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Loan Closing Coordinator

Valley Bank

This is a Contract position in Totowa, NJ posted January 12, 2021.

The Loan Closing Coordinator will be responsible for processing commercial loan closing packages while ensuring they meet policy and compliance guidelines. Review loan approvals and gather due diligence items necessary to document a commercial loan. Work closely with internal and external customers to document, coordinate and fund a commercial loan transaction.
Responsibilities include, but are not limited to:
  • Assist Lenders in procuring documentation and information essential to loan application processing and ongoing portfolio management.
  • Review approval for accuracy, and coordinate revisions as necessary.
  • Assist lenders with providing superior customer service to existing customers by resolving issues and providing accurate and timely information.
  • Engage Attorney or Doc Prep to prepare documents for closing.
  • Collect due diligence needed to close loans in accordance with approval.
  • Act as liaison with attorneys and lenders and coordinate closing dates.
  • Obtain all necessary Insurances and ensure sufficient coverage requirements are met prior to closing.
  • Monitor pipeline reports to ensure timely closings.
  • Carefully review loan documents for closing to ensure accuracy, close loans when necessary.
  • Review Title Commitment and Final Title Policy for accuracy.
  • Clear any documentation and insurance exceptions.
  • Communicate with Lenders any issues that arise prior to closing.
  • Order items necessary to complete the file.
  • Disburse loan proceeds at closing.
  • Prepare booking packages post-closing.