Commercial Loan Processing Specialist

The First National Bank of Elmer; Elmer (NJ); On-site; USD 50,000 - 80,000; Full time

Job summary

An established industry player is seeking a detail-oriented Loan Clerk to manage commercial loan processing and servicing. In this role, you'll ensure compliance with bank policies while coordinating with various stakeholders. Your expertise in loan documentation and regulatory requirements will be crucial as you handle diverse loan products. Join a dynamic team where your contributions directly impact the efficiency of loan operations. This is a fantastic opportunity to grow in a supportive environment that values your skills and dedication.

Qualifications

• 5+ years of banking experience in loan operations.
• Knowledge of various commercial loan documents.
• Strong communication and analytical skills.

Responsibilities

• Processes commercial loans and performs loan servicing duties.
• Ensures loan packages comply with regulatory requirements.
• Coordinates with loan officers and borrowers for loan closings.

Skills

Loan Processing

Regulatory Compliance

Communication Skills

Analytical Skills

Organizational Skills

Education

Associate or Bachelor's Degree in Accounting

Banking Experience

Tools

LaserPro

Fiserv DNA

Job description

1 week ago Be among the first 25 applicants

Job Summary: Under general supervision and direction of the Loan Operations Manager, and in accordance with policies and procedures, processes commercial loans and performs a variety of loan servicing duties.

Essential Functions

• Processes a variety of commercial loan products including commercial real estate loans, equipment loans, working capital lines of credit, construction loans, letters of credit, and Small Business Association (SBA) loans, utilizing credit approval memorandums and/or approved application documentation.
• Ensures that all loan packages are complete and comply with regulatory requirements and bank policies and procedures before preparing loan documents and submitting them to the loan officer for signing and disbursement.
• Works with loan officers to gather and review business entity documents.
• Ensures receipt of all loan packages supporting documentation including, but not limited to: title reports, searches, credit reports, financial documentation, insurance, credit approval, collateral information, appraisal, organizational documents.
• Ensures that all conditions of the loan approval are met.
• Ensures all title company conditions have been met.
• Prepares input documentation into loan documentation system (LaserPro) and core operating system (Fiserv DNA) for various commercial loan products.
• Coordinates and communicates effectively with loan officers, borrowers, title companies, and attorneys regarding loan closings. This includes, but is not limited to, closing instructions, fee information, and any other items necessary to obtain clear to close.
• Assembles and verifies accuracy of all documentation as it pertains to the loan terms and conditions requested. Includes both “in-house” documents (i.e.. LaserPro) and attorney prepared documents.
• Processes and files all lien perfections on all collateral types including, but not limited to: titled collateral, Uniform Commercial Code (UCC) filings, real estate, marketable securities, deposit accounts, and assignment of life insurance policies.
• Prepares and maintains all loan processor checklists.
• Maintains and updates all applicable processing logs.
• Prepares and provides loan disbursement instructions for loan officers or title companies.
• Ensures that adequate evidence of insurance for all collateral types has been obtained according to bank policy and regulations.
• Contacts the borrower and/or loan officer for additional documentation, as needed. Documentation can include, but is not limited to: copies of identification, organizations documents, copy of insurance policies, copy of purchase invoices, collateral information, etc.
• Communicates receipt and status of loan packages that have been submitted for processing and documentation with Credit Administration Officer and loan officers, as needed.
• Works with loan officers and Credit Administration Officer to ensure all construction loan advances are processed in a timely manner and in compliance with the banks’ policies and procedures. This includes but is not limited to ordering title bring downs and third-party inspections.
• Prepares documentation for a variety of other lending products including consumer, residential mortgage and construction lending as necessary.
• General knowledge of Home Mortgage Disclosure Act (HMDA) which includes. completing the HMDA data worksheet, working with loan officers and other lending department staff for the bank’s review and submission of HMDA data into the Loan Application Register (LAR) as required.
• Maintains confidentiality of all corporate and borrower matters.

Other Duties

• Maintains accurate records and files.
• Provides a high level of support for loan officers and lending staff to ensure compliance and service levels are maintained.
• Keeps abreast of regulatory requirements of the position and the Banks’ policies and procedures.
• Cross trains and performs backup to loan servicing.
• Performs other duties as assigned or required.

Education & Experience

Associate or bachelor’s degree in accounting, finance or business administration and/or a minimum of five (5) years’ banking experience in loan operations.

Knowledge, Skills, & Abilities

• Knowledge of various entity structures is essential.
• Knowledge of LaserPro, Fiserv DNA, and/or other applicable programs is preferred.
• Understanding of various commercial loan documents, including but not limited to loan agreements, security agreements, guaranty agreements, and promissory notes.
• Strong communication and analytical skills.
• Thorough knowledge of word processing and spreadsheet applications.
• Knowledge of loan processing practices and procedures, and loan processing regulatory compliance.
• Ability to handle multiple tasks simultaneously.
• Exceptional organizational skills.
• Ability to prioritize tasks and meet deadlines.
• Team oriented with good communication and interpersonal skills.

Physical Demands & Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Ability to use fingers and hands.
• Ability to see, hear, talk, read, and write.
• Ability to sit, stand, kneel, and bend.
• Ability to reach with hands and arms.
• Use office equipment: computer, telephone, calculator, copier, fax machine.
• Must be able to lift and/or move up to 25 pounds.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

• Industries

  Banking

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