Lead Commercial RE Loan Closer (Hybrid near O'Hare Airport)

In this role, you will be responsible for the closing and accurate funding of commercial loans and ensuring proper and complete loan documentation that reflects the terms and conditions approved by the sanctioned Alliant Credit Union credit authority and conducting extensive due diligence on ownership entities and existing or prior liens. Collaborate with both outside legal counsel and internal business partners in the negotiation and refinement of complex legal agreements. Establish membership for perspective borrowers, the commercial loan closer oversees lien recordings, collects and resolves issues relating to title, tax, and insurance matters, and establishes appropriate escrow accounts. Board new loans, archive information for future digital reference and retrieval and generate both internal and external reports.

Responsibilities

• Collect due diligence necessary to close commercial loans and loan documentation that conforms to approved terms
• Oversee initial and subsequent loan disbursements including funds held in escrow and onboard new loans to properly reflect approved terms and conditions
• Participate in closing calls and provide guidance on but not limited to forms, applications, and closing requirements on insurance, title and zoning
• Ensure digital and physical loan files are organized and complete in all manner.
• Provide reports to other departments
• Evaluate ownership and affirm that it corresponds with vetting requirements necessitated by NCUA and IDFPR regulations
• Advise underwriting of any ownership discrepancies and recommend compliance actions.
• Reconcile and settle vendor charges including legal, engineering, title, appraisal, environmental, and others
• Ensure internal controls, loan closing procedures and quality assurance policies and procedures are adhered and maintained and make recommendations regarding best practices and ways to create efficiencies
• Stay abreast of regulatory and marketplace news and advise teammates of changes that may impact closing procedures and serve as a resource to other team members

Education:

• Bachelors Degree - Business, Finance or related - Preferred
• High School or Equivalent - Minimum

 

Years of Experience:

• 4 years - Commercial real estate closing, underwriting or related - Minimum

 

License/Certifications/Training:

• Preferred: Notary or Paralegal Certification

 

Compensation & Benefits:

Typical hiring range:‏‏‎ ‎$76,500 ‎-‏‏‎ ‎$108,050 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge. 

Additional Compensation: Annual performance bonus 

‎Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match.

Additional Benefits:

• Work from home up to 3 days a week
• Paid parental leave
• Employee discount programs
• Time off including paid personal and sick days
• 11 paid holidays 
• Education reimbursement

*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.

 

Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.

 

The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.