Loan Specialist

Loan Specialist

Location : Rosemead, CA, USA

All potential applicants are encouraged to scroll through and read the complete job description before applying.

Req # : 1981

Date : Tuesday, January 9, 2024

People Drive Our Success

Are you enthusiastic, highly motivated, and have a strong work ethic? If yes, come join our team! At Cathay Bank, we strive to provide a caring culture that supports your aspirations and success.

We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals.

We have thrived for 60 years and persevered through many economic cycles due to our team members' drive and optimism. Together we can make a difference in the financial future of our communities.

Apply today!

GENERAL SUMMARY

The Documentation, Closing & Funding Department is responsible for preparing commercial loan documentation in LaserPro or reviewing attorney-prepared loan documents, drafting Lender's Instructions, and coordinating loan closing ensuring that all the loan documents are properly executed, and all loan terms / conditions are fulfilled and collateral perfection within allowed timeframe.

ESSENTIAL FUNCTIONS

• Review and document all standard Commercial Loans (i.e. CRE loan, C&I simple, Working Capital loan).
• Validate the receipt of the loan and borrower supporting documentation and that the request is in compliance with conditions appearing in loan approval, Bank's policies, procedures and Federal, State and other regulatory requirements.
• Communicate and resolve any supporting documentation issues or questions / clarifications on the conditions / wording appearing in loan approval with Lending Unit and / or Cathay legal counsel.
• Create LaserPro documentation based upon loan approval and in compliance with loan committee approval conditions and Bank's policies, procedures, and Federal, State, and other regulatory requirements.
• If applicable, create escrow closing instruction and pre-closing conditions and any other conditions required for Lender / Borrower information.
• Receive signed loan documents and perform closing and funding activities including ensuring all loan documents are properly executed by authorized signer and reviewed / signed by Account Officer.

Process wire request, remit funds to pay off other lender, obtain Deed of Trust recording confirmation, order tax contracts, UCC filing, set up and maintain tickler and monitoring databases (such as Stucky and Trade Innovation, etc.)

• Respond to internal and external inquiries in a timely and satisfactory manner (i.e. Lending Units, Loan Servicing and legal counsel).
• Track trailing documents (such as recorded Deed of Trust and Title policy, etc.)
• Accept assigned tasks or duties as deemed appropriate by their supervisor.

QUALIFICATIONS

• Education : College graduate with major in accounting or business preferred.
• Experience : 2+ years preparing commercial loan documents and closing / funding commercial loans or experience with commercial lending.
• Skills / Ability : Generating loan documents using LaserPro is a plus. PC Proficient. Strong verbal and written communication skills.

Organized and detail-oriented.

OTHER DETAILS

Pay : $21.63 - $28.85 / hour

Pay determined based on job-related knowledge, skills, experience, and location.

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation.

It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We believe in diversity, equity, and inclusion in the workplace.

We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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