Commercial Loan Coordinator

ADP, Inc.; Cambridge (MA); On-site; USD 33,000 - 45,000; Full time

Job summary

East Cambridge Savings Bank in Cambridge, MA is seeking a Commercial Loan Coordinator to support processing of commercial loans. You will track applications, assist with document preparation, and help manage the loan file lifecycle.

Responsibilities include coordinating closings, ensuring compliance with guidelines, and liaising with attorneys, appraisers, and customers. Strong banking knowledge and detail orientation are essential.

Qualifications

• 1-3 years’ banking experience or bachelor’s degree with 1 year banking experience.
• Detail oriented with strong organizational and verbal communication skills.
• Proficient in Microsoft Word and Excel.
• Working knowledge of LoanVantage or other loan origination system preferred.
• Able to manage multiple tasks while following guidelines.

Responsibilities

• Receives and tracks applications; assists in processing commercial loan documentation.
• Maintains commercial loan files and verifies accuracy of documents.
• Files UCCs, prepares renewal/termination documents, and coordinates loan closings.
• Ensures loans comply with credit terms and regulatory guidelines.
• Assists with SBA remittance reporting and lending activity reports.

Skills

Banking experience

Detail oriented

MS Word

Excel

Loan origination system

Multitasking

Education

Bachelor's degree in Business or related field

Tools

COCC Insight

LoanVantage

Job description

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.

Commercial Loan Coordinator

Cambridge, MA, US

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