DESCRIPTION
Summary:
The CRE Loan Closing Specialist Sr. is responsible for initiating and driving
the loan closing process, and for the integrity of the loan closing, due
diligence, and documentation while managing and expediting complex and
concurrent processes and organizing all necessary documentation to finalize
complex Commercial Real Estate loan transactions. The CRE Loan Closing
Specialist Sr. ensures accuracy, compliance with regulations, and coordinates
activities, decisions, and communications with various parties involved, such as
lenders, borrowers, legal teams and other third parties. This position involves
meticulous attention to detail and a thorough understanding of Commercial Real
Estate loan terms including legal concepts, collateral acceptability, and final
closing conditions. Expertise in review and interpretation of deal structures
and legal documentation along with working through “gray areas” presented is
required. Additionally, CRE Loan Closing Specialist Sr. reviews and signs
closing documents, ensures the loan structure and terms conform to the credit
approval and bank policies, confirms requirements are in place, and identify and
appropriately mitigate exceptions to facilitate smooth and timely closing. This
position works closely with customers, outside counsel and external consultants,
Credit Administration, and Commercial Real Estate partners along with other
business segments to deliver outstanding experience to customers and business
partners, while carrying out sound risk management practices within a dynamic
business development environment.
Duties and Responsibilities:
* As a CRE Loan Closing Specialist, Sr., your role involves overseeing and
managing the entire commercial loan closing process. Responsibilities
include:
* Leadership: Provide leadership and guidance to deal teams, ensuring cohesion
and effective collaboration. Mitigates issues/questions being elevated to
Management.
* Complex Transactions: Handle intricate and high-value commercial real estate
loan transactions, with custom, complex terms and due diligence that involve
construction, acquisition, bonds, tax credits, credit derivatives,
participations, and syndication transactions etc, demonstrating an advanced
understanding of complex financial structures.
* Compliance Oversight: Ensure strict adherence and serve as control point to
regulatory requirements (such as Flood and OFAC) and industry standards (such
as Construction Monitoring and Specialized business needs) throughout the
loan closing process.
* Problem Resolution: Address and resolve complex lending issues that may arise
during the closing process, facilitate and collaborate with various
stakeholders, communicates and/or escalate risks, pursues corrective action
and drives solutions.
* Orders and reviews due diligence such as flood determinations, insurance,
title commitments, and other pre-closing items, and coordinates review with
respective deal team, outside counsel and other third parties. Prepares
closing statements, ensuring all fees are collected (e.g. appraisal fees,
commitment fees and other closing fees). Prepares forms necessary to book
loan on system of record.
* Responsible for clearing any outstanding post-closing items and collateral
exceptions and ensures accuracy of loan and customer information on the
system of record; works with Commercial Loan Servicing to resolve errors.
Manages closing checklist, certifications, and closing files according to
standards.
* Training and Mentoring: Train and mentor junior loan closers, sharing
expertise and best practices to enhance the team's overall performance.
* Process Improvement: Identify opportunities to enhance efficiency and
effectiveness in the loan closing process, and work with management to
implement improvements where needed.
* Client Interaction: Engage with clients, lenders, and legal teams to
facilitate smooth and transparent communication throughout the closing
stages.
* Risk Management: Assess through critical thinking and mitigate potential
risks associated with commercial loan transactions, ensuring the protection
of the institution's interests along with that of our fellow colleagues and
borrowers.
* Quality Assurance: Implement quality control measures to guarantee the
accuracy and completeness of loan documentation.
* Strategic Decision-Making: Participate in strategic decision-making related
to commercial loan operations, providing insights and recommendations based
on experience and industry knowledge.
* Performs other duties as assigned.
Basic Qualifications:
* Bachelor’s Degree
* 7+ Years Commercial Loan Closing or Commercial Loan Administration.
Preferred Qualifications:
* Communication Skills: Effectively communicating with various stakeholders,
including lenders, borrowers, and internal and external teams.
* Detail-Oriented: Meticulously checking details of the Credit Approval and
Draft loan documentation to ensure all aspects of the loan closing process
are accurate, error-free and comply with policy.
* Time Management: Managing a large complex commercial loan portfolio
encompassing multiple tasks and deadlines to ensure timely completion of loan
closings.
* Problem-Solving: Identifying, decisioning and resolving issues and
discrepancies that may arise during the loan closing process in a proactive
and efficient manner through strong critical thinking and analytical skills.
* Partner Collaboration and Category of One Service: Providing excellent
service to both internal and external clients throughout the closing process.
* Technical Proficiency: Utilizing loan management software and other tools to
streamline processes and maintain accurate records.
* Adaptability: Leading and adapting to changes in procedures, regulations, or
industry practices to ensure ongoing effectiveness in the role.
Exempt Status: (Yes = not eligible for overtime pay) (No = eligible for overtime
pay)
Yes
Workplace Type:
Office
Our Approach to Office Workplace Type
Certain positions outside our branch network may be eligible for a flexible work
arrangement. We’re combining the best of both worlds: in-office and work from
home. Our approach enables our teams to deepen connections, maintain a strong
community, and do their best work. Remote roles will also have the opportunity
to come together in our offices for moments that matter. Specific work
arrangements will be provided by the hiring team.
Compensation Range:
$70,000.00 - 140,000.00 Annual Salary
The compensation range represents the anticipated low and high end of the base
compensation range for this position. Actual compensation will vary based on
various factors including but not limited to location, experience, and
education. Colleagues in this position are also eligible to participate in an
applicable incentive compensation plan. In addition, Huntington provides a
variety of benefits to colleagues, including health insurance coverage, wellness
program, life and disability insurance, retirement savings plan, paid leave
programs, paid holidays and paid time off (PTO).
Huntington is an Equal Opportunity Employer.
Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more
details.
Note to Agency Recruiters: Huntington will not pay a fee for any placement
resulting from the receipt of an unsolicited resume. All unsolicited resumes
sent to any Huntington colleagues, directly or indirectly, will be considered
Huntington property. Recruiting agencies must have a valid, written and fully
executed Master Service Agreement and Statement of Work for consideration.