Commercial Loan Documentation Specialist [Full-Time]

Summary: Works with Commercial Bankers to prepare loan documents for any new, modification or renewal of our Commercial Loans with minimal supervision in order to close the transaction and complete the file. Responsible for having all closing due diligence items and identifies closing issues and ensuring all loan covenants as appropriate and approved are documented to protect the Bank from legal risks. Essential Duties and Responsibilities

• Utilizes Bank’s procedures and systems to prepare and review loan documents for all types of Commercial Loans to ensure Bank’s collateral and lien position and all funding requirements have been met and are consistent with loan approvals.
• Coordinates with Banker and Borrower or their representative to obtain bank required due diligence items, including but not limited to, organizational documents, trust agreements, surveys and title documents that are not received by the Banker.
• Reviews organizational documents, trust agreements, title commitments, surveys, insurance, loan presentations and commitments letters to ensure proper preparation of loan documents and adherence to loan approval conditions. Determine closing and documentation issues that develop throughout the closing process and independently develop practical resolutions for them.
• Coordinates/schedules closings to ensure loans close properly and are processed timely, includes ordering title when a real estate transaction and not a purchase and assuring documents are acceptable to the bank (i.e., Insurance etc.)
• Prepare documentation and closing packages for all types of Commercial Loans and coordinate with customer, Banker and title company to ensure necessary funds are received and the loan closes properly and timely. Also be a peer reviewer of documentation prepared by another closer or outside counsel.
• Prepares the Loan Reconciliation for loan boarding to ensure all fees are accounted for and vendors to be paid. Special attention to legal fees that may not be fully known at closing. Timely follow up required to collect and pay any outside legal expense in coordination with the Banker and Accounts Payable.
• Accurately handles disbursement method for any closing.
• Reviews executed documents after closing to ensure accuracy. Resolves any issues found in a timely manner.
• Confirms perfection of Bank’s lien on collateral prior to closing and funding.
• Coordinates with the Credit Analyst, Commercial Banker, and Loan Servicing throughout closing process to insure all loan approval conditions precedent to closing have been cleared.
• Completes post-closing file and delivers completed file to Loan Servicing Department for Boarding, scanning and filing. Responsible for live Note and preparing the Security file for filing to the vault. Any documents for the Security file that are not able to be filed to the vault are to be filed in fireproof cabinet until able to file in the vault. Expected to adhere to procedures for file completion.
• Interacts with other departments and associates to develop a team approach to projects, resolve issues, or investigate new developments that arise on a day-to-day basis.
• Reviews and analyzes UCC, tax, judgment, bankruptcy and real estate searches, payoff letters, and surveys as requested or required to identify potential legal issues and recommend company position.
• Represents the Bank in a professional manner at all times when dealing with customers’ inquiries and/or their legal representatives and relevant third parties such as title companies.
• Develops a strong knowledge of core legal documentation for each product offered by the Bank and how each type of Borrower affects the relative documents.
• Completes special projects and additional responsibilities as required and assigned by Management.

BankFinancial is an Equal Opportunity Employer (minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity)
Experience and Skills:

Education/Experience

• Bachelor’s Degree, in Finance or Accounting preferred.
• 1-2 years of commercial real estate closing experience or equivalent combination of education and experience.
• Strong interpersonal and communication skills and ability to work cooperatively with other team members.

Computer Skills

• Microsoft Office, including Word, Excel, and Outlook
• Database software
• Laser Pro