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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 Specialist, 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. Will be responsible for resolving any issues that come up during the closing process.
Responsibilities
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
Requirements
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, paralenders, insurance firms, and attorneys
Expertise in use of computers, Microsoft Office (Excel, Word, Outlook)
Experience with commercial loan systems
Nice-to-haves
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 LaserPro
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
