Consumer Loan Closing Specialist II

Position Title: Consumer Loan Closing Specialist II
Reports To: Consumer Loan Closing Specialist Team Leader
Direct Reports: N/A
Salary Grade: 11
GENERAL FUNCTION: The Loan Closing Specialists is responsible for pro-actively coordinating all aspects of the loan closing process, acting as liaison between the Underwriter (U/W), Consumer Lenders, 3rd Party Vendors, Loan Documentation Preparation and the Loan Processing Center for all new and renewed Consumer Loans. The Loan Closing Specialists completes all due diligence associated with the satisfaction of approval conditions prior to the preparation of loan closing documents. These responsibilities include requesting, reviewing and critical interpretation of all 3rd party provided documents needed to provide the "clear to close" and in coordinating efforts to prepare loan closing documents for real estate and non real estate secured loans. 3rd party documents consists of but are not limited to the following: real estate appraisals, valuation services, environmental reports, flood determinations, UCC searches, title searches or commitments, insurance documents, surveys and any other documents as required by the Underwriter.
The Loan Closing Specialists is expected to effectively communicate with all parties to minimize the average accumulated time between the issuance of a final underwriting decision and the request for loan documentation, while meeting underwriting, bank policy, compliance and regulatory requirements. Working independently and under minimal supervision, the position performs a wide variety of functions relating to insuring all conditions and due diligence items are cleared for the preparation and processing of loan documents for all approved loan requests.
College Graduate Preferred. High School graduate or similar certificate and equivalent experience in a related field acceptable.
2 - 4 years' work experience in a financial institution with a focus on due diligence and/or loan documentation
2+ years' consumer loan documentation experience
Strong time management and organizational skills evidenced in previous assignments
Demonstrates an understanding of applicable bank policies and procedures as they pertain to the satisfaction of loan closing conditions as well as vendor documents and services
Strong knowledge of most common vendor documents - title work, AVM's, appraisals, flood determinations, lien searches
Strong knowledge of loan documents and requirements
Strong knowledge of consumer lending and loans
Thorough knowledge of CRIF ACTion, 360 View, LaserPro, Navigator and UCBI internal banking systems.
Excellent personal computer skills with demonstrated knowledge of Microsoft EXCEL, WORD, email, etc.
Ability to multi-task
Detail oriented
Self-starter and works without direction
Strong verbal and written communication skills
Strong negotiation skills
Interpersonal skills and team orientation
Ability to meet deadlines under pressure
Utilized independence in problem solving and decision making (Level II and above)
Experience in an automated loan origination environment highly desirable
Completion of all required Bank Secrecy Act/anti-money laundering training suitable to his or her position
Completion of Loan Closing Specialists certification program (future - Level II)
Participate in all required compliance training, including Bank Secrecy Act/anti-money laundering training, as well as internal and external training programs, online training, meetings, and seminars/conferences, etc.
Monitors new loans for incoming work as well as tracking work in process
Utilizes conditions set and Checklist to determine due diligence requirements or specific needs for each loan type.
Coordinates efforts to obtain required due diligence items such as:
Title commitment / Title search
UCC search
Evaluation or real estate appraisal
Environmental questionnaire or evaluation (phase I/II)
Flood determination
Proof of insurance documents
Entity documents
Receives and reviews due diligence items to ensure loan documents can be completed accurately and the Bank's lien can be perfected
Reviews loan request to insure proper utilization of Purpose, Class, Collateral and Industry codes for accuracy of loan documentation preparation and loan booking/boarding
Interacts with UW as required to insure accurate interpretation of loan closing conditions
Calculates Loan to Value
Determines adequacy of insurance coverage
Reviews application and initial loan documentation for adherence to all compliance and regulatory requirements
Constantly monitors work queues for deals in process to promptly follow up on vendor documents ordered but not received
Calls for payoffs on accounts
Ensures all due diligence information is properly documented and appended for image
Establishes and maintains an effective dialogue with Lenders and utilizes system capabilities to insure deal status information is readily available
Adheres to an established follow up methodology to support achievement of the department's Service Level Agreement (SLA) goals and individual turn time goals
Promptly and accurately determines when all underwriting approval conditions for loan closing have been satisfied. Takes appropriate remedial actions to resolve deficiencies and escalates questions/disputes to appropriate level when necessary.
