Commercial Loan Processor
Summary: Under general guidance, supports the loan process and enhances banking relationships with loan customers by coordinating the documentation process, preparing loan documentation, processing transactions, resolving problems, and promoting sales. This position works closely with lenders and Loan Operations to ensure fulfillment of the department goals and objectives and in doing so furthers Prospect Bank’s commitment to provide excellence in customer service.
Essential Duties and Responsibilities:
• Coordinates the loan documentation process by working with lenders and other parties, including appraisers, title companies, attorneys, Realtors, insurance representatives, and recorders’ offices to ensure that all necessary and appropriate loan documents are prepared within proper loan authority limits, in accordance with loan approval terms and conditions, within Loan Policy requirements, and in an accurate and timely manner.
• Initiates requests for and reviews entity papers, good standing certificates, legal name verifications, UCC searches, flood certifications, and title work.
• Establish records to track for and follow-up on
– Pending items (i.e. recorded mortgages, filed UCCs, final title policies, and acknowledged collateral assignments)
– Ticklers (i.e. UCC continuations, evidence of insurance, mortgage releases, financial statements, insurance binders, and loan covenants)
– Documentation exceptions, including incomplete, erroneous, or missing documents
• Utilizes various software programs to prepare new and renewed loan packages, reviewing them for correctness, completeness and adherence to policy.
• Scan all new loan documents to Director and all follow-up documents or supporting information
• Provides general customer and lender assistance including resolving documentation and operational problems, clearing exceptions, and handling customer overdrafts.
• Performs loan closings and disburses loan proceeds with or in the absence of the loan officer in a manner which provides prompt and convenient service and adherence to bank policy and procedures. Review executed loan documents for completeness and required signatures.
• Establishes and maintains loan files, verifying that information is complete and filed in accordance with department standards.
• Prepares and sends correspondence regarding financial reporting requirements and insurance requests.
• Perform paid loan processing and coordinating the release of collateral of closing out of loan files.
• Perform additional duties as assigned by supervisor.
Supervisory Responsibilities: No supervisory responsibilities
Qualifications: Associates degree or equivalent work experience, with a minimum of one to three years of progressively responsible banking experience, including loan documentation training and/or customer service experience.