Commercial Loan Closer

Ontario Trillium Foundation; West Columbia (SC); On-site; USD 45,000 - 65,000; Full time

Job summary

Ontario Trillium Foundation in West Columbia, SC is seeking a Loan Documentation Specialist to prepare loan packages from worksheets and commitment letters, order and review title work, verify insurance coverage, and coordinate with closing attorneys for timely delivery of loan packages.

The role involves reviewing appraisals, staying compliant with USPAP and lending policies, and supporting bankers and paralenders to ensure a smooth loan process.

Qualifications

• Experience reviewing title work and appraisals
• Understanding of loan-to-value and lending policies
• Ability to coordinate with attorneys and bankers

Responsibilities

• Order, review and approve title work for real estate loans and notify bankers of issues
• Review and approve all outside appraisal requests and stay abreast of USPAP requirements
• Prepare system-generated loan documents from worksheets and closing information
• Coordinate with closing attorneys to ensure timely delivery of loan packages
• Maintain liaison with bankers and paralenders to smooth the loan process and resolve documentation timing issues
• Stay updated on regulatory and compliance issues impacting credit decisions and loan documentation

Skills

Regulatory compliance

USPAP knowledge

Loan documentation

Job description

Position Summary

Responsible for preparing loan packages based on receipt of loan worksheets and commitment letters from commercial bankers and retail bankers. Preparation includes accurately completing loan documentation, ordering and reviewing title work, verifying insurance coverage, ordering and/or completing additional external documents (e.g., flood, appraisal, Census Tract, Secretary of State, etc). Also coordinates with loan closing attorneys to ensure timely delivery of loan package.

Essential Duties and Responsibilities

(Other duties may be assigned.)

• Order, review and approve title work for real estate loans and notify commercial banker or retail banker of any problems and issues related to title exceptions, property liens and encroachments, judgments, rollback and unpaid taxes, etc.
• Order, review and approve all outside appraisal requests received from commercial bankers, retail bankers, and branch paralenders. Stay abreast of regulatory and compliance issues that impact appraisal process, specifically Uniform Standards Professional Appraisal Practice (USPAP).
• Review and approve all in-house evaluations.
• Demonstrate proficiency in analyzing and interpreting loan requests and documents of varying degrees of complexity. Consumer and commercial loan requests include real estate and/or other collateral, collateral substitutions, new loans, loan modifications, and renewals with increases.
• Interpret and apply Bank policies such as loan-to-value ratio, appraisal criteria, etc to loans.
• Exhibit a working knowledge of general lending policies and practices.
• Prepare system-generated loan documents accurately based on information supplied by commercial bankers (e.g. loan worksheet, commitment letter, loan report, etc.) and, with regard to real estate loans, information received from closing attorneys, tax assessors, etc..
• Identify insurance policies accurately (e.g., hazard, collision, builders risk, workers comp, general liability, flood, etc.) and review policies to confirm adequate coverage for loan.
• Prepare and send wires and various Bank tickets to accompany loan packages to attorneys.
• Complete Documentation Checklist indicating received items and items that are pending, missing, incomplete and/or questionable. Includes reviewing and verifying executed loan documents received from closing attorneys.
• Liaison with closing attorneys to deliver total loan package to be used at loan closing.
• Partner with commercial bankers, retail bankers and banking office paralenders to ensure that loan process is smooth and to resolve documentation and timing issues as necessary.
• Maintain customer service focus on internal and external customers to encourage positive business relationships.
• Stay abreast of regulatory and compliance issues that impact credit decisions and loan documentation including Fair Lending, HMDA, Credit Life, and Wolters Kluwer Financial Services resources. Follow bank policies and procedures, security guidelines, and comply with all federal, state and local regulations.
• Demonstrate working knowledge of all Bank loan products and services.