Upon establishing the "Clear to Close", moves the deal from the Specialists to Doc Prep for creation of loan documents
Coordinates efforts to establish closing date and time with all parties concerned including Loan Documentation Preparation, attorneys, title companies, customer and Lender
Coordinates efforts to engage and finalize preparation of loan documents by external counsel
Facilitates efforts to insure timely creation of internally or externally prepared loan documents
As required, reviews loan documents to insure alignment with credit approval
Performs other duties as assigned or requested
Thorough understanding of all Consumer Loan products.
Thorough knowledge of Consumer Lending Credit Policy/Guidelines.
Thorough knowledge of loan documentation, collateral evaluation, lien perfection, local, state and federal regulatory requirements.
Knowledge and utilization of fair lending practices, rules and regulations such as CIP, Reg H, HMDA, CRA, Reg O requirements.
Ability to confirm that vendor/3rd party items and supporting documentation used for clearing conditions and due diligence items conform to the bank's credit policy/guidelines.
Ability to calculate Loan to Value and required insurance amounts.
Knowledge of procedures and regulations related to the ordering, review and receipt of required documents.
Knowledge of application of bank and statutory guidelines
Understanding of large & complex credit requests may include multiple funding sources, multiple contracts, complicated equity requirements, curtailments, various rate options, tiered pricing, and purchase contract or takeout agreement.
Promotes a team environment with Lender, UW, Document Preparation and the LPC.
Efforts are focused on maximizing the customer experience.
Functions as a collaborator.
Provides guidance and support in order to meet the needs of external customers.
Able to represent the Loan Closing process.
Insures Lender, attorneys, title companies, 3rd parties are updated daily on the status of loans in process.
Interacts and communicates daily with all levels, including, financial center employees, lenders, underwriters, documentation preparation, Appraisal, title companies, 3rd parties, attorneys, title companies and flood vendors to ensure requirements are understood and met.
Provides timely, complete and accurate responses to inquiries.
Handles all situations in a professional, ethical manner.
Escalates special situations or problems as necessary.
Supports and contributes to the quality and sales goals of the bank.
Ensures all goals and departmental service standards (SLAs) are met.
Tracks, logs and provides daily, weekly, monthly, quarterly reporting of production statistics as defined by management.
Manages production in times of fluctuating volumes and consistently meets production and turnaround time standards.
Consistently meets quality and data integrity standards.
Effectively utilizes available systems, workflow and imaging tools.
Other duties as assigned
Position Title: Loan Servicing Specialist II
Reports To: Loan Operations Manager
Direct Reports: N/A
Salary Grade: 7
College degree preferred
Minimum 3 years' experience in a Loan Operations/Loan Processing environment or related role
Detailed knowledge of Retail and Commercial loan documentation requirements
Knowledge of federal and state regulatory requirements
Advanced level of communication and organizational skills
Familiar with LAS and Loan Document platforms with a proficient knowledge of Microsoft Excel & Word
Participate in all required compliance training, including Bank Secrecy Act/anti-money laundering training, as well as internal and external training programs, online training, meetings and seminars/conferences, etc.
Performs complex and/or non-routine administrative tasks exercising significant judgment and discretion in the performance of duties usually in support of a single team within Loan Operations
Gather, interpret, and transcribe complex and non-standard information and/or related files to ensure loan boarding packages are input into core system according to bank, regulatory and investor guidelines. Documents reviewed may include loan approval forms, appraisals, title work, insurance, and all other requirements necessary to properly perfect our collateral position.
Process complex and non-standard boarding requests, perform Quality Assurance review, and complete complex loan research and maintenance requests in compliance to Bank, regulatory and investor guidelines
Assist Account Officers with questions regarding loan booking and loan maintenance questions
Provide exceptional customer service by responding to requests and issues in an accurate and timely manner
Meet performance standards of established production and quality metrics
Adhere to Corporate policies and procedures as proscribed
Other duties as assigned

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