Loan Closer-CDF

This position supports Community Development Finance (CDF) loan closing by performing a variety of operational, loan processing, loan closing and quality control functions. These functions are community development affordable housing/real estate loan and subsidy related. The Loan Closer will build relationships with and acts as a resource to internal and external partners.

• Monitors receipt of all required loan closing due diligence items and track deal status. Reviews third party reports, formation documents, due diligence documents and satisfies all pre-close conditions in advance of loan funding. Responsible for monitoring loan deposits and fees due at loan closing. Prepares construction loan budget inclusive of all construction sources and uses. Reviews and reconciles closing draw and funding source(s). Coordinates with title/escrow company and Bank's legal counsel to ensure timely and accurate funding. Ensures processing of all closing related invoices for payment and reconciles against fee/costing sheet and escrow closing statements.
• Sets up and maintains all credit and loan files, including ongoing approvals, due diligence, third party reports, loan documents, entity formation documents and other documents as needed. Makes certain files are accessible, easily navigable and maintained consistently to ensure ease of audit.
• Reviews legal documentation, including construction loan agreements, promissory notes, deeds of trust and all other ancillary loan documents prepared by external legal counsel. Coordinates and partners with external counsel to ensure legal documents reflect the approved terms of each transaction and the requirements of each geographic location. Coordinates receipt of all applicable executed documents with counsel upon loan closing.
• Reviews and approves all applicable related party insurance certificates. Reviews and approves of all general contractor's payment and performance bonds, with dual obligee rider. Collects deal party formation documentation, organizational charts and applicable entity documents for KYC submission and approval.

Bachelor's Degree and 3 years of experience in Real Estate Lending, Banking, Loan Closing/Servicing/Processing and/or Financial Services OR High School Diploma or GED and 7 years of experience in Real Estate Lending, Banking, Loan Closing/Servicing/Processing and/or Financial Services

Preferred Education: Bachelor*s DegreePreferred Area of Experience: Affordable Housing, Legal Doc ReviewLicense or Certification Type: null nullSkill(s): Knowledge of all facets of Community Development Finance (CDF) to include closing and servicing.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.