Job ID: 1816
Job Category: Lending & Financial Services
Employment Type: Full-Time
Relocation Available: No
Location: Emmetsburg
Team: IA Northwest Region Ops

Salary Range: $42,280 - $81,390
Grade Level: 15C, 17C, 18C
Closing Date: Jan 22, 2023

Position Description:

POSITION SUMMARY:

Direct and perform loan-closing function for the team which includes all non-credit issues from the point of loan approval through loan finalizing to include monitoring of appraisal and closing conditions. Maintain understanding of and ensure compliance with all regulations and procedures associated with loan closing. Position has a very high degree of accountability to ensure the repayment and collectability of Association assets through the correct development and implementation of promissory notes, mortgages, and other lending documents. The closer is critical, as once the loan is underwritten, the incumbent handles all aspects of the loan closing including; drafting and reviewing loan documentation, perfecting liens through filing and recording security instruments, managing the title policy/opinion process for exceptions and preparing closing statements. The position represents the Association during the loan closing process through verbal and written communication, is responsible for leading the loan closing with the customer, and coordinates the post-closing follow up. Develop and maintain strong working relationships with customers by providing consistent high-quality service that is timely, thorough, and responsive to customers and exceeds their expectations. Work in a team environment to accomplish team goals.

DUTIES AND RESPONSIBILITIES:

Loan Closing: Direct and perform loan closing function for the team from the point of loan approval through loan finalizing. Coordinate and prioritize workload for loan closing activities. Responsible for contacting customers, realtors, attorneys, etc. to ensure correct documents are available for closing. Limits risk to the organization by timely processing of renewal.

Pre-Closing Activities

• Confirm accuracy of loan pricing and fees. Assist with obtaining exception approvals when needed
• Execute rate lock agreements with the customer, monitor closing deadline and extend rate lock/collect cancellation fee if applicable
• Complete loan verification requirements related to loan documents such as title work, collateral ownership entity verification, legal name verification, etc.
  • Responsible for review of entity and trust documentation and preparation of resolutions to borrow
• Ensure compliance with applicable regulations such as HMDA, Reg B, and Reg Z, order flood determinations when required
• Assist the Financial Officer in validating Loan to Value and Sustainable Value to ensure we are within our lending limits
• Assist Retail Commercial Lending and Leasing in loan/lease processing
• Entry of appraisal into collateral tracking system prior to closing to ensure loan to collateral value requirements are met
• Communicate and update customers through the loan closing process
• Work with credit team to ensure loan conditions are appropriate for loan application
• Work with respective parties to ensure loan conditions are satisfied
• Complete all loan conditions as assigned
• Initiate title work and resolve title issues, including ordering real estate title searches and title insurance policies
• Work with realtors, attorneys and abstracters to resolve title exceptions
• Coordinate closing of all real estate and commercial loans with loan customers and applicable 3rd parties
• Obtain subordinations when necessary

Closing Activities

• Due diligence in preparation of non-consumer new loan origination and loan renewal documents
• Ensure appraisal report matches legal description of property and appraisal conditions are met
• Execute documents with appropriate parties and notarize, if applicable, in accordance with company policy
• Responsible to collect loan fees
• Work with credit team to ensure loan conditions are appropriate for loan applications
• Work with respective parties to ensure loan conditions are satisfied

Post-Closing Activities

• Book loans - add any necessary/related alerts
• Due diligence in perfecting lien position, including:
  • Record and file documents timely, as needed (UCC filing, real estate mortgages, etc.)
  • Follow up on UCC terminations or other lien releases from other lenders
  • Follow up on obtaining vehicle titles
  • Follow up with attorney or title company to ensure first lien position with final title policy or final title opinion
• Obtain assignment of indemnity for Life Insurance/Builder's Insurance/Construction Insurance/Schedule of Crop Insurance and follow up that assignment of indemnity is complete
• Maintain accuracy of collateral tracking system
• Construction loan monitoring, to include disbursement of loan funds at customer's request, for non-consumer loans
• Coordinate with teammates to enhance customer experience and promote additional core products and services

Servicing Role Activities

• Prepare servicing action documents for non-consumer loans for: additional advances, collateral addition, subtraction, easement or subordination by FCSA or 3rd party, or partial real estate release
• Complete entity verification,
• Amend UCC filings for changes
• Perfect lien position as required

Level 15: Accountable for risk associated with unresolved title exceptions and collateral. Understands necessary signers on loan and security documents. Independently handles basic to moderately complex issues.

