Processes and funds bank approved SBA 7(a), USDA, 504 and other government guaranteed loans as assigned by the SBA Closing Director. Works with borrowers, production staff and third parties to ensure timely and accurate loan closings. Collects and reviews documentation, performs borrower, entity, and loan related searches, perfects loan collateral, and ensures proper documentation of loans as specified and approved by the Bank and the requirements that fall within the Standard Operating Procedures of the Small Business Administration and other Government Guaranteed Loan Programs.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Identify and collect documentation in support of and as specified within the banks loan approval.
Prepare and deliver within 48 hours of loan assignment, a detailed Needs List to the loan applicant(s)
Order Flood certifications, IRS Verifications, Site Visit reports CAVIRs, OFACS, UCC Searches and other reports as required.
Review insurance documents to ensure proper type and coverage for each transaction.
Verify and determine the amount and source of borrower injection funds.
Review Purchase and Sale Agreements, Real Estate documents, entity documents of potential borrowers and related entities to ensure compliance with bank and SBA requirements.
Responsible obtaining the appropriate approvals from the SBA and/or USDA for each loan transaction as required.
Prepare lenders instructions and coordinate loan closings with escrow and title companies.
Perform loan related searches on individuals, entities, and collateral.
Plan tasks and workflows to meet closing deadlines.
Responsible for accurate ordering and generation of Laser Pro and SBA documents.
Coordinate closings between borrowers, Bank Associates, Certified Development Companies, and escrow/title companies as necessary.
Facilitate loan funding and the subsequent follow up for all post-closing documentation items.
Responsible for setting up tickler items within the Loan Management system.
Demonstrates compliance with all bank policies and stay up to date on SBA and Banking regulation changes for assigned job function.
Maintain a working knowledge of the Bank's written policies and procedures regarding the Bank Secrecy Act, Regulation CC, Regulation E, Bank Security and other regulations as applicable to this job description.
Actively learns, demonstrates, and fosters the Umpqua Bank corporate culture in all actions and words.
Takes personal initiative and is a positive example for others to emulate.
Embraces our vision to become "The World's Greatest Bank."
Perform other duties as assigned.
SUPERVISORY RESPONSIBILITIES None
REQUIRED KNOWLEDGE, SKILLS AND ABILITIES
High school diploma/GED required.
3-5 years of SBA closing experience and knowledge of SBA loan program requirements or equivalent work experience.
Basic knowledge of SBA, Standard Operating Procedures, and USDA requirements.
Ability to comply with bank policy and procedures.
Experience working with SBA production staff and underwriters.
Ability to actively manage 3-5 loan files on an on-going basis, with adherence to bank established Closing Service Level Agreements.
Demonstrate a high level of organization, attention to detail, accuracy, and thoroughness, with the ability to multi-task.
Knowledge of personal computer and related software packages, including but not limited to, MS Office Word, Excel, and Outlook, and other business machines standard in the industry.
Ability to work under pressure and organize own work with guidance from Supervisor.
PHYSICAL AND ENVIRONMENTAL DEMANDS
Office environment – no specific or unusual physical or environmental demands.
May include limited travel.
Disclaimer: The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of associates assigned to this job.
Additional Salary Information: Non Exempt Hourly Position
About SBA Closing Specialist (UMPQUA BANK)
Umpqua Bank is an Oregon-based community bank recognized for its entrepreneurial approach, innovative use of technology, and distinctive banking solutions. Umpqua Bank has locations across California, Idaho, Washington, Oregon, and Nevada. Umpqua Bank has a very dynamic and active Small Business Administration (SBA) loan center located in La Mesa (San Diego), California. Business Development Officers and staff Associates are located in each of the states noted above and collectively contribute to the overall success of the bank.
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