11 days old

Commercial Loan Closer

First Federal Lakewood
Lakewood, OH 44107
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  • Job Code
    202077100

When you work at First Federal Lakewood, you'll work with a mutual bank that shares a commitment to customers, community and each other.

Our differences bring inclusion to life at First Federal Lakewood and our commitment to diversity is our commitment to you, our customers and our communities. We seek and respect diverse creativity to build new ideas and add to our rich heritage. Our employees are valued, respected and their voices are heard.


The Commercial Loan Closer is responsible for the closing and system setup of new commercial loans, and modification of existing commercial loans.



Duties and Responsibilities:

  1. Prepares loan documents and modifications; analyzes and determines the appropriate type of loan documents necessary and ensures that all approval terms, conditions, and covenants are present in the documentation; drafts loan documents and modifications, utilizing software when appropriate; coordinates the closing process with the bank counsel and borrower attorney if outside counsel is used for documentation; works with outside counsel to ensure loan conditions and covenants are included in attorney prepared documents.
  2. Provides assistance with the servicing of existing commercial loans including verifying billings, applying payments, revising maturities rates, indexes and similar items; modifies loan terms on the commercial system as needed; assists with preparation of quarterly, monthly, and weekly reporting prepared by the commercial loan administration department; assists with escrow analysis and year end statement preparation to prepare mailings to customers.
  3. Assists with the set up for new commercial loans on the commercial system; compiles transaction specific checklists of critical items; manages the receipt of all the critical items in anticipation of loan closing, including for example ordering appropriate title policies, endorsements, surveys, insurance; communicates regularly with the loan officer and department manager while coordinating loan closings with any outside vendors [title companies] to determine that necessary documents are recorded and signed by the borrowers; calculates and disburses initial loan funding; follows-up on post-closing to ensure all trailing documentation such as title policies and filed mortgages are received.
  4. Prepares and completes partial releases and apply funds received to the appropriate loan; prepares and processes commercial loan payoffs when necessary.
  5. Monitors and updates pipeline reports; performs general ledger entries for various accounts for commercial loans; provides reporting for various committees.
  6. Responds to customer calls from home owners and builders.
  7. Manages service providers and vendors effectively; structures relationships with service providers in a strategic manner; sets expectations; develops performance metrics; measures vendor performance, provides feedback and holds accountable.
  8. Other duties as required.

Necessary competencies:

  1. Adaptability
  2. Cooperation
  3. Communication skills
  4. Customer service
  5. Quality of work
  6. Workflow skills
  7. Attendance and dependability

Technical Expertise

  1. Experience in commercial lending is required.
  2. Experience in commercial lending laws, regulations, and guidelines is preferred.
  3. Experience in financial services or banking is preferred.
  4. Proficiency in MS Office [Outlook, Excel, Word] or similar software is required. EasyLender, Cleartouch, OnBase, various government and investor software/web portals is preferred.

Education and Experience

  1. Education: High School Degree or Equivalent is required; Bachelor's degree is preferred, or equivalent experience.
  2. Certification: Notary is preferred.
  3. Years of experience: 7 to 10 years is required.
  4. Years of experience supervising: None.

Physical Environment

  • While performing the duties of this job, the employee is regularly required to lift, walk, stand, sit, bend, reach with hands and arms, climb, push/pull, use hands, and see, hear and speak.
  • The employee must occasionally lift and/or move up to 25 pounds.
  • The noise level in the work environment is usually quiet to moderate.
  • This position is performed in a hybrid office setting, five days a week with typical work hours being 8.30a through 5.15p.






PI202077100

Posted: 2023-01-23 Expires: 2023-02-24

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Commercial Loan Closer

First Federal Lakewood
Lakewood, OH 44107

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