Closing & Disbursement Specialist

Closing & Disbursement Specialist – Exchange Bank

Exchange Bank is seeking a skilled professional to manage the closing and disbursement process for commercial, residential, and SBA loans. The role requires strong knowledge of loan procedures, regulatory compliance, and effective communication with internal and external stakeholders.

• Review commercial, mortgage, and lease documents to ensure all conditions are met prior to funding or disbursement.
• Verify accuracy of files, credit memos, loan documents, and escrow instructions, and queue them for funding or disbursement.
• Serve as liaison between title and escrow officers, attorneys, participating banks, appraisers, environmental firms, and internal bank departments.
• Examine preliminary reports, title policy exceptions, easements, and legal descriptions for compliance with bank policy.
• Monitor appraisal reviews, flood insurance, and other insurance requirements for loan pre‑closing.
• Confirm that all closing documents are balanced and fully compliant after the loan is closed; enter information into the loan tracking system for follow‑up.
• Assist department management in following up on internal audit and outside examination exceptions as needed.
• Fund new loan packages via cashier’s check, deposit, credit, or wire, and disburse credit line funds to borrower accounts after verifying proper protocol and authority.
• Prepare, process, and submit ACH and wire fundings and disbursements for approval in a timely and compliant manner.

• Conduct detailed reviews of construction, land development, residential, SBA, commercial, and mortgage loans, ensuring all conditions are satisfied prior to funding.
• Ensure accuracy and readiness of files, credit memos, loan documents, and escrow instructions for funding or disbursement.
• Maintain liaison relationships with title and escrow officers, attorneys, participating banks, appraisers, environmental firms, customers, and bank departments.
• Review preliminary reports, title policy exceptions, easements, and legal descriptions for pre‑ and post‑closing documents to satisfy bank policy.
• Oversee appraisal reviews, flood insurance, and other insurance requirements for loan pre‑closing.
• Guarantee that all closing documents are balanced and fully compliant upon loan closure; log into the loan tracking system for follow‑up.
• Coordinate with department management to address internal audit and outside examination exceptions.
• Fund loan packages via cashier’s check, deposit, credit, or wire as required; disburse credit line funds to borrower accounts after confirming proper protocol and authority.
• Prepare, process, and submit ACH and wire fundings and disbursements for approval.
• Issue payoff statements to title companies for construction and land development loans and ensure accurate processing by the Loan Service Center.

• Basic knowledge of commercial real estate, mortgage lending, construction, SBA, and consumer loan closing and disbursement methodologies.
• Basic understanding of regulatory compliance requirements.
• Proficiency with a personal computer, Microsoft Office Suite (Word, Outlook, Excel), and web/internet usage.

• Intermediate knowledge of commercial real estate, mortgage lending, construction, SBA, and consumer loan closing and disbursement methodologies.
• Intermediate understanding of regulatory compliance requirements and SBA SOP.
• Intermediate computer skills, especially Microsoft Office Suite and web/internet usage.

• Level I:
  Associate’s degree in business or related field, or equivalent through a minimum of two years of banking or administrative experience.
• Level II:
  Associate’s degree in business or related field, or equivalent through a minimum of two years of experience in construction, commercial, or residential lending.

• Ability to stand, bend, stoop, sit, walk, twist, and turn.
• Ability to lift up to 25 pounds occasionally.
• Ability to use a computer keyboard and calculator.
• Work environment is indoor; majority of time spent seated at a desk.

The hiring range for this position is $23.35 to $33.10 per hour, commensurate with the candidate’s applicable experience, education, and skills.

• Full-time

• Entry level

• Finance and Sales
• Banking

Location:

Santa Rosa, CA