SBA Loan Closer

Commercial Bank of California Los Angeles, CA
SBA Loan Closer is responsible for administration and performing duties to processing, packaging, funding, and servicing of SBA loans, ensuring that loans comply with all SBA and Banking regulations with minimum supervision while meeting deadlines of customers and Bank portfolio needs. In addition to job description for SBA Loan Administrator, the position also requires to be knowledgeable and skilled in all areas of the SBA loan processing and servicing and is expected to provide leadership, training and support to less experienced staff members. Responsible for accuracy of loan documents and completeness of loan files with regard to loan approval. Responsible for performing loan servicing and assisting SBA Administrator. Performs all duties related to more complex loan documentation. Administers and performs all functions to ensure guaranty and compliance with bank's regulatory requirements by the constant maintenance and review of the portfolio.

PRIMARY FUNCTIONS (Other duties may be assigned)

Review of Credit Authorization to determine eligibility of the loans approved subject to an SBA guaranty

Complete audit and review of loan files including but not limited to title review, other lien searches and compliance with SBA guideline and generation of pending items to close the loan

Preparation of loan documentation and SBA loan application

Submission of loan package to SBA for approval (GP and PLP submission)

Processing and Closing of loans according to loan approval

Communicating with brokers, title companies and escrow companies for proper closing

SBA loan servicing including but not limited to collateral releases and substitutions.

Review loan booking/ payment processing in the Core system, identify any possible issues/errors and correct

Preparation and Submission of loan package for Secondary market sale approval and 1086 Form

Coordinate proper filing of documents with required recording counties and/or states and ensure perfection of collateral interests and lien position

Processing payment of SBA Guaranty Fee and any other applicable Fee

Maintaining Loan File including following up on any loan deficiencies to avoid audit exceptions and/or exposure to loss or litigation.

Performing Post Closing Review of loans closed by less experienced staffs

Tickler Follow up – Insurance – as required

Preparation of any internal or external audits

Providing reports and performing any special projects and other duties as assigned.

Assisting SBA Administrator

Train and guide less experienced staffs to ensure loans being closed in compliance with SBA and Bank's guideline and regulations

Perform other duties as assigned.

QUALIFICATIONS

Education/Training/Experience:

Required: High School Diploma; and 4-6 years related experience, or equivalent combination of education and experience

Desirable: Bachelor's degree in Business Administration/ Finance, Accounting or related field; Two years of consumer or commercial lending experience.

Knowledge:

4-6 years previous SBA loan processing and servicing experience

In Depth knowledge of SBA rules and regulations in processing and servicing, e.g. 1502 report and payment processing

Knowledge in SBA E Tran and/or SBA One

Commercial loan practices and approval procedures

Familiarity with Compliance and Banking Regulations

Operating knowledge of Laser Pro

Familiarity with Loan Servicing System

Real Estate and Non-Real Estate transactions and levels of risk

Abilities:

Technologically proficient in MS Office software and industry specific software.

Detail oriented with strong organizational and follow-through.

Lead and motivate employees to complete tasks in accordance with established standards

Research and analysis techniques to resolve issues

Ability to work effectively in a team or independently

Confidentiality: Maintains a high degree of confidentiality regarding work content and department and Bank matters.

Security: Follows designated processes for management, security, storage and retention of electronic files and paper documents.

Compliance: Meets all compliance requirements related to position and level of authority.

Communication: Excellent analytical, written and verbal communication skills. Communicate with managers, team members and coworkers, clients and vendors, as appropriate. Keeps all need-to-know parties informed of work status.

Analytical: Analyzes assigned tasks, resources and workflow processes to prioritize projects and determine best way of meeting deadlines and requirements.

Organization: Maintains continuous workflow to meet daily/weekly/monthly deadlines. Sets priorities and meets deadlines. Works efficiently under tight or multiple deadlines.

Customer Service: Possesses a high degree of professionalism and excellent customer service skills with internal and external customers.

Licenses; Certificates; Special Requirements:

Continuous training in SBA Standard Operating Procedure

Continuous training in Bank Regulatory