Sr. SBA Loan Closing Specialist
Company: Northwest Bank
Location: Manchester
Posted on: November 14, 2024
Job Description:
DescriptionJob Summary
The Senior Small Business Administration Loan Closing Specialist is
responsible for all due diligence in relation to the accuracy and
completeness of a new SBA loan, or a modification to an existing
SBA loan, from post customer acceptance to booking/funding. This
individual will work closely with SBA Sales and SBA credit to
ensure all required due diligence and SBA guidelines are achieved.
Additionally, the Senior SBA Closing Specialist will report on
progress of loan closings to leadership at regular intervals, will
be expected to remain knowledgeable of SBA changes and processes
and will work to develop, with leadership, SBA process and
procedure materials and provide education to field as
requested.
Essential Functions
- Identify business entity types and collect the corresponding
legal documentation that they are required to file with the state
or county
- Utilize the loan workflow and specific tasks within the Loan
Origination System, help to identify best practices
- Order, review and analyze all required third-party vendor
documents in relation to the collateral to be held on the
loan
- Complete all due diligence associated with the satisfaction of
loan approval conditions as well as customer identification
requirements in a timely manner
- Verify the loans have been approved by the appropriate level of
authority
- Be the point of contact between the lender, underwriter,
customer, attorney and/or title company, and SBA as needed
- Ensure all required due diligence and approval documentation
has been indexed accurately into our system of record
- Use the loan documentation software to accurately create legal
agreements/contracts
- Execute a post-closing examination of loan documents for
accuracy and completeness and perform upload of documents to the
system of record
- Verify all applicable fees have been collected from the
borrower and loan proceeds disbursed according to schedule
- Send loan specific information to Loan Servicing for core
system input and maintenance
- Verify proper approval has been obtained, including approval
from SBA, FSA, etc.as appropriate
- Ensure proper loan entry/buildout into Loan Origination System
(LOS) SBA Module
- Ensure proper SBA Forms and Disclosures are completed and
properly executed at time of application and closing
- Submit and obtain SBA Loan approval through E-Tran or SBA One
for newly originated SBA loans and SBA modifications as required by
the Servicing and Liquidation Actions Matrix as needed
- Order and review CAIVRS and IRS Tax Transcript
verifications
- Coordinate and execute Letter of Credit documentation for Small
Business portfolios
- Support all SBA closings, regardless of LOB in which they are
originated
- May mentor more junior team members
- Ensure compliance with Northwest's policies and procedures, and
Federal/State regulations
- Navigate Microsoft Office Software, computer applications, and
software specific to the department to maximize technology tools
and gain efficiency
- Work as part of a team
- Work with on-site equipment
Education + Experience
- Bachelor's degree in related field preferred
- 5-6 years of previous SBA experience preferred
- 5-6 years of previous loan closing / loan operations experience
required
- Ability to establish effective working relationships among team
members and participate in solving problems and making
decisions
- Ability to present and express ideas and information clearly
and concisely in a manner appropriate to the audience, whether oral
or written
- Ability to actively listen to what others are saying to achieve
understanding, sharing information with others and facilitating the
open exchange of ideas and information
- Ability to establish courses of action for self to accomplish
specific goals, develop and use tracking systems for monitoring own
work progress, and effectively use resources such as time and
information
- Ability to make right decisions based on perceptive and
analytical processes, practicing good judgment in gray areas
This position can be performed onsite in a hybrid capacity or
remotely.
#LI-EK1
#LI-remote
#LI-hybrid
Equal Opportunity Employer/Protected Veterans/Individuals with
DisabilitiesThe contractor will not discharge or in any other
manner discriminate against employees or applicants because they
have inquired about, discussed, or disclosed their own pay or the
pay of another employee or applicant. However, employees who have
access to the compensation information of other employees or
applicants as a part of their essential job functions cannot
disclose the pay of other employees or applicants to individuals
who do not otherwise have access to compensation information,
unless the disclosure is (a) in response to a formal complaint or
charge, (b) in furtherance of an investigation, proceeding,
hearing, or action, including an investigation conducted by the
employer, or (c) consistent with the contractor's legal duty to
furnish information. 41 CFR 60-1.35(c)
Keywords: Northwest Bank, Manchester , Sr. SBA Loan Closing Specialist, Other , Manchester, New Hampshire
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