Commercial Loan Processor

State Street Bank; Quincy (IL); On-site; USD 45,000 - 65,000; Full time

Job summary

State Street Bank in Quincy, IL is seeking a Commercial Loan Processor to receive and process new commercial loan submissions and provide daily administrative support to the Lender. Responsibilities include ordering required documents, preparing loan documents, maintaining files, and coordinating loan closings within specified time frames.

The role requires a Bachelor’s degree in a related field and at least 1 year of loan processing experience, with strong time management and attention to

Qualifications

• Bachelor's degree in a related field and a minimum of 1 year experience performing loan processing preferred.
• Proficiency with Microsoft Office and strong communication skills are essential.
• Experience with LaserPro is a plus but not required.

Responsibilities

• Prepare accurate commercial loan documents in a timely manner.
• Handle inquiries from internal and external customers professionally.
• Order required documents (titles, appraisals, disclosures, payoffs, credits) to complete loan file.
• Preview loan files for completeness and ensure compliance.
• Process loan files for closing and/or mail adverse action notices as requested.
• Schedule loan closings for lenders as needed.
• Maintain documentation through routine file maintenance.
• Provide weekly and monthly reports to Lenders and senior management.
• Perform other duties as assigned.

Skills

Microsoft Office

Oral & written communication

Time management

Attention to detail

Education

Bachelor's degree in related field

Tools

LaserPro

Job description

Description

The Commercial Loan Processor is responsible for receiving and processing new commercial loan submissions; and for providing daily administrative support to the Lender; including ordering required documents necessary to process loans, documentation preparation, maintaining the loan file, and coordinating the closing of the loan within a specified time frame.

DUTIES & RESPONSIBILITIES

• Prepares accurate commercial loan documents in a timely manner
• Handles internal and external customer inquiries, questions, and/or concerns in a professional manner
• Orders the required documents (such as titles, appraisals, loan disclosures, obtains payoffs & releases, credit reports, required certificates & insurance) necessary to complete the loan file
• Previews loan files for completeness, accuracy, and ensures they are within compliance standards
• Processes loan files for closing and/or mails the adverse action notices to borrowers as requested by the lenders
• Schedules loan closings for lenders as requested
• Ensures documentation is maintained by performing file maintenance on a routine basis
• Provides weekly and monthly reports to Lenders and senior management as requested
• Performs other duties as assigned

Requirements

EDUCATION &/OR WORK EXPERIENCE REQUIREMENTS

• A Bachelor degree in a related field along with a minimum of 1 year experience performing loan processing functions is preferred.

MENTAL & PHYSICAL REQUIREMENTS

• Ability to sit/stand/kneel/bend/for extended periods of time, lift up to 20 lbs on occasion, ability to analyze and resolve problems, possess strong time management skills, flexibility to multi-task, attention to detail is critical.

COMPETENCIES

• Possess proficiency with Microsoft Office products, proficiency with LaserPro is preferred but not required, strong oral and written communication skills.