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The Closing Coordinator – Servicing is responsible for coordinating and overseeing the resolution of both closing and pre-closing issues across various departments such as client relations, legal, underwriting, and servicing. This role involves close collaboration with the Servicing Loan Administration team to ensure precise documentation and recording of loan modifications, closing dates, and amounts. The coordinator plays a critical role in streamlining communication and processes to enhance service delivery and accuracy in loan servicing.
We are committed to growing your career, so in this role you will:
- Update all relevant loan information screens and fields with new borrower details or loan modifications in the McCracken system. Complete necessary forms for loan deposits, apply fees for Special Requests, and ensure all invoices related to the loan are paid. Compile the Year-to-Date Assumption Tracking Report for year-end analysis.
- Engage legal counsel and review all draft loan documents, making necessary amendments. Ensure the accuracy of loan documents, including proper signature blocks, and review title and survey issues to facilitate resolution. Coordinate insurance reviews and resolve any arising issues.
- Research, calculate, and verify escrow information. Confirm that all business terms and legal points from the Application, Credit Memorandum, and Approvals are accurately reflected in the final Loan Documents. Ensure all conditions outlined in the Application, Credit Memorandum, and Approvals are met prior to closing. Work with legal counsel and the title company to ensure the settlement sheet is accurate and documents are properly recorded.
- Compile and forward original documents to the Trustee and for Imaging. Develop a tickler spreadsheet to track significant loan events, assisting Client Relations. Support the Portfolio Manager in gathering information/documentation for assumptions and transfers. Update the Special Requests tracking system and manage other necessary external/internal portals.
- Facilitate the delivery of documents and information with GSEs, Investors, Servicers, and other relevant external parties.
- Handle Special Requests as needed, including Partial Releases, Easements, Condemnations, SNDA’s, and Lease Reviews.
- Other duties as assigned.
We are passionate about your growth, so to achieve success in this role you should have:
- Proven track record in managing loan servicing processes, including closing, post-closing, and handling special requests.
- Skilled in using loan management systems like McCracken or similar platforms to update loan information and track compliance.
- Ability to identify and resolve issues in loan documentation and processing efficiently.
- Capable of effectively collaborating with internal teams, external partners, and legal counsel to ensure smooth loan processing and compliance.
- High school diploma or GED
- 0-3 years of experience in a similar position
Source: Berkadia Career Page
