Impact Development Fund (CDFI) · 3 days ago
Commercial Loan Closer
Loveland, CO
Full-time
Onsite
Mid Level
$57K/yr - $80K/yr
3+ years expImpact Development Fund (IDF) is a community-based nonprofit organization focused on creating economic opportunities in under-served communities. The Commercial Loan Closer is responsible for coordinating and executing commercial loan closings, ensuring compliance with policies and regulations while working closely with various stakeholders to facilitate the process.
AdviceFinancial ServicesLendingNon Profit
Responsibilities
Coordinate the commercial loan closing process from credit committee approval through funding, actively managing timelines and communication among internal and external stakeholders to ensure closings occur on schedule
Review committee-approved credit memoranda and translate closing conditions into actionable documentation and funding requirements
Prepare, draft, and assemble loan closing documents, including commitment letters, loan agreements, promissory notes, guarantees, security instruments, and disbursement authorizations, ensuring compliance with credit approvals and internal lending policies
Serve as a key point of contact for borrowers and third-party partners (including legal counsel, title companies, escrow agents, and insurance providers) throughout the closing process, providing guidance on documentation requirements and timelines to ensure accurate and timely completion of closing requirements
Ensure proper execution, recording, and perfection of collateral in accordance with internal policies and regulatory requirements
Prepare closing statements and funding packages and submit for review and approval prior to disbursement
Maintain organized and complete closing files, including electronic document management systems
Coordinate post-closing documentation review and file completeness in collaboration with lending, portfolio management, servicing, and finance staff to ensure accurate loan boarding and a smooth transition from closing to servicing
Qualification
Required
3 - 5 years of mortgage or commercial lending operations experience as a loan processor, underwriter or closer
Strong understanding of loan documentation, collateral, and closing processes for commercial or real estate loans
Experience working with legal counsel, title companies, escrow, and insurance providers
High attention to detail and ability to manage multiple transactions simultaneously
Strong written and verbal communication skills
Proficiency with Microsoft Office and loan documentation systems
Ability to analyze detailed documents and follow complex approval conditions
Professional, collaborative, and service-oriented approach
Benefits
Paid Holidays and Vacation
Paid Sick Time and Disability
Medical
Dental
Vision
Retirement
FAMLI
Life Insurance
Company
Impact Development Fund (CDFI)
Impact Development Fund (IDF) is a lender, partner and community builder that expands access to capital to build more resilient and equitable communities.
11-50 employees
Funding
Current Stage
Early StageTotal Funding
$8.22MKey Investors
Community Development Financial Institutions Fund
2024-10-23Grant· $4.5M
2023-04-10Grant· $3.72M
Leadership Team
Megan Ferguson
Chief Executive Officer
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