Loan Closing Analyst

Loan Closing Analyst

Job Description:

The Loan Closing Analyst 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:

• Differentiate the kinds of business structures and acquire the essential legal paperwork that is obligatory to file with the state or county
• Harness the loan origination system's workflow and unique responsibilities to pinpoint exemplary methods
• Coordinate the gathering, evaluation, and scrutiny of all indispensable third-party vendor documents linked to the collateral to be used as security for the loan
• Ensure that all loan approval conditions are satisfied and customer identification requirements are met promptly by completing all necessary tasks diligently
• Ascertain that the loans have been approved by the rightful level of authority
• Assume the responsibility of coordinating communications between the lender, underwriter, client, attorney, and title company, along with interactions with the SBA as necessary
• Validate that all needed examination and permission documentation has been properly filed in our central database
• Harness the loan documentation software to facilitate the accurate generation of legal agreements and contracts
• After the closing phase, meticulously examine loan documents to ensure their accuracy and completeness, then initiate the process of uploading them to the record system
• Validate that all appropriate fees have been collected from the borrower and that the loan money has been distributed in line with the schedule
• Deliver loan-specific data to Loan Servicing for system input and ongoing maintenance
• Check that the appropriate sanctions have been obtained, which may include approvals from SBA, FSA, and other relevant agencies, as necessary
• Ensure the accurate registration and design of loan particulars in the SBA Module of the Loan Origination System to enable a smooth loan initiation process
• Validate the accurate completion and signing of all SBA forms and disclosures during the loan application and closing phases
• Facilitate the submission and approval process of SBA loans utilizing E-Tran or SBA One for newly originated loans and modifications based on the Servicing and Liquidation Actions Matrix requirements
• Acquire and scrutinize verifications from CAIVRS and IRS Tax Transcript sources
• Arrange and handle the paperwork involved in Letter of Credit transactions for Small Business portfolios
• Confirm the closure of all SBA agreements, irrespective of the area of operation in which they were initiated
• Ready to provide mentorship for less seasoned colleagues
• Stay in line with Northwest's policies and procedures, along with adhering to Federal/State regulations
• Enhance efficiency through proficient use of Microsoft Office tools, computer applications, and department-specific software to leverage technology effectively
• Contributing collaboratively within a team setting is vital for project accomplishment
• Employ on-site tools and machinery
• Perform supplementary tasks and specific projects as delegated by management
• Uphold safety standards within the workplace by adhering to the prescribed safe work practices detailed in the safety and loss prevention program, aiming to discourage any unsafe work habits among employees
• Maintain the fair and uniform application of safe operational protocols
• Ensure that all employees are familiar with the appropriate responses in case of an emergency

Education and Experience:

• Having completed a bachelor's program in a relevant discipline is ideal
• Previous experience working with the SBA within the past 5-6 years is advantageous
• Proficiency in managing the closing process for construction loans is desirable
• A required qualification for this position is 5-6 years of experience in loan closing or loan operations

The position offers the possibility of remote work, but requires on-site presence for those living within 40 miles of any Hub locations indicated below. If residing in close proximity to these sites, attendance at the office is mandatory from Monday to Thursday, while Friday allows for remote working arrangements.

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