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About the Role

This position provides para-professional support to the Closing Department in facilitating the closing process of commercial loans when the Bank is represented by outside counsel. Primary duties include coordinating the retention of outside counsel for transactions and handling of pre-closing loan due diligence monitoring, review of documentation and various tasks to support the movement of loans from approval to closing under the supervision of Associate General Counsel.

Responsibilities

Review of executed term sheets and credit approval documents to prepare transaction letters and confirm compliance by counsel of the Bank's due diligence requirements and checklists for use by borrower's counsel and closing agent.
Review of searches, surveys, metes, and bounds descriptions and entity documents to ensure conformance with the loan approval, conditions and requirements of the bank's term sheets and checklists for closing.
Final review of form loan documentation based on the loan requirements and due diligence results in consultation with outside counsel, relationship lenders and the credit department.
Communicate with loan assistants, post-closing department personnel, loan officers, outside attorneys regarding closing requirements, problems and deficiencies with closing requirements and loan status.
Responsible for follow up to ensure outstanding due diligence items are collected, reviewed and/or completed prior to clearing loans for closing.
Follow up and review of outside counsel closing letters.
Review and approve loan modification agreements, lien release agreements, subordination agreements and various other loan related documents at the discretion of Associate General Counsel.
Work with commercial credit to create outstanding post-closing loan documentation requirements and deadlines, when necessary.
Review and approve post-closing submissions.
Prepare status reports for new loans and modification files as required.
Open, maintain and update all electronic loan files as required by the legal department.
Handle incoming general calls to the closing department as necessary.

Requirements

Banking documentation and due diligence requirements skills and strong working knowledge and understanding of terms and concepts in specialized areas, including real estate, mortgage, commercial law, estates and trusts and legal transactions.
Exceptional drafting and proof-reading skills.
Proficiency with MS Word and general knowledge of Excel.
Must be extremely detail oriented with excellent written, verbal, and interpersonal skills.
Well organized and efficient, and able to prioritize, multi-task and meet multiple deadlines.
Ability to multitask, work independently, give direction, and handle a fast-paced work environment.
Office environment.
Ability to operate computer.
Ability to communicate in order to exchange simple to complex information with individuals and groups.
Ability to travel throughout Bank footprint.

Skills

MS Word
Excel

Location

On-site

Work Type

Hybrid schedule after initial onboarding has been completed

Experience Level

Minimum of five years of commercial lending and real estate transaction closing experience

Education Level

Associate Degree or paralegal certificate preferred

Salary/Compensations

$77,600.00 - $100,000.00

Benefits

On-site fitness facility at Red Bank and Toms River headquarter offices
Hybrid schedule after initial onboarding has been completed
Employee perks & discount programs
Tuition assistance
Incentive compensation program
Professional development opportunities

About the Company

At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values.
Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.
Apply today to #BecomeOceanFirst and make an impact in the local community!