Job Summary
We are looking for a highly skilled and experienced Commercial Loan Processor to join our team. In this role, you will be responsible for processing loans from application to closing, including the preparation of moderate to complex loan documents using Laserpro with limited supervision. This role involves processing and preparing loan documents across various loan types such as Commercial Real Estate, Construction, and C&I loans. This position demands independence and proficiency as there are no separate Appraisal, Title, Legal, or Insurance Department; you will be responsible for these aspects in addition to your regular duties.
Essential Job Duties:
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Provide support to Relationship Manager and Underwriting teams by ensuring the timely and accurate processing, documentation and closing of new loans, renewals, and modifications.
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Maintain loan pipeline for assigned loans, tracking applications received, completed applications, and all correspondence in compliance with regulation B application tracking requirements.
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Prepare Welcome Letters and Needs Lists with a detailed list of financials and documents necessary to process and underwrite loan requests. Track all items received, pending, and notify Relationship Manager of missing items.
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Prepare loan documents using LaserPro in accordance with Bank Policy and according to the terms of the approved credit
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Propose draft legal language on non-standard provisions
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Recognize and discuss loan transactions with management to resolve any outstanding issues prior to loan documentation and closing
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Review existing loan documents to ensure proper language on renewal and modification documents
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Perform Quality Control 2nd review for documents prepared by other loan processors
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Review and reconcile all documentation and financials received for accuracy and lender compliance.
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Order, review, interpret and track all third-party reports such as credit reports, business reports, flood determinations, appraisals, and environmental reports.
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Review and interpret entity formation documents to ensure loan documents are properly prepared and authorized. Draft written reviews identifying discrepancies and missing documents.
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Order and review preliminary title reports to ensure the bank's desired lien position on title and identify endorsements required to secure the bank's collateral. Provide a detailed list of items required to clear title exceptions to the assigned Relationship Manager and follow up with the title company to resolve title exceptions.
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Order payoff demands and any other items required to clear title exceptions.
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Work closely with Escrow and Title companies, reconciling settlement statements, preparing Lender’s Title and Escrow Instructions, and coordinating closings with minimal supervision.
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Request and review evidence of insurance on subject collateral ensuring coverage meets the bank's minimum requirements.
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Prepare flood worksheets, disclosures, and review flood policies when applicable.
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Prepare funding wires and boarding packages for the Loan Service Department.
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Perform post-closing title policy reviews and follow up for perfected title policies.
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Maintain ticklers for outstanding title policies and deeds of trust in a timely manner.
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Perform clerical functions within the department as needed and provide support to the department as necessary.
Requirements:
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High School Diploma or equivalent.
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Minimum 5 years of recent experience in Commercial Loan Processing, from loan application to closing.
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Minimum 2 years of recent experience drafting Commercial Loan documents using Laserpro Software.
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Extensive knowledge of all aspects of loan processing, documentation, and closing for commercial real estate and construction loans, including loan provisions/terms, various collateral sources, and compliance.
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Highly skilled and knowledgeable in analyzing entity formation documents, preparing signature blocks, and drafting written correspondence to address discrepancies and requirements.
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Extensive knowledge and experience in reviewing and interpreting Title Reports, with the ability to identify required endorsements and necessary steps to remove title exceptions.
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Possess a foundational understanding of financials, including the ability to differentiate between a Financial Statement, Rent Roll, and Schedule of Real Estate.
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Excellent analytical, communication, and decision-making skills.
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Strong knowledge of all lending regulations related to Commercial Real Estate Lending.
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Ability to manage multiple tasks and deadlines efficiently, demonstrating strong organizational and time management skills.
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Ability to cope with pressure from meeting required deadlines and other responsibilities.
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Ability to work collaboratively with team members to ensure efficient workflow and high levels of cooperation.
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High responsiveness to the bank’s needs and adaptability to changing requirements.
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Proficient in Microsoft Excel, Microsoft Word, Outlook and other office support systems and programs.
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Proficient in English writing and speaking.
Additional Information:
Annual Salary range: Min $75,000 to Max $85,000