Level 17: Accountable for risk associated with unresolved title exceptions. Consistently handle even the most complex issues (i.e. facility loans, multiple entity, complicated collateral such as cross-collateralization issues). Work with collateral tracking system calculate benchmark and sustainable real estate values. Consistently handle complex cross collateralization loan entry to reflect the Association’s true collateral position. Work directly with appraisal team and financial officers to resolve issues. Manage the customer experience regarding pricing, process and programs.

Level 18: Accountable for risk associated with unresolved title exceptions. Consistently and independently handle even the most complex issues (i.e. facility loans, multiple entity, complicated collateral such as cross-collateralization issues). Work with financial officers for collateral value scenarios. Participate in credit review; help lead peer review process. Serve as a resource for other teammates for development and enhancing customer experience. Work directly with Retail Commercial Lending and Leasing for loan and lease processing. Consistently and proactively understands holistic impact to customers with pricing processes and programs to elevate customer experience.

• Customer Service: Establish, develop, and maintain strong customer relationships by providing a consistent quality level of service that is timely, thorough, and responsive to the needs of the customer. This includes face-to-face interactions, telephone communications, written correspondence, and electronic communication. Take ownership of the issue until resolved to the customer's satisfaction, which may include involving other team members. Responsible for assisting in the identification of future customer needs. Seek cross-selling opportunities. Provide back-up for Closing Specialists in other retail locations to accomplish workload in a timely manner to meet customer expectations. Provide back up to the Customer Service Specialist (CSS) position, including but not limited to answering phones, assisting with walk-in traffic, and handling loan accounting.

Level 15: Understand core products and identify opportunities for cross-selling. Work with customers and third parties to independently close loans while meeting customer expectations Independently determines magnitude of issues and directly contact legal, credit and retail lending solutions teams as needed. Articulate the problem and identify core issues to be addressed to coordinate the resolution based on outcomes of the discussion with legal, credit, and/or retail lending solutions teams.

Level 17: Consistently identifies opportunities for cross-selling core products. Proactively and independently determines magnitude of issues and directly contact legal, credit and retail lending solutions teams as needed. Articulate the problem and identify core issues to be addressed to coordinate the resolution based on outcomes of the discussion with legal, credit, and/or retail lending solutions teams. Serves as a resource for teammates to resolve questions around credit administration.

Level 18: Consistently identifies opportunities for cross-selling core products. Proactively and independently determines magnitude of issues and directly contact legal, credit and retail lending solutions teams to achieve viable solutions. Articulate the problem and identify core issues to be addressed to coordinate the resolution based on outcomes of the discussion with legal, credit, and/or retail lending solutions teams. Serves as a resource to teammates for credit administration, legal questions, and customer solutions. Proactively works with teammates to achieve the best customer solution possible. Early adopter of technology advances to provide seamless customer experiences and proactive communication with third parties involved in loan administration.

Additional Functions:

• Serve as a team Champion as these opportunities arise. A Champion is a person who voluntarily takes extraordinary interest in the adoption, implementation, and success of a cause, policy program, project, or product. Champions act as a point person and disseminate information, act as a resource, and advocate for the team
• Provide support to company initiatives and cross-functional workgroups as needed
• May mentor other Closing Specialists informally or be a formal part of the onboarding process for new teammates
• Perform other related duties or special projects as assigned

Level 15: Consistently contributes to implementation of company initiatives and changes. Display willingness to participate in regional workgroups. Demonstrates willingness to quickly adapt to company initiatives.

