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FM
First Midwest Bank
Commercial Closing Specialist
Career Insights for Loan Documentation Specialist
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Based on Illinois data
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What they do
A Loan Documentation Specialist reviews applications for loans and assists with the process of evaluating loans. Prepares, organizes and verifies the documents and reports required for a loan application. Monitors the loan application and approval process and may assist customers with loan payments. May specialize in mortgage, business or other types of loans.
$44,779 / year median in Illinois
-12% projected decline
Job Description
at First Midwest Bank in Sycamore, Illinois, United States Job Description Commercial Closing Specialist Job Locations US-IL-Sycamore Category/Function Lending/Commercial/Consumer/Credit Position Type Regular Full-Time Requisition
Rate Modifications & Due Date Changes)
ID 2026-20044
Workplace Type On Site Overview Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving. We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values. Responsibilities The Commercial Closing Specialistposition works with theRelationship Managers (RM)in the Commercial and Business Banking segmentsto provide sales support and coordinate all new money and renewal requests. This rolemustbe proficient inthe commercial online application system(CML), financial informationrequiredfor underwriting, loan structuring guidelines, collateral requirements, due diligenceitemsand banking processes. TheCommercial Closing Specialistprovidesan appropriatereviewof entity documents, appraisals, title insurance, UCC Searches and other required supporting documentation to ensure proper signor authorities and lien position. This rolemustcommunicateeffectively withother members of the Loan Fulfillment team, RMs, Banking Specialists, Credit Underwriters, in-house legalcounsel,and Loan operationsto resolve any issues or questions. This position requiresa high levelof decision-making capabilities and exception processingcapability. Salary Range The salary range for this position is $18.25/hr. - $29.75/hr. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate's relevant skills and professional experience, educational qualifications, and geographic location.Loan Processing:
Reviewsand inputsloan submissions from RMs inCML includingreviewingfinancial information, ownership, loanstructureand complianceneeds; responsible for complete andaccuratedata entry in CML. Communicateswith the RM to gatheradditionalinformation necessary todeemtheapplication ascomplete and ready for underwriting. Completes loan pre-closing tasks including ordering appraisals, environment reports, and title/UCC searches; performs a detailed and thorough review of entity documents, title insurance, UCC searches, flood determinations, and other supporting documentation. Collaborates with RM to ensure allconditionsprecedent to closing required by credit are met. Reviewsexisting loan documents for accuracy and compliance with loanguidelines. Finalizes post-approval in CML. Communicateswith underwriting,Line of BusinessExecutives and Credit Administration to address policy exceptions.Preparation of Loan Documents:
UtilizesLoan Guidelines and commercial proceduresto ensuredocuments are preparedin accordance withapprovaldocument. Utilizesspecial loan software to produceaccurateand complete loan documents. Prepares template documents outside of loan software (i.e.Rate Modifications & Due Date Changes)