SBA Closing Specialist- CBG Operations; Remote

Job Description

At Regions, the SBA Closing Specialist is responsible for managing the loan processing/closing process, from loan approval through booking and funding for SBA 7(a), Express, and 504 government guaranteed loans. This includes working directly with and leading the coordination of SBA client borrowers, SBA Specialists, Assistants, internal staff, closing attorney firm, and applicable third parties (i.e. insurance companies) as required. The scope includes the collection, review, and approval of required documents, in addition to performing searches, preparing flood review packages, overseeing collateral perfection, and confirming satisfaction of equity requirements.

The specialist will be responsible for resolving any issues that arise during the closing process.

• Reviews approved loan packages received from Underwriting to include credit memos, commitment letters, terms and conditions to ensure critical components have been provided by the lending officer for the documentation process
• Manages the most complex transactions, requiring a high degree of autonomy and the ability to draw upon expertise and knowledge in the SBA documentation process
• Accurately and quickly determines documentation requirements based on SBA SOP and Regions Credit Policy guidance
• Creates and maintains the closing checklist
• Trains and mentors more junior team members
• Monitors Closing Team Portfolio for assignments and peer reviews
• Coordinates and leads communications with the borrower, SBA Specialist, Assistants, internal staff, and closing attorneys
• Sets up third party engagements commensurate with credit approval, including but not limited to attorneys, real estate and business appraisers, etc.
• Identifies, requests, and reviews critical documents related to entity searches, UCC searches, flood determinations, construction financing, and other required supporting documentation and has authority to resolve key issues related to these pieces
• Submits applications through the appropriate SBA systems (ETran and SBA One) for guaranty authorizations
• Prepares various loan documents for closing
• Prepares or coordinates the preparation of legal documents in response to issues discovered during the closing process to mitigate risks associated with SBA or Regions Program requirements
• Confirms satisfaction of loan approval terms and equity requirements prior to closing
• Ensures post-closing booking, funding, and title searches are properly administered and documented
• Independently monitors loan packages throughout the process to identify potential risks related to the effective and efficient processing of the loan and to protect the Bank's interests
• Maintains currency with SBA SOP requirements, procedures, and changes

This position requires the tracking of time and is eligible for overtime for hours worked in excess of 40 per week under the Fair Labor Standards Act.

• High School Diploma or GED
• Six (6) years of SBA closing experience and knowledge of SBA loan program requirements or equivalent work experience
• Advanced commercial credit knowledge including loan closing, legal documentation, construction financing, and exceptions
• Expertise in reviewing insurance, title work, surveys, collateral, lien filings, appraisals, construction due diligence, and environmental reports
• Experience working with commercial sales associates, underwriters, para lenders, insurance firms, and attorneys
• Expertise in use of computers, Microsoft Office (Excel, Word, Outlook)
• Experience with commercial loan systems

• Advanced knowledge of SBA's SOP requirements and regulations with ability to work on the most complex loan files
• Specialized training in title, real estate, government programs (SBA), and specialized lending programs
• Experience with nCino and/or related Salesforce platforms
• Experience with SBA systems (ETran, SBA One, TSOFT)
• Experience with Laser Pro
• Bachelor's degree or certification as a paralegal

• Demonstrated strong verbal and written communication skills for the purpose of explaining the loan closing process, exceptions and associated legal documentation to internal/external clients and appropriate counsel
• Strong communication and interpersonal skills
• Strong organizational skills and the ability to handle multiple tasks under tight time constraints

If located within the Birmingham metro area, in office expectations will be Monday-Thursday. Opportunity could be remote if located outside of Birmingham.

This position may be filled at a higher level depending on the candidate's qualifications and relevant experience.

Full time

Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual…