Commercial Loan Processor​/Closer

Job Details

Job Title: Commercial Loan Processor/Closer

Job Location: Corporate Operations Center - Warren, OH 44483

The Commercial Loan Processor/Closer is responsible for processing and closing commercial loans including real estate secured, non‑real estate secured, and unsecured loans. The position interacts with members, loan officers, and third parties to create a smooth and timely loan closing process and ensure compliance with applicable regulations, policies, and procedures.

• Order and obtain all third‑party services as well as information needed from members to close, including appraisal, appraisal review, title, survey, flood certificates, insurance, condominium documentation, environmental reports, and any documentation required to clear all conditions to close noted in the credit memo in a timely manner.
• Ensure all required information is organized in loan file including commercial application, approved credit memo, appraisal, flood certificate, title, and environmental reports.
• Follow clear‑to‑close process to ensure commercial loans are closed timely and in accordance with the credit approval memorandum; review approvals and verify conditions are satisfied by obtaining any required information and verifying the data.
• Keep all parties to the transaction informed as to the current status of the file, pending items needed to close, and timeline for outstanding items.

• Prepare loan documents utilizing document preparation software or by coordinating with outside counsel if attorney‑prepared documents are required; ensure all documents have appropriate signature blocks for business entities and that beneficial ownership information is appropriately completed. Create a full loan package including note, loan agreement, resolutions, guarantees, security agreement, mortgage, assignment of rents, errors and omissions, disbursement authorization, and agreement to provide insurance.
• Review title commitments and settlement statements – resolve exceptions noted in schedule B and ensure all credit union fees are appropriately listed on the settlement statement.
• Coordinate loan closings with all involved including title company, borrower, and loan officer.
• Provide funding instructions to Commercial Loan Administrator.
• Ensure liens are perfected by verifying that mortgages and assignment of rents are appropriately recorded, UCCs are filed, and titled collateral has credit union listed as lienholder.
• Track and resolve post‑closing exceptions.

• Maintain pipeline tracking and exception logs.
• Back up other Commercial Loan Operations positions.
• Assist with regulatory and external audits and exams.
• Keep job processes and procedures up to date.
• Keep abreast of changes within the regulatory environment to ensure compliance while responding to inquiries from auditors and regulatory agencies as necessary.
• Perform all duties in compliance with Federal and State regulations, 7‑17 Board policies, and departmental and credit union procedures.

• High school diploma or equivalent.

• At least 3 years experience processing, underwriting, closing, or servicing commercial loans.
• Excellent communication skills and ability to deal with others in a friendly, courteous, and efficient manner.
• Strong experience and knowledge of the various typical reports and documentation relevant to commercial lending.
• Thorough understanding of payment transactions and loan amortizations, loan processing requirements for new loans, portfolio maintenance requirements, recognizing and correcting errors.
• Demonstrated accuracy and attention to detail in performing daily duties while working in a fast‑paced environment.
• Proficient in Microsoft Excel and Word software to prepare loan presentations, closing packets, and other duties.
• Proficient knowledge of commercial loan structures including loan participations, lien perfection, regulatory compliance, and document management.

• Customer service attitude and skills: team player attitude, commitment, patience, enthusiasm, creativity,…