Loan Closer/Processor

    • Job Tracking ID: 512830-623563
    • Job Location: Chicago, IL
    • Job Level: Any
    • Level of Education: Any
    • Job Type: Full-Time/Regular
    • Date Updated: June 06, 2018
    • Years of Experience: 2 - 5 Years
    • Starting Date: ASAP
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Job Description:

Job Context Information

The Mission Investment Fund’s primary purpose is to support the establishment and growth of ELCA congregations, synods, and affiliated ministries. This is accomplished by proving loans, income-producing investment opportunities and consultative services via the various products offered by the Mission Investment Fund.

Job Purpose

The Loan Closer/Processor guides congregations and other ELCA ministries through the process of closing, providing coaching for borrowers and ensuring timely, accurate due diligence to facilitate a successful closing.

Job Responsibilities

1. Once the loan is approved, order or prepare loan documents according to the credit approval, internal policies and procedures as well as various regulations. Review loan documents prior to being executed, review executed documents prior to funding, verify all outstanding conditions have been met, and fund loans according to deadlines. Verify completeness of files with all necessary documents and required signatures.

2. Serve as the point of contact for ministries, title officers, escrow officers and attorneys.Work with lending staff to resolve discrepancies in collateral documentation.Perform review of commercial loan and collateral documents and loan packages to ensure MIF’s security interest and adherence to established policies and procedures.

3. Send documents to ministries for signatures. Work with ministries to ensure all proper documentation is obtained to complete the loan process. Follow up with borrowers, attorneys and title companies regarding collection of executed documents.

4. Review all closing documents to ensure they are properly executed, recorded and received.Send executed documents to title companies for recording.

5. Prepare modifications/buydown legal documents for recording and follow-up on returned legal documents before and after recording.

6. Follow up with any outstanding conditions and audit all funded files prior to submitting to the file room. Scan all necessary information and documents as outlined in the loan department procedures.

7. Ensure all duties are performed in compliance with MIF’s Loan Policy and procedures.

8. Serve as a primary point of contact with borrowers and build lasting relationships. Achieve and maintain general knowledge of other aspects of MIF which may include providing customer service and selling MIF products and services as needed.

9. Perform other duties as required.

Travel.

None.

Physical Effort.

While performing the duties of this job, the employee is regularly required to talk and hear stretch and reach, use hands and fingers to operate a computer keyboard and telephone keypad. This position requires sitting for long periods of time. Employee may be expected to lift boxes weighing generally, from two to five pounds, but as much as 50 pounds.

Experience and Skills:

  1. Bachelor’s or Associate’s degree preferred
  2. Minimum 3 years of experience in commercial or residential loan processing
  3. Basic knowledge of lending processes and procedures, loan documentation, exceptions, collateral review, payment and loan systems. Knowledge of banking processes.
  4. Must have good organizational and customer service skills. Must be able to work in a team environment.
  5. Must possess numeric and verbal aptitudes.