Loan Closer/Processor

Description

About The Elca

The ELCA is one of the largest Christian denominations in the United States, with 3 million members in more than 8,700 worshipping communities across the 50 states and in the Caribbean region (Puerto Rico and the U.S. Virgin Islands). With a vision to live in a world experiencing the difference God’s grace and love in Christ makes for all people and creation, the ELCA strives to be a welcoming, thriving, and connected church that introduces people to Jesus so they can discover community, justice, and love.

The Lutheran Center (national office) is located in Chicago, Illinois. A staff of 400, under the leadership of the Presiding Bishop, serve as administrators, advisors, conveners, partners, and resource people for the ELCA and its ministries. Staff lead the work of national, domestic, and global ministries and programs including Lutheran Disaster Response, ELCA World Hunger, Service & Justice, Christian Community and Leadership, and Innovation. We are also home to five of our separately incorporated ministries: The Mission Investment Fund of the ELCA, Women of the ELCA, Lutheran Men in Mission, the ELCA Foundation and the ELCA Federal Credit Union.

About the Mission Investment Fund

The Mission Investment Fund (MIF), a financial ministry of the Evangelical Lutheran Church in America (ELCA), supports the establishment and growth of   congregations and other church-affiliated ministries by providing financing   for building projects. MIF also offers socially responsible investment   products to both individuals and ministries, the proceeds of which fund the   loan program and provide investors with financial returns.

The ELCA Federal Credit Union, a financial ministry partner of the Mission Investment Fund,

offers   financial products and services to members, pastors, congregations, synods, affiliated ministries, and their employees. The portfolio of products   includes low-cost loans, deposit accounts, credit cards, and other solutions   within a not-for-profit, cooperative structure.

Organizational   Values

MIF's   values are rooted in Christian faith, Lutheran traditions, and our identity   as a ministry of the ELCA: Integrity, Customer Focus, Inclusion and Diversity, Faithful Stewardship, Courage and Openness to Change. 

About The Position

The Loan Closer/Processor guides congregations and other ELCA ministries through the process of closing, providing coaching for borrowers and timely, accurate due diligence   to facilitate a successful closing while ensuring completion of all duties in   compliance with MIF’s loan policy and procedures.

This is a full-time, regular, exempt (salaried), Chicago-based hybrid position. This position has responsibilities that will require being in the office on a weekly basis. This could mean 2-3 days most weeks and possibly more days when meetings and other events are happening that this position supports.

The eligibility of a candidate for remote or hybrid positions may depend on the residency of the candidate, and the budget for the role, including salary or pay, insurance coverage, and/or tax burden. Candidates for this position must reside within the fifty United States or the District of Columbia and be authorized to work lawfully in the United States. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire.

1. Order or prepare loan documents according to the   credit approval, internal policies and procedures as well as various   regulations upon loan approval. Review loan documents prior to being   executed, review executed documents prior to funding, verify all outstanding   conditions have been met, and fund loans according to deadlines. Verify   completeness of files with all necessary documents and required signatures.
2. Serve as the point of contact for ministries, title   officers, escrow officers and attorneys. Work with lending staff to resolve   discrepancies in collateral documentation. Perform review of commercial loan and collateral documents and loan   packages to ensure MIF’s security interest and adherence to established   policies and procedures.
3. Send documents to ministries for signatures. Work with ministries to ensure all proper   documentation is obtained to complete the loan process. Follow up with   borrowers, attorneys and title companies regarding collection of executed   documents.
4. Review all closing documents to ensure they are   properly executed, recorded and received. Send executed documents to title companies for recording.
5. Prepare modifications/buydown legal documents for   recording and follow-up on returned legal documents before and after   recording. 
6. Follow up with any outstanding conditions and audit   all funded files prior to submitting to the file room. Scan all necessary   information and documents as outlined in the loan department procedures.
7. Serve as a primary point of contact   with borrowers and build lasting relationships. Achieve and maintain general   knowledge of other aspects of MIF which may include providing customer   service and selling MIF products and services as needed. 
8. Perform other duties as required.

Requirements

1. Minimum 3 years of experience in commercial or   residential loan processing
2. Basic knowledge of lending processes and procedures, loan documentation, exceptions, collateral review, payment and loan systems. Knowledge of banking processes.
3. Must have good organizational and customer service   skills. Must be able to work in a team environment.
4. Must possess numeric and verbal aptitudes.

Physical

While performing the duties of this job, the employee is regularly required to talk and hear, use hands and fingers to operate a computer and telephone. This position requires sitting for long periods of time. Reasonable accommodations can be made to enable individuals with disabilities to perform the essential functions. 

Travel

N/A Or Negligible

Benefits

The ELCA offers a competitive benefits package for eligible employees, including employer paid health premiums for employees, health and dependent care FSA’s, a health savings account (HSA) with an employer contribution, life insurance, and a substantial employer contribution to 403b retirement plan (no match required). We also offer a generous paid time-off policy including 11 paid holidays. All benefits commence on your start date.

Contact

If you have questions about this job or your application, please complete this form to contact Human Resources.

Salary

Commensurate with qualifications and relevant experience.