• Commercial Loan Closer & Servicer

    Job Location
    United States-IL-Rolling Meadows
    Work Status
    Full-Time
    Department
    Commercial Lending
    FLSA Status
    Exempt
    Requisition ID
    2018-1858
  • Start a Rewarding Career with Alliant

    Why Alliant?

    We’re not a typical financial institution – we’re better. We’re an innovative, fun-loving, highly-engaged group of professionals that are committed to our company and the communities we do business in. We love to recognize and celebrate each other.

     

    Over 90% of our employees say we are a great workplace that is focused on our mission, vision and the future of banking.

     

    What will your day look like?

    The Commercial Loan Closer and Servicer is responsible for a broad range of activities, including the Closing and oversight of potential complex commercial real estate loans across a broad spectrum of asset types and the ongoing Servicing of the commercial loans in the portfolio in an accurate and risk driven manner. Responsibilities include, but are not limited to, working with the Loan Originators and Loan Underwriting staff and the Credit Union’s outside legal counsel in the collection of the required due diligence documentation required for closing and reviewing same for accuracy, including the review of Loan Agreements, Mortgages, Guarantees, Security Agreement, Title and Participation Agreements. 

     

    This position is also responsible for the onboarding of newly closed and/or modified loans in accordance with the loan approval. This individual will partner closely with accounting and finance departments, monitor and update real estate tax, UCC (Uniform Commercial Code) and insurance tracking reports, perform tax escrow analysis, and validate draw requests.   Additionally, the Commercial Loan Closer and Servicer will reconcile payments, assist with electronic file retention, respond to member inquiries on existing loans, and undertake special projects as needed.

    Responsibilities

    Do you see yourself doing this?

     

    Closing:

     

    • Periodically closing a loan from start to finish under the oversight of the Manager, Loan Closing and Servicing.
    • Gathering complete and accurate loan documentation that conforms to approved loan terms, including the opening of ACU business accounts prior to closing.
    • Reviewing loan documents prepared by outside counsel, including, loan agreements, mortgages, security agreements and all other ancillary closing documents required for closing to ensure all terms of the loan approval and covenants are met
    • Handle the closings of investor/participation loans as required under the oversight of the Manager.
    • Performing additional closing due diligence and special projects as required, including identifying closing issues that requires escalation to Manager for appropriate attention and immediate resolution.  

     Servicing:

     

    • Onboarding of new and modified loans accurately and in accordance with the loan documents.
    • Collaborating with Alliant’s Accounting and Finance departments providing needed data and reporting as requested.
    • Processing customer monthly statements via ACH and/or manual as required, including
    • the handling of any borrower inquiries in a timely and accurate manner.
    • Coordinating the processing of participated loans, including payments and reconciliations with investors.
    • Performing additional servicing and related special projects as required, including monthly departmental reporting as required.

     Risk Responsibilities:

     

    • Ensuring strong internal controls and quality assurance policies and procedures are adhered to at all times.
    • Assisting in formulating and maintaining effective loan closing and servicing operating procedures.
    • Making process improvement recommendations to the Manager, Commercial Closing and Servicing regarding best practices, including ways to create and maintain efficiencies.
    • Participating in special projects that affect credit union-wide commercial lending and sales efforts within the Commercial Lending Department

    Qualifications

    What makes you a great fit?

    You’ll be a great fit if in addition to a Bachelor degree and three years of experience in commercial real estate loan closings and administration; you also are / have:

    • Proficient with Commercial Servicing software such as Commercial Servicer system(s), Symitar, and Microsoft Office Suite including: Word, Excel, PowerPoint and Outlook
    • A strong team player with demonstrated initiative and ability to work independently
    • Excellent customer service skills and focus
    • Excellent organizational skills with ability to multitask in a fast paced environment
    • Strong written and oral communication skills

    When you’re happy, we’re happy!

    As a thank you for joining our team, you’ll benefit from:

    •  Competitive medical, dental, and free vision benefits
    • Competitive compensation plan
    • Contributions towards gym memberships
    • Generous PTO and banking holidays off

    Still not convinced? 

    We’re on the list of 100 Best Medium Companies to work for, check it out here. For more details you can also visit our Glassdoor and LinkedIn profiles.

     

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