Loan Closing Specialist

TITLE: Loan Closing Specialist DEPARTMENT: Credit and Lending Administration REPORTS TO: Closing Manager FLSA Status: Non-Exempt DATE: November 2023 ABOUT REINVESTMENT FUND Headquartered in Philadelphia, Reinvestment Fund operates nationally with regional offices in Baltimore, MD, and Atlanta, GA. Reinvestment Fund is a national mission-driven financial institution that creates opportunity for underserved people and places through partnerships. We marshal the capital, analytics, and expertise necessary to build strong, healthy, and more equitable communities.

As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants, and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs.

They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services. At Reinvestment Fund, you'll be part of a talented and passionate team of communicators and business development staff, lenders, portfolio managers, analysts, grant program managers, accountants, and policy researchers who bring their unique talents to our mission.Reinvestment Fund is currently undergoing a multi-year race, equity, and inclusion organizational change process, and we are seeking candidates who share a commitment to advancing racial equity and anti-racism and are prepared to engage in that work. WORK LOCATION:THIS POSITION IS LOCATED IN PHILADELPHIA, HEADQUARTERS: (HYBRID) Reinvestment Fund provides a flexible work arrangement that will be a hybrid home/office work arrangement offering 2 days onsite and 3 days remote.

It is anticipated that a combination of working remote and two days in a Reinvestment Fund office location will allow for face-to-face interactions. Depending on the nature of the job, a more flexible work schedule may be considered. ABOUT THE POSITION: (There are no Supervisory Duties in this Position) Reinvestment Fund seeks a Loan Closing Specialist to support the Closing Manager and the Credit and Lending Administration Department while working closely with the Lending & Investment Department in managing the day-to-day operations for Loan Closings; including oversight of the loan documentation, and overall Loan Closing functions, procedures and internal controls related to a diverse and complex set of commercial transactions in accordance with the company's loan policy.

The Loan Closing Specialist will coordinate the Loan Closing, including preparation of the Loan Closing checklist, tracking of legal costs, attorney vendor management, review of title commitment, collection, and review of due diligence items. The Loan Closing Specialist will also be entering loan information in databases, reviewing, and preparing closing disbursements. Additional Responsibilities: Ensure that loan documents comply with credit approval, credit policy, internal guidelines and State and Federal regulations.

They will oversee the post-closing review processes, which ensure that all loan-supported collateral documentation is received, filed, and uploaded to Reinvestment Fund's document management system in a timely manner. Obtain and review all due diligence required in connection with each anticipated transaction, which may include but not be limited to appraisals, environmental reports, title, survey, and customer due diligence. Work together with customers and other members of the loan team to identify and resolve risks presented by review of such information.

Identify and resolve barriers to closing, which may include but not be limited to necessary insurance coverage, title endorsements, outstanding liens or clouds on title requiring resolution, outstanding taxes, and judgments against parties or property. Knowledge of construction financing, commercial real estate loan documentation and title insurance is required. The successful candidate will be extremely detailed oriented, possess strong organizational skills and have a demonstrated ability to work on multiple transactions simultaneously.

This position requires strong interpersonal skills, can foster productive working relationships, and manage high pressure situations. The Closing Specialist should also have knowledge of entity documents to determine authorization and signers and should be able to multi-task and work on several transactions at a time with minimal errors and exceptions under limited time constraints. This position involves a concise written and verbal communication with internal colleagues across the organization and external clients including borrowers, co-lenders, attorneys, and other third-party service providers.