Sr. SBA Loan Closing Specialist

Job Summary

The Senior Small Business Administration Loan Closing Specialist 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

• Identify business entity types and collect the corresponding legal documentation that they are required to file with the state or county
• Utilize the loan workflow and specific tasks within the Loan Origination System, help to identify best practices
• Order, review and analyze all required third-party vendor documents in relation to the collateral to be held on the loan
• Complete all due diligence associated with the satisfaction of loan approval conditions as well as customer identification requirements in a timely manner
• Verify the loans have been approved by the appropriate level of authority
• Be the point of contact between the lender, underwriter, customer, attorney and / or title company, and SBA as needed
• Ensure all required due diligence and approval documentation has been indexed accurately into our system of record
• Use the loan documentation software to accurately create legal agreements / contracts
• Execute a post-closing examination of loan documents for accuracy and completeness and perform upload of documents to the system of record
• Verify all applicable fees have been collected from the borrower and loan proceeds disbursed according to schedule
• Send loan specific information to Loan Servicing for core system input and maintenance
• Verify proper approval has been obtained, including approval from SBA, FSA, etc.as appropriate
• Ensure proper loan entry / buildout into Loan Origination System (LOS) SBA Module
• Ensure proper SBA Forms and Disclosures are completed and properly executed at time of application and closing
• Submit and obtain SBA Loan approval through E-Tran or SBA One for newly originated SBA loans and SBA modifications as required by the Servicing and Liquidation Actions Matrix as needed
• Order and review CAIVRS and IRS Tax Transcript verifications
• Coordinate and execute Letter of Credit documentation for Small Business portfolios
• Support all SBA closings, regardless of LOB in which they are originated
• May mentor more junior team members
• Ensure compliance with Northwest’s policies and procedures, and Federal / State regulations
• Navigate Microsoft Office Software, computer applications, and software specific to the department to maximize technology tools and gain efficiency
• Work as part of a team
• Work with on-site equipment

Education + Experience

• Bachelor’s degree in related field preferred
• 5-6 years of previous SBA experience preferred
• 5-6 years of previous loan closing / loan operations experience required
• Ability to establish effective working relationships among team members and participate in solving problems and making decisions
• Ability to present and express ideas and information clearly and concisely in a manner appropriate to the audience, whether oral or written
• Ability to actively listen to what others are saying to achieve understanding, sharing information with others and facilitating the open exchange of ideas and information
• Ability to establish courses of action for self to accomplish specific goals, develop and use tracking systems for monitoring own work progress, and effectively use resources such as time and information
• Ability to make right decisions based on perceptive and analytical processes, practicing good judgment in gray areas
30+ days ago