Loan Closer/Processor at Evangelical Lutheran Church in America

Chicago, Illinois, United States -

Full Time

Start Date

Immediate

Expiry Date

21 Jun, 26

Salary

58080.0

Posted On

24 Mar, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Loan Closing, Loan Processing, Due Diligence, Compliance, Loan Policy, Document Preparation, Reviewing Documents, Customer Service, Communication, Organization, Teamwork, Microsoft Office, Word, Excel, Teams, Outlook

Industry

Religious Institutions

Description

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, non-exempt (hourly), 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. Excellent verbal and written communications skills. 5. Must possess numeric and verbal aptitudes. 6. Appreciation for the mission, vision, values and goals of the ELCA and the Mission Investment Fund of the ELCA. 7. Commitment to diversity, equity, inclusion, and accessibility. 8. Ability to work well both independently and collaboratively. 9. Minimum Technical Competency: Computer knowledge that enables you to operate a Windows Computer and follow basic troubleshooting instructions. Software skills to efficiently use computer programs and applications. Ability to leverage computer knowledge and software skills to understand new software, follow process, and identify opportunities for improvement. Advanced experience using Microsoft Office applications (Word, Excel, Teams, Outlook, etc.) required. Knowledge of Wordpress, advocacy database systems, graphic design platforms and Zoom Webinar a plus. 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.

Responsibilities

The Loan Closer/Processor guides ministries through the loan closing process by coaching borrowers and performing timely, accurate due diligence to ensure successful closings in compliance with policy. Key duties involve ordering/preparing loan documents, serving as a point of contact for various parties, reviewing collateral documentation, and ensuring all closing requirements are met before funding.