Position Title
Borrower Closing Specialist
Location
New York/1400 Broadway/114025
Job Summary
The Professional Lending Team provides leverage to employees of Private Equity firms and firms with a partnership structure for their equity purchase or fund investment needs. We create a customized loan program with each firm and then work with individual borrowers to extend credit. Our business model is based on capturing as much of the firm and client banking relationship beyond just our product, so providing an exemplary client experience is essential to our success.
The Professional Loan Group (PLG) Borrower Closing Specialist will prepare and process individual loans for booking and funding after credit approval. This person is responsible for managing the borrower portfolio, including handling borrower amendments arising from program-level changes and assisting PLG teams in the ongoing support of borrower-level loans. The ideal candidate understands that an excellent client experience is the core of our business model and will be able to balance multiple programs and deadlines, and communicate effectively and clearly with the PLG teams.
Pay Range: $73,625.00 - $95,713.00 - $117,801.00
Pay Range: Local Minimum Wage - $0.00 - $0.00
Job Responsibilities:
- Maintaining the Professional Loan Group portfolio, ensuring loan files are complete, accurate, and prepared for booking.
- Reviewing and completing pre-closing and closing due diligence for new borrower requests.
- Preparing borrower loan documents to be sent and monitoring for execution.
- Assisting team with booking, initial advances, transfers, wires and payoffs.
- Reviewing and completing due diligence for different types of borrower modifications.
- Monitoring and completing requests from the Borrower Closing inbox.
- Preparing monthly and quarterly reports, as needed.
ADDITIONAL ACCOUNTABILITIES
- Performs special projects, and additional duties and responsibilities as required.
- Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
- Communicate with various teams on new requests and existing loans.
- Analyzes and resolves problems pertaining to Borrower documentation and closing process.
JOB REQUIREMENTS
Required Qualifications:
- Education level required: College, Vocational or Associates Degree (2 years or equivalent).
- Minimum experience required: 3+ Years experience closing and reviewing legal documents ideally in financial services.
- Credit and Underwriting experience preferred.
- Must be comfortable working in a fast-paced environment, balancing multiple deadlines, and communicating across teams.
Preferred Qualifications:
- Education level preferred: Undergraduate Degree (4 years or equivalent) Finance or Business preferred.
- Ideal candidate will have an understanding of private equity fund finance basics, including capital calls, distributions, and fair market value; as well as basic loan mechanics including interest rate calculation, credit types, loan to value ratio, debt to income ratio, advance rate, and amortization.
Job Competencies:
- Ability to work effectively and flexibly in a team environment, assuming individual responsibilities, as well as abilities to adjust priorities quickly.
- Exceptional verbal, written and interpersonal skills, as well as analytical and problem-solving skills.
- Intermediate/advanced in Excel, comfortable using pivot tables, V-lookup, functions, and formulas.
- Comfortable reviewing financial transactions.
- Must be able to review and analyze data reports and manuals; must be computer proficient.
- Must be able to communicate effectively via telephone, email, and in person.
- Advanced familiarity with Word, Excel, Outlook, and Adobe.
- No travel requirements.
- Physical demands (ADA): The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.
What We Do
Thank you for visiting Flagstar Bank on LinkedIn, and we look forward to being part of your financial journey. On December 1, 2022, New York Community Bank (NYCB) and Flagstar Bank joined together to become one company. Today, New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The company is headquartered in Hicksville, New York. At June 30, 2024, the company had assets of $119.1 billion. We operate over 400 branches across 10 states, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and on the West Coast. Flagstar Mortgage operates nationally through a wholesale network of approximately 3,000 third-party mortgage originators. We believe in cultivating a diverse, inclusive, and respectful workplace that engages employees, broadens perspectives, and encourages teamwork. We hire people who represent the talents, experiences, backgrounds, and diversity of the communities we serve. Together our goal is to deliver a new energy in banking to our customers, opening new doors for financial and personal success. Customers will have access to a broad spectrum of technology, products and services—all with a shared customer-first approach. Relationships are at the center of all that we do, enhanced by our commitment to delivering local market expertise, personalized solutions, and a long-standing focus on strengthening our communities. Follow us on LinkedIn to stay up to date on news and updates, new hires, community initiatives, access to our collective insights, and banking industry updates that you need to know.