrated approved terms are the responsibility of the Loan Closing Officer

Participates in Document Uploads -- for syndicated deals, uploads documentation and due diligence required by participant banks to shared document repository site

Ensures Rate Options are Properly Documented -- Uses knowledge of interest rate indices and loan types in order to ensure documents capture borrowing options in a way the loan system can accommodate

For Attorney Prepared/Closed Loans, the LCO facilitates a final Loan Document review with Bank's Counsel and RM and determines when the loan documents are finalized and ready for execution. If the Loan Documents are prepared in house and counsel is not retained by the Bank, the LCO reviews the documents with the RM and provides the finalized documents to the RM for execution

Assist Loan Administrator in Resolving Tracking Items -- Using internal reporting, resolves ongoing items coming due such as insurance expirations, rate type change, loan and payment structure changes

Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.)

Adheres to Bank policies and procedures and completes required training

Identifies and reports suspicious activity

Qualification

SBA loan operationsLoan documentationE-Tran systemCollateral evaluationTime managementPersonal computer skillsInterpersonal skillsNegotiation skillsVerbal communicationWritten communicationProblem solving

Required

Bachelor's Degree or equivalent related experience required

4-6 Years experience in an SBA loan operations or loan closing environment required

Strong understanding of SBA and other Commercial Loan products

Strong understanding of SBA's Standard Operating Procedures, including the eligibility, closing, and documentation requirements to protect the SBA guarantee, perfect the collateral, and protect the bank against any loss

Strong knowledge of SBA's E-Tran system

Familiarity with most common vendor documents -- title work, appraisals, flood determinations, lien searches, etc. and the procedures and regulations related to ordering, receipt and review

Strong understanding of loan documentation, collateral evaluation (including LTV calculation), lien perfection and applicable and local, state and federal requirements

Demonstrated time management and organizational skills with the ability to meet deadlines under pressure

Solid interpersonal skills with the ability to establish and maintain working relationships both inside and outside the Bank

Strong negotiation skills

Strong verbal and written communication skills

Self-starter and able to work without direction

Independence in problem solving and decision-making

Strong personal computer skills with knowledge of Excel, MS Word, and Outlook