Loan Processor

Phaxis; Los Angeles (CA); On-site; USD 40,000 - 60,000; Full time

Job summary

A financial services company based in California is seeking a Loan Clerk / Loan Processor. The role involves processing loan applications, verifying accuracy of documents, and maintaining compliance with relevant regulations. Ideal candidates should possess strong document preparation skills and an understanding of commercial and retail loan processing practices. This position requires effective communication abilities and the capability to manage multiple tasks in a fast-paced environment.

Qualifications

• Knowledge of basic concepts, practices, and procedures of commercial and retail loan processing.
• Understanding of compliance with all state and federal regulations.
• Ability to read, interpret, analyze, and apply information from loan application documents.

Responsibilities

• Obtain required loan documentation and process less complex loan applications.
• Order credit verifications and third-party services.
• Verify loan files and supporting documents for accuracy and completeness.

Skills

Processing less complex loan applications

Document preparation for retail and/or commercial loans

Verifying information for accuracy and completeness

Preparing loan approval and/or closing packages

Preparing records and reports

Performing basic calculations

Basic analytical and problem-solving skills

Operating standard office equipment and using required software applications

Job description

Loan Clerk / Loan Processor – California, Los Angeles

Responsibilities

• Obtain required loan documentation and process less complex loan applications.
• Order credit verifications and third-party services.
• Track receipt of and review legal documents.
• Set up and monitor loan and financial ticklers to ensure accuracy and timeliness of receipt of documents.
• Verify loan files and supporting documents for accuracy and completeness.
• Follow up on missing documentation.
• Prepare and compile documents for review and approval.
• Prepare or review for accuracy, disclosures required by relevant consumer regulations.
• Schedule or coordinate loan closings and clear for disbursement of proceeds.
• Prepare compliance and accounting records and reports, as required by management and regulatory agencies.
• Perform basic loan calculations.
• Assist customers with basic inquiries or problems.
• Perform pre-closing/post-closing/due diligence review of legal agreements and other closing documents to terms of loan commitment.
• Monitor existing loans and maintain files with sufficient documentation for third-party review and prepare files for timely audits.
• Prepare client communications on loan terms.
• Maintain currency in loan processing policies and procedures.
• Review property and liability insurance to ensure compliance with bank policy and procedure.
• Independently prepare data input sheets and provide required information for loans to be boarded on the bank's servicing system and ensure all loan coding is correct.
• Work with attorneys and other financial or legal resources to obtain the correct, accurate documents to fully protect the financial institution's interests in the credit relationship.
• Perform other duties and responsibilities as assigned.

Knowledge

• Basic concepts, practices, and procedures of commercial and retail loan processing.
• Basic principles of banking and finance.
• Financial markets and products.
• Compliance with all state and federal regulations.

Skills

• Processing less complex loan applications.
• Document preparation for retail and/or commercial loans.
• Verifying information for accuracy and completeness.
• Preparing loan approval and/or closing packages.
• Preparing records and reports.
• Performing basic calculations.
• Basic analytical and problem-solving skills.
• Operating standard office equipment and using required software applications.

Abilities

• Read, interpret, analyze, and apply information from loan application documents.
• Interpret and apply policies.
• Organize, manage, and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment.
• Communicate effectively, both orally and in writing.
• Work independently as well as collaboratively within a team environment.
• Handle stressful situations and provide a high level of customer service in a calm and professional manner.
• Establish and maintain effective working relationships.
• Maintain currency in loan processing policies and procedures.