SBA Closing Specialist

Interested in joining one of the fastest growing commercial real estate firms and the #4 commercial mortgage REIT in the country? Ready Capital is searching for experienced and driven professionals to expand our team and grow with our company. We offer a work environment that thrives on collaboration and a corporate culture of employees who are passionate and excited about what they do.

Come work with us!

Ready Capital is a leading commercial real estate and small business lender, providing financing solutions nationwide through a broad range of loan products and platforms. We are committed to delivering reliable capital, maintaining strong regulatory standards, and creating a collaborative environment where employees can make a meaningful impact.

Review Request for Credit Approval, Write-up and Commitment Letter within 24 hours of receipt of legal file, conduct introductory call to borrower and prepare/send Closing Checklist detailing documentation required for loan closings. Regularly liaise with federal and state regulators. Follow up, review and approve all Closing checklist/borrower due diligence items required for loan closing. Determine what is required to perfect security interest in collateral and decide when loan file is ready to close.

Analyze supporting documents provided by borrowers and third parties to determine if they meet RCL approvals/standards and make decision that loan is thoroughly documented in accordance with RCL and SBA policies and credit approval memorandums. Ensure all required hazard, contents, liability and/or flood insurance coverage has been obtained on industry required forms naming RCL as mortgagee and/or loss payee. Maintain excellent level of customer service by being responsive to calls and emails from borrower and inside staff regarding loans in process within 24 hours of receipt.

Order appropriate third-party searches (flood, good standing certificates, UCC, title, judgment and bankruptcy) for all borrowers/guarantors. Compliant with RCL policies/procedures and have knowledge of SBA SOPs and regulations Prepare and review all required SBA, legal and state specific documents required for loan closing. Become an integral part of the SBA Closing Team. Responsible for following updated SBA policy notifications when issued.

Master RCL’s construction policy, follow guidelines in notifying SBA of any modifications to the construction project such as but not limited to extension of maturity date, increase or decrease to the loan amount. Responsible for reviewing site inspection reports for accuracy and process of the project as well as relaying any unforeseen issues to credit and management Manage productivity by ensuring proper communication with borrower, general contractor and vendors to limit 1 to 2 disbursements per month Act as liaison between Legal Counsel, Escrow, Title, deal team and all interested parties to coordinate document preparation, loan signing, funding, and closing.

Review and approve closing settlement statements, escrow documentation, insurance, and outstanding loan conditions. Prepare funding information sheets detailing wiring information and use of loan proceeds. Coordinate with accounting to assure timely release of wires for loan fundings. Prepare closing packages of documents and ensure legal file is in compliance with RCL policies before transferring for Compliance Review Provide assistance with portfolio acquisition due diligence Adhere to turn time requirements.

Additional duties as requested by Closing Manager.

Average of 4-5 loans closed monthly or as modified by RCL management. Average calendar days to fund from date processed loan received in Funding. Percent of loans closed by contract closing date. Overall file quality rating as determined by Closing Manager. Quality control error percentage. Customer Satisfaction Survey results. Timing requirement on forwarding completed loan packages to Compliance Department.

Bachelor’s degree preferred. Paralegal Certificate preferred. Minimum of 2 years of commercial mortgage lending…