Commercial Loan Administrator

Veritas Partners; Harmonville (PA); On-site; USD 60,000 - 85,000; Full time

Job summary

Veritas Partners in Harmonville, PA seeks a Real Estate Finance Loan Processor to set up commercial real estate and construction loans, coordinating funding and data accuracy.

Requires a Bachelor’s in accounting/finance or comparable experience, strong transaction data entry skills, and proficiency with general ledger systems. You will manage disbursement files, LC tracking, and maintain loan data across systems for client service.

Qualifications

• Bachelors degree in accounting/finance or related field is required or comparable experience.
• Knowledge of transaction data entry and understanding of debits/credits as well as proofing and balancing accounts.
• Working knowledge of general ledger automated systems.

Responsibilities

• Set up new commercial real estate and construction loans and ensure proper loan numbers.
• Prepare new loan set-up data sheets and review construction loan information to ensure accuracy.
• Assure pre-closing ongoing draw disbursement funds are reserved and coordinate funding at closing and for draws.
• Set up construction loan disbursement files and borrower portfolio files.
• Ensure Letters of Credit are accounted for and track releases.
• Prepare and present disbursement documentation and monitor disbursement reports.
• Review monthly interest billing statements and monitor interest reserves for accuracy.
• Maintain system data integrity for escrow accounts and loan information.

Skills

Transaction data entry

General ledger systems

Education

Bachelor's degree in accounting, finance, or related field

Comparable experience in accounting/finance

Job description

• Works with Operations Unit Manager, Real Estate Finance Risk Manager, Real Estate Finance Processor and Relationship Manager to set up new commercial real estate, construction loans and request new loan numbers.


• For more complex construction loans, prepare new loan set-up data sheets and review new construction loan information in the Pipeline section of the construction loan system. Sets up loan budget; reviews data input for accuracy and assures that new loan set up line-item budgets are in accordance with approval. Understands and implements required primary and subaccount data entry input. Reviews essential documentation ensuring that original executed Note is received prior to funding.


• For all Real Estate Finance construction loans, assured pre-closing on-going draw disbursement funds are reserved with Finance Department Funds Manager and coordinates actual funding with Loan Operations Accountant at closing and for all subsequent draws.


• Set up construction loan disbursement files; set up new borrower portfolio files or assure new loan information is included in existing portfolio files.


• Ensures all Letters of Credit are properly accounted for on the Construction Loan System Budget. Track the respective Township Release(s) for each Letter of Credit.


• Prepares and presents disbursement documentation from the system, monitors and balances disbursement report. Works with Operations Unit Manager and Real Estate Finance Reporting and Risk Management Unit Manager to assure accurate set up and administration of all loan Syndications/Participations – In or Out.


• Track escrow account information, ensuring complete accuracy of account information. Maintains the integrity of the system data.


• Reviews monthly interest billing statements for accuracy. Monitors’ interest reserve adequacy on all accounts; assures accurate billing if interest reserves are exhausted.


• Alerts management to process and procedural changes concerning the daily, monthly and continuing responsibilities associated with managing and controlling construction loan information interfaced with bank wide Accounting and Finance systems for the construction loan system used by the Loan Operations Accountant, lending staff and this position. Works with and coordinates specific job activities with the Real Estate Finance Construction Loan Processor to assure adequate backup. Provides excellent customer service to clients. Responds to general inquiries on loan status.

construction loan servicing or a commercial banking position

REQUIREMENTS:

• Bachelor’s Degree in accounting, finance, or related field; OR comparable experience in

• Knowledge of transaction data entry and understanding of debits/credits as well as proofing and balancing accounts.


• Working knowledge of general ledger automated systems.