SBA USDA Closing Specialist
SBA USDA Closing Specialist
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Job Description
GENERAL DESCRIPTION OF POSITION
The SBA & USDA Closing Specialist is responsible for all aspects of SBA & USDA loan closings process all draw requests (including construction funding managing the SBA Passthru GL/Account).
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Review of the Credit Memo/LOM for accuracy and any changes (Addendums) needed. This duty is performed daily about 50 of the time.
2. Prepare the closing checklist for the borrower &/or loan officer. This duty is performed daily about 25 of the time.
3. Notate any exceptions (check/include on the LOM). This duty is performed daily about 10 of the time.
4. Enter the loan/package into SBA One/ETran/Wizard to obtain the SBA Authorization. This duty is performed weekly about 25 of the time.
5. Send 327 Action Notices for any changes/addendums to the SBA Authorization. This duty is performed weekly about 10 of the time.
6. Review the loan application and supporting documentation request updated documents if needed. This duty is performed daily about 25 of the time.
7. Send updated documents to the credit analyst to update the file/credit memo &/or addendum. This duty is performed weekly about 25 of the time.
8. Engage Closing Attorney &/or Title Agent (if real estate is included). This duty is performed weekly about 25 of the time.
9. Order appraisal through RIMS Environmental Survey Title (any due diligence reports). This duty is performed weekly about 25 of the time.
10. Review the Commitment Letter/Conditions for accuracy. This duty is performed weekly about 10 of the time.
11. Review the Credit Memo (and any Addendums) and updated Conditions add to closing process. This duty is performed daily about 10 of the time.
12. Work directly with the borrower guarantors and loan officers to keep them updated. This duty is performed weekly about 25 of the time.
13. Schedule the loan closing (include the loan officer). This duty is performed weekly about 20 of the time.
14. Research UCCs Liens etc (verify with closing attorney). This duty is performed daily about 25 of the time.
15. Clear any 912 issues liens UCCs (ensure First lien position on business assets). This duty is performed monthly about 25 of the time.
16. Collect all supporting documentation from the borrower/guarantors (invoices receipts etc). Scan file into OnBase (Fortis). This duty is performed daily about 10 of the time.
17. Verify Cash Injection or equity injection. This duty is performed daily about 20 of the time.
18. Order appraisal on any personally owned properties offered as collateral and monitor Construction projects. This duty is performed monthly about 25 of the time.
19. Completes required BSA/AML training and other compliance training as assigned. This duty is performed as needed.
20. Ensure Loan Covenants are included the Loan Agreement per the Credit Memo/Conditions. This duty is performed weekly about 25 of the time.
21. Maintain GL Account (SBA Passthru) originate or approve wires for closings/draws. This duty is performed monthly about 25 of the time.
22. The ability to work in a constant state of alertness and in a safe manner. This duty is performed daily.
23. Engage site inspection vendor/provider as needed for draw requests. This duty is performed monthly about 25 of the time.
24. Audit cashier checks/keep log. This duty is performed monthly about 5 of the time.
25. Keep up to date on WSJ Prime/rate changes (update the Credit Memo & SBA Authorization). This duty is performed monthly about 10 of the time.
26. Perform any other related duties as required or assigned.
QUALIFICATIONS
To perform this job successfully an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge skill and/or ability required.
EDUCATION AND EXPERIENCE
Broad knowledge of such fields as accounting marketing business administration finance etc. Equivalent to a four year college degree plus 3 years related experience and/or training or equivalent combination of education and experience.
COMMUNICATION SKILLS
Ability to read analyze and understand general business/company related articles and professional journals; Ability to speak effectively before groups of customers or employees. Ability to write reports business correspondence and policy/procedure manuals; Ability to effectively present information and respond to questions from groups of managers clients customers and the general public.
MATHEMATICAL SKILLS
Ability to calculate figures and amounts such as discounts interest commissions proportions percentages area circumference and volume. Ability to apply concepts such as fractions ratios and proportions to practical situations.
CRITICAL THINKING SKILLS
Ability to define problems collect data establish facts and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
REQUIRED CERTIFICATES LICENSES REGISTRATIONS
Not indicated.
PREFERRED CERTIFICATES LICENSES REGISTRATIONS
Not indicated.
SOFTWARE SKILLS REQUIRED
Advanced: Database Word Processing/Typing
Intermediate: Alphanumeric Data Entry Other Spreadsheet
Basic: 10Key Accounting Contact Management Presentation/PowerPoint
WORKING CONDITIONS
Normal working conditions as found within an office setting wherein there is controlled temperature and a low noise level plus a minimum of distractions.
ENVIRONMENTAL CONDITIONS
The following work environment characteristics described here are representative of those an employee encounters while performing essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
PHYSICAL ACTIVITIES
The following physical activities described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions and expectations.
Moderate diversity low physical. Work activities which allow for a moderate amount of diversity in the performance of tasks which are not as varied as those positions with highlevel diversity and decisionmaking.
While performing the functions of this job the employee is regularly required to walk sit reach with hands and arms talk or hear; frequently required to use hands to finger handle or feel; and occasionally required to stand. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.
ADDITIONAL INFORMATION
Experience and knowledge of SBA Loan Documentation/Closing 7a and 504 loans) USDA and SBA products commercial real estate.
Excellent organizational skills with the ability to handle multiple priorities.
Must be able to interpret specific policies procedures regulations etc.
Must have knowledge/experience with SBA One/ETran/SBA Wizard system.
Knowledge of the current/most recent SBA SOP.
Required Experience:
Unclear Seniority
Employment Type
Full-Time
