Loan Processor II

Overview

The Loan Processor processes and closes different types of business, consumer loans, commercial loans, and or including real-estate secured loans.

Responsible for ensuring all loan requirements are in place as required by the loan approval and the bank's loan policies and procedures, including collateral, legal, compliance and financial requirements.

Principal Duties & Responsibilities :

Reviews approved credit approvals upon receipt from the Underwriter and undertakes to obtain all requirements necessary to close the loan pursuant to the loan approval and the applicable loan closing checklist.

These items include, but are not limited to, commitment letters, appraisals, inspection reports, legal and collateral documentation, title information, compliance documentation, insurances and payoffs.

Transmits complete loan packages to either outside counsel or in-house loan documentation staff for preparation of loan documents.

Assists as necessary throughout the closing process with any additional closing requirements, keeping all parties informed and acts as liaison to get appropriate decision-makers involved to resolve problems.

If loan is documented by outside counsel, reviews draft loan documents prior to closing, determines that the closing statement reflects the appropriate use of loan funds and that the appropriate bank fees, escrows, costs, etc.

are collected at closing. Determines that all non-legal conditions for closing have been satisfied. Coordinates with counsel to close and fund the loan, and follows up on all post-closing matters.

• Prepares all bank forms required for the closing and performs all tasks required to comply with bank’s loan policies and procedures, particularly with respect to compliance and credit matters.
• Ensures loans are properly booked, all required waivers are in place, and the loan proceeds are properly disbursed.
• Organizes the file and bar-codes loan and credit documents, as necessary.
• Follows up to obtain all outstanding documentation items, including recorded documents when the closings are performed by outside or in-house legal counsel.
• Responsible for complying with all ACH rules and understanding the NACHA rules applicable to all transactions.
• Performs the administrative end of loan relationship, including but not limited to, handling inquires from Relationship Managers and managing compliance related requirements with respect to flood regulations.
• Stays abreast of loan compliance related issues and distributes as required information to department.
• Acts as liaison with other departments to resolve operational issues.
• Assists with training / instruction of compliance and closing procedures within the department as necessary.
• Maintains such reports as may be required.
• Processes revolving line of credit advances and pay downs based on pre-approved loan documentation and / or advance request and corresponding general ledger account entries related to loan closings.
• Prepares Loan Input Sheets, performs quality control of approval instruments, and all other required documentation necessary for proper loan booking.
• May maintain credit files related to a loan closing according to the banks credit standards.

Qualifications

• 2-4 years of commercial and consumer loan processing and customer service experience.
• Extensive knowledge of consumer loans, commercial and mortgage loan structures and documents. Knowledge of loan accounting issues.
• Knowledge of loan accounting issues.
• Must have the ability to accept instruction, prioritize and follow through on work assignments with minimal supervision.
• Excellent computer skills using Microsoft office applications (Outlook, Excel & MS Word).
• High level of accuracy and attention to detail being aware to verify and double check work.
• Must possess excellent organizational and time management skills with ability to handle multiple tasks under tight timeframes.
• Ability to work independently with minimum of supervision and to be a team player with a positive outlook.

Education

• High School Diploma or GED equivalent
30+ days ago