Loan Closer

New York, NY 10016

Posted: 10/13/2021 Employment Type: Direct Hire Job Number: 37178 Pay Rate: 80,000

Job Description

Our client--a New York-base bank dedicated to helping local businesses succeed--Is looking to hire a Loan Closer to keep up with growth in the market.

The Loan Closer is responsible for facilitating the close of CRE and C&I loans in accordance with our client' s policies and procedures and assisting the Loan Servicing Manager with assigned projects. The Closer will liaise among the Loan Origination Specialist, Outside Counsel, and Lending Officers to complete Loan Closings and book appropriately. Additionally, they will ensure that loan documents, files, and all related loan data are complete and accurate. Key partners include Lending, Compliance, and Carver’ s external legal counsel.

Essential Duties and Responsibilities

Loan Closings (75%)
  • Process loan closings to ensure that loans close on schedule, including:
    • Coordinate document flow between the Bank’ s closing attorney, the borrower’ s attorney, and the Bank’ s internal teams (i.e., Loan Origination, Loan Servicing, and Portfolio Management).
    • Arrange closing/due diligence conference calls with relevant internal and external transaction parties.
    • Identify business issues and legal issues as they arise in the closing process and refer to appropriate Carver party(s) for resolution.
    • Interact with bankers, attorneys, and borrowers to coordinate closing once all conditions have been satisfied.
  • Establish and maintain a thorough knowledge of all the company' s loan products and investor requirements to ensure quality closing packages and potential salability into the market.
  • Initiate environmental review (Phases I, II, and III) as necessary.
  • Determine escrow or holdback balances and establish related accounts through Retail.
  • Update tickler system in Sage works software with escrow or violation holdback release dates.
  • Create approval exception reporting for management
  • Assemble and prepare closing documents and files, including:
    • Assist in the creation of settlement sheets with counsel and Loan Origination Specialist.
    • Review and verify executed closing packages to ensure all documents are present, complete, and executed and all fees are included with the package.
    • Assist in assembling post-closing package for Loan Servicing Specialist.

Quality Control (15%)
  • Ensure that all loans meet guidelines for quality and regulatory compliance (e.g., Lien and Environmental) and closing standards are met.
  • Assemble final executed loan documents and scan or otherwise upload all executed closing documents into Carver’ s document management system.
  • Update CT Lien database for UCC-1 and UCC-3 filings.
  • Report expected financing needs for potential closings to Accounting Department for cash management purposes.

Loan Servicing (10%)
  • Contribute to loan servicing and assist the Loan Origination Specialist as needed
  • Posting to and balancing multiple participation loans with multiple financial institutions in an accurate and timely manner using the core system
  • Provide payoff letters and verify prepayment penalties
  • Process paid loans, including reviewing the daily closed loan report and releasing collateral according to Carver procedures


  • Minimum Associates Degree or equivalent related business experience.
  • Minimum 5 years’ experience in loan administration and/or loan servicing.
  • Intermediate knowledge of loan servicing activities and terminology
  • Familiarity with all phases of loan processing.
  • Loan documentation experience and basic credit skills required.
  • Strong communications skills, with the ability to communicate effectively verbally and in writing.
  • Excellent organizational, time management, and analytical skills.
  • Strong attention to detail.
  • Knowledge of commercial real estate, construction, business, SBA, residential and consumer mortgage loan processing and loan documentation.
  • Knowledge of State, Federal, and general banking compliance requirements and regulations.
  • Knowledge of Fiserv Premier, EasyLender, and Sageworks loan systems.
  • Excellent Microsoft Excel & Word skills.

Meet Your Recruiter

Jamie Fennessy
Director, Direct Hire Search

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