Level 17: Consistently contributes to implementation of company initiatives and changes. Display willingness to participate in cross-functional workgroups. Clearly demonstrates leadership among Closing Specialists peers and other team members by encouraging others to quickly adapt to company initiatives. Consistently mentor, train and/or coach Closing Specialists or other team members. Demonstrate willingness to serve as an official representative in new employee training programs, learning communities, and other activities that promote the success of other Closing Specialists.

Level 18: Leads the way in adoption of new company initiatives and helps facilitate training of peers or development of training materials. Consistently mentor, train and/or coach Closing Specialists or other team members. Demonstrate willingness to serve as an official representative in new employee training programs, learning communities, and other activities that promote the success of other Closing Specialists. Actively involved in workgroups to enhance association initiatives.

JOB SPECIFICATIONS:

Level 15: High school education or equivalent required. Ideal candidate will have a minimum of three to five years related experience. Two- or four-year college degree or specialized training preferred. Must possess or have ability to earn within the first six to 12 months the Loan Closing and Finalizing Certification as provided by the internal Retail Lending Solutions and Legal teams. Recertification required every 5 years.

Level 17: High school education or equivalent required: Ideal candidate will have four to seven years related experience. Four-year degree and/or specialized training preferred. Must possess Loan Closing Certification as provided by internal legal team or have the ability to earn within the first six to 12 months. Must perform duties as outlined for Level 15 above and meet majority of those items outlined as Level 17. Demonstrate specialized job knowledge in addition to exemplary team skills and mentor role within peer group.

Level 18: High school education or equivalent required: Ideal candidate will have seven or more years related experience. Four-year degree and/or specialized training preferred. Must possess Loan Closing Certification as provided by internal legal team or have the ability to earn within the first six to 12 months. Must perform duties as outlined for Level 15 & 17 above and meet majority of those items outlined as Level 18. Works independently demonstrating specialized job knowledge n addition to exemplary team skills and mentor role within peer group.

Duties required for all levels:

• A broad working knowledge of Farm Credit Services of America processes.
• Fundamental understanding and working knowledge of credit extension and administration processes.
• Thorough understanding of UCC Law.
• Thorough understanding of Real Estate Law.
• Proficiency in reviewing title work, surveys, collateral, lien filings, and appraisals.
• Understanding of legal documents and research methods.
• Fundamental knowledge of FCSAmerica loan products, digital tools, and services including insurance and Magnify products.
• Ability to work independently with minimal supervision and direction.
• Basic knowledge of financial principles and their application to credit delivery.
• Ability to appropriately handle highly confidential materials.
• Very high level of accuracy and attention to detail.
• Strong human relations, written and oral skills.
• Effective conflict resolution skills.
• Ability to initiate, organize and prioritize work.
• Knowledge of Association credit policies, procedures, standards and guidelines required.
• Ability to use loan origination system, loan accounting system, computer systems and software applications.
• Ability to work effectively in a team environment and effectively demonstrate team building attitude and skills.
• Proficient in Windows environment using Microsoft Word, Excel, Internet Explorer, and Outlook

MENTAL AND PHYSICAL REQUIREMENTS:

Work Environment: This job operates in a professional office environment. The person in this role routinely uses standard office equipment such as computers, phones, copiers and printers, and requires knowledge of or the ability to learn computer operating systems (i.e., Microsoft Office Suite, etc.) and other software.

Physical Demands: This is largely a sedentary role; however, the person in this role must have the ability to move around the office. This role must be able to effectively communicate with teammates and or customers.

Requirements of the job include the ability to do the work, with or without reasonable accommodations. It is the Associations’ policy to make reasonable accommodations for individuals with disabilities. Leadership retains the right to add, subtract or change duties of the position at any time.

This document does not create an employment contract, implied or otherwise, other than "at will" employment relationship.

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender, age, marital status, national origin, disability status, protected veteran status, sexual orientation or gender identity or any other characteristic protected by law.