Commercial Loan Coordinator

East Cambridge Savings Bank; Cambridge (MA); On-site; USD 33,000 - 47,000; Full time

Job summary

East Cambridge Savings Bank is seeking a Commercial Loan Coordinator in Cambridge, MA. The role supports loan processing and documentation for commercial real estate, under supervision of the Senior Commercial Loan Documentation Officer.

You will track applications, assemble loan files, and coordinate closings with attorneys and appraisers. The ideal candidate has 1–3 years of banking experience or a business degree with banking exposure, strong organizational and communication skills, and

Qualifications

• 1–3 years’ banking experience or a bachelor’s degree in Business or related field with 1 year banking experience.
• Detail oriented with strong organizational and verbal communication skills.
• Working knowledge of Microsoft Word and Excel; familiarity with LoanVantage or other loan origination systems preferred.

Responsibilities

• Receives and tracks applications; assists management in processing documentation for Commercial real estate loans.
• Maintains new commercial loan files and assembles/verifies loan documents for proper vesting, descriptions, closing dates and signatures.
• Files UCCs for new loans, modifications and renewals; prepares renewal/termination documents and loan closing documents.
• Ensures loans are processed in accordance with credit approvals and regulatory guidelines; coordinates reporting and due diligence.
• Serves as liaison with attorneys, appraisers, insurers and other parties; supports closings and ensures accurate documentation.

Skills

Banking experience

Attention to detail

Organizational skills

Verbal communication

Multitasking

Education

Bachelor's degree in Business or related field

Tools

Word

Excel

LoanVantage

Job description

Commercial Loan Coordinator

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Cambridge, MA, US

3 days ago Requisition ID: 1338

Salary Range: $23.54 To $32.99 Hourly

Actual compensation for this role is commensurate with experience, skill set, and other qualifications.

East Cambridge Savings Bank’s Lending Division is actively recruiting for a Commercial Loan Coordinator

Function:

Under the general supervision of the Assistant Vice President – Senior Commercial Loan Documentation Officer, performs a variety of administrative tasks in connection with processing commercial loans.

We are looking for candidates with:

• 1-3 years’ working in a banking environment or a bachelor’s degree in Business or related field with 1 year banking experience. Lending knowledge and working knowledge of COCC Insight preferred.
• Must be detail oriented with strong organizational and verbal communication skills
• Working knowledge of Microsoft Word and Excel
• Working knowledge of LoanVantage or other loan origination system preferred
• Ability to perform a variety of tasks simultaneously while adhering to guidelines

Primary Responsibilities:

• Receives and tracks applications. Assists management in processing documentation related to Commercial real estate. Monitors application pipeline, and follows up on appraisals, 21E reports, and financials. Documents loan underwriting and processing activities related to Commercial loans on a daily basis
• Maintains new commercial loan files, including participation loans. Assembles and verifies accuracy of loan documentation for all commercial loan files and checks documents for proper vesting, legal descriptions, closing dates and signatures. Reports discrepancies to management.
• Files UCCs for new loans, modifications and renewals. Prepares renewal or termination documents as necessary. Assists in the preparation or delivery of disposition correspondence including commitment letters or adverse action and/or denied documentation, of approved or denied commercial loans. Prepares necessary loan documents for loan closings, either in-house or by attorney.
• Ensures that loans are processed in accordance with all the terms and conditions of the credit approval and all applicable regulatory guidelines.
• Assists with the SBA remittance fee due report on all SBA loans on a monthly basis. Prepares lending activity reports for the Pricing Committee on a bi-weekly basis.
• Assists management by responding to inquiries from customers, attorneys and other Bank personnel as needed to resolve problems. Acts as liaison with attorneys, appraisers, insurance companies and other applicable parties prior to and during closings to ensure accurate and consistent documentation.
• Ensures proper due diligence and CIP/ CDD Beneficial Ownership requirements are met prior to closing the loan, working with the Commercial Lending Officers as needed.
• Prepares and follows construction advances and closed loans. Coordinates a draw request for Construction Loans between customers and outside construction consultants and payouts.

East Cambridge Savings Bank, Attn: Human Resources

344 Cambridge Street Cambridge, MA 02141

East Cambridge Savings Bank is an Equal Opportunity Employer/Disabled/Veterans