First Tennessee Bank Loan Closing Officer in Memphis, Tennessee
Job Summary The Loan Closing Officer (LCO) is responsible for completing and reviewing existing files as well as ordering due diligence associated with the satisfaction of approval conditions prior to the preparation of loan closing and renewal documents. These responsibilities include requesting, reviewing and critical interpretation of vendor documents needed to prepare loan closing/renewal documents for real estate and non-real estate secured loans originated by Commercial Lending Relationship Managers. Vendor documents consist of but are not limited to the following: residential and commercial appraisals, valuation services, environmental reports, flood certifications, UCC searches, title searches and any other documents as required by the commercial lending relationship manager or senior credit officer.
The position will be the key in reviewing and communicating file variances to the deal team members. The LCO is expected to effectively communicate file findings to minimize the average time between the issuance of a final underwriting decision and the request for loan documentation and due diligence. Working independently and under minimal supervision, the position performs a wide variety of administrative functions relating to proper documentation and file adequacy.
Duties and Responsibilities
Coordinate the closing of commercial real estate and non-real estate loans.
Coordinate the closing of real estate loans by communicating with the Relationship Manager, Underwriter, and title representatives to assure the loan is closed and documented in accordance with credit approval.
Review legal documentation and due diligence items including items required by compliance.
Analyze risk and make decisions based on policy requirements and legal issues.
Order required compliance documentation such as Flood Zone Determination and Appraisal and due diligence items such as UCC Searches, Secretary of State searches, and Title Work.
Identify business issues and legal issues as they arise in the closing process and refer to appropriate route for resolution.
Review and verify closing packages to ensure all documents are present, complete, and all fees are properly documented prior to loan closing.
Note: This position can be located in Memphis, TN, Nashville, TN or Raleigh, NC.
Education and Experience
College graduate preferred
2 to3 years of commercial loan documentation experience
1 to 2 years of loan closing experience
Ability to determine closing requirements including pre-closing document review (including legal documents, contracts, leases, purchase orders, etc.)
Ability to identify and escalate variances (as appropriate)
Ability to assure proper receipt and execution of documents Strong time management and organizational skills evidenced in previous assignments.
Demonstrates an understanding of applicable bank policies and procedures as they pertain to the satisfaction of loan closing conditions as well as vendor documents and services.
Knowledge of most common vendor documents – title work, appraisals, flood determinations, lien searches.
Knowledge of loan documents and requirements.
Knowledge of commercial lending and loan structure.
Thorough knowledge of ALS, LaserPro and other First Tennessee Bank internal banking systems.
Good personal computer skills with demonstrated knowledge of Microsoft Office Suite
Self-starter and works with minimal direction
Strong verbal and written communication skills
Good interpersonal skills and team orientation
Ability to meet deadlines under pressure
Ability to coach and mentor team members
Ability to think independently
Ability to identify documentation and due diligence issues
Ability to offer appropriate resolutions to mitigate risk
Work Schedule Days: Monday – Friday Time: 8am to 5pm
- All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, gender stereo typing, and age. First Tennessee is an EO employer – M/F/Vets/Disabled.
- Please view Equal Employment Opportunity Posters provided by OFCCP here.
Requisition Number: 18-2125
Post Date: 11/23/2018
Title: Loan Closing Officer
Part Time?: No
City: Memphis (TN), Nashville (TN), Raleigh (NC)