Description
Summary:
The CRE Loan Closing Specialist is responsible for initiating and driving the loan closing process, and for the integrity of the loan closing, due diligence, and documentation while managing and expediting complex and concurrent processes and organizing all necessary documentation to finalize complex Commercial Real Estate loan transactions. The CRE Loan Closing Specialist ensures accuracy, compliance with regulations, and coordinates activities, decisions, and communication with various parties involved, such as lenders, borrowers, and legal teams. This position involves meticulous attention to detail and an understanding of commercial real estate loan terms including legal concepts, collateral acceptability, and final closing conditions. Expertise in review and interpretation of deal structures and legal documentation along with working through “gray areas” presented is required. Additionally, CRE Loan Closing Specialists review and may sign closing documents, ensure the loan structure and terms conform to the credit approval and bank policies, confirm requirements to close are in place, and identify and appropriately mitigate exceptions to facilitate smooth and timely closing. This position works closely with customers, outside counsel and external consultants, Credit Administration, and Commercial Real Estate partners along with other business segments to deliver outstanding experience to customers and business partners, while carrying out sound risk management practices within a dynamic business development environment.
Duties and Responsibilities:
As a CRE Loan Closing Specialist, your role involves overseeing and managing the entire commercial loan closing process. Responsibilities include, but are not limited to:
- Leadership: Provide leadership and guidance to deal team, ensuring cohesion and effective collaboration.
- Transactions: Handle intricate and high-value commercial real estate loan transactions, with custom terms and due diligence that involve construction, acquisition, credit derivatives, participation, etc, demonstrating an understanding of financial structures.
- Compliance Oversight: Ensure strict adherence and serve as control point to regulatory requirements (such as Flood and OFAC) and industry standards (such as Construction Monitoring and Specialized business needs) throughout the loan closing process.
- Problem Resolution: Identifying and escalate complex lending issues that may arise during the closing process, collaborating with various stakeholders to find solutions; communicates and/or escalates risks, pursues corrective action and becomes proficient in driving solutions.
- Orders and reviews due diligence such as flood determinations, insurance, title commitments, and other pre-closing items, and coordinates review with respective deal team, outside counsel and other third parties. Prepares closing statements, ensuring all fees are collected (e.g. appraisal fees, commitment fees and other closing fees). Prepares forms necessary to book loan on system of record
- Responsible for clearing any outstanding post-closing items and collateral exceptions and ensures accuracy of loan and customer information on the system of record; works with Commercial Loan Servicing to resolve errors. Manages closing checklist, certifications, and closing files according to standards.
- Process Improvement: Identify opportunities to enhance efficiency and effectiveness in the loan closing process, implementing improvements where needed.
- Client Interaction: Engage with clients, lenders, and legal teams to facilitate smooth and transparent communication throughout the closing stages.
- Risk Management: Assess and mitigate potential risks associated with commercial loan transactions, ensuring the protection of the institution's interests along with that of our fellow colleagues and borrowers.
- Quality Assurance: Implement quality control measures to guarantee the accuracy and completeness of loan documentation.
- Strategic Decision-Making: Engage business partners in strategic decision-making related to the commercial loan closing process.
- Perform other duties as assigned.
Basic Qualifications:
- Bachelor’s Degree
- 5+ Years Commercial Banking or Loan Administration
Preferred Qualifications:
- Communication Skills: Effectively communicating with various stakeholders, including lenders, borrowers, and internal and external teams.
- Detail-Oriented: Meticulously checking details of the Credit Approval and Draft loan documentation to ensure all aspects of the loan closing process are accurate, error-free and comply with policy.
- Time Management: Managing a large loan portfolio encompassing multiple tasks and deadlines to ensure timely completion of loan closings.
- Problem-Solving: Identifying and escalating discrepancies that may arise during the loan closing process in a proactive and efficient manner.
- Partner Collaboration and Category of One Service: Providing excellent service to both internal and external clients throughout the closing process.
- Technical Proficiency: Utilizing loan management software and other tools to streamline processes and maintain accurate records.
- Adaptability: Being adaptable to changes in procedures, regulations, or industry practices to ensure ongoing effectiveness in the role.
Exempt Status: (Yes = not eligible for overtime pay) (No = eligible for overtime pay)
Yes
Workplace Type:
Office
Our Approach to Office Workplace Type
Certain positions outside our branch network may be eligible for a flexible work arrangement. We’re combining the best of both worlds: in-office and work from home. Our approach enables our teams to deepen connections, maintain a strong community, and do their best work. Remote roles will also have the opportunity to come together in our offices for moments that matter. Specific work arrangements will be provided by the hiring team.
Huntington will not sponsor applicants for this position for immigration benefits, including but not limited to assisting with obtaining work permission for F-1 students, H-1B professionals, O-1 workers, TN workers, E-3 workers, among other immigration statuses. Applicants must be currently authorized to work in the United States on a full-time basis.
Huntington is an Equal Opportunity Employer.
Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more details.
Note to Agency Recruiters: Huntington will not pay a fee for any placement resulting from the receipt of an unsolicited resume. All unsolicited resumes sent to any Huntington colleagues, directly or indirectly, will be considered Huntington property. Recruiting agencies must have a valid, written and fully executed Master Service Agreement and Statement of Work for consideration.