Loan Support Officer

Cathay Bank; El Monte (CA); On-site; USD 36,423 - 52,982; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

401(k) plan

Job summary

A leading financial institution in El Monte, California, seeks a professional to close commercial real estate and construction loans. The role involves coordinating with various internal and external stakeholders to ensure smooth processing, monitoring loan covenants, and providing quality client service. The ideal candidate will have 2-3 years of experience in lending, possess strong financial analysis skills, and be proficient in relevant software. Competitive hourly pay and benefits are offered.

Qualifications

• Minimum 2-3 years of commercial real estate lending and banking experience.
• Strong understanding of closing construction loans.
• Good knowledge of general bank credit underwriting policies.

Responsibilities

• Coordinate with internal and external units to close commercial real estate and construction loans.
• Verify equity for construction loans.
• Set up construction loan ledgers and balance sources/uses of funds.
• Assist in monitoring loan covenants and insurance.

Skills

Windows proficiency

Word proficiency

Excel proficiency

Outlook proficiency

Bilingual (English and Mandarin/Cantonese)

Strong financial analysis skills

Organized and detail-oriented

Good verbal and written communication skills

Education

College graduate with major in accounting, finance, or business

Job description

Overview

Following established policies and department procedures, responsible for closing commercial real estate and construction loans including new loans, renewals, modifications, and amendments. Support Loan Officers in processing deals, client service, and loan/covenant monitoring.

Essential Functions

• Coordinate with internal and external units (e.g., loan documentation department, loan servicing department, title, escrow, borrower, broker) to close commercial real estate and construction loans.
• Verify equity for construction loans.
• Set up construction loan ledgers and balance sources/uses of funds.
• Assist in monitoring loan covenants and insurance.
• Support lending team’s client service and loan processing.
• Upload loan-related documents to imaging system.
• Prepare required disclosure information within designated time frames.
• Prepare periodic reports.
• Provide quality client service and follow up on outstanding items.
• Ensure compliance with bank, regulatory and credit requirements with emphasis on quality client service while adhering to given deadlines.

Qualifications

• Education: College graduate with major in accounting, finance, or business preferred.
• Experience: Minimum 2-3 years commercial real estate lending and banking experience with strong understanding of closing construction loans.
• Skills/Ability: Windows, Word, Excel, and Outlook proficiency. Good verbal and written communication skills. Bilingual (English and Mandarin/Cantonese) a plus. Organized and detail oriented. Good knowledge of general bank credit underwriting policies. Ability to manage loan funding/closing and complex loan issues. Ability to work effectively in a fast-paced, high-production environment. Strong financial analysis and accounting skills.

Other Details

$26.44 – $38.46 / hour. Pay determined based on job-related knowledge, skills, experience, and location. This position may be eligible for a discretionary bonus. Cathay Bank offers its full-time employees a competitive benefits package which includes medical, dental, vision, life, long-term disability insurance, flexible spending accounts, health saving account with company contributions, voluntary coverages, and 401(k).

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