Loan Administration

ROLE TITLE: Loan Administration
ROLE TYPE: FullTime
LOCATION: New Jersey
SALARY/HOURLY RATE: $50000 $80000
BENEFITS: Not specified
COMPANY NAME: Our client
COMPANY CULTURE: Familial all handson deck great leadership

RESPONSIBILITIES

Essential Duties & Responsibilities:

Loan Processing & Documentation:

• Accurately prepare loan payoff statements and obtain creditrelated information to order credit reports appraisals property searches and other due diligence items.
• Thoroughly review initial loan applications and determine what information and documentation are needed to proceed with the loan process.
• Submit requests to borrowers to obtain missing items review documentation upon receipt and prepare loans for underwriting.
• Communicate with Relationship Managers Mortgage Loan Officers or branch personnel to coordinate loan closing dates.
• Prepare loan documents within regulatory timeframes maintaining knowledge of current regulatory requirements related to TRID and other state and federal regulations.
• Review loan packages for completion and accuracy; verify all conditions have been satisfied while keeping thorough documentation from origination through closing.

Commercial Loan Administration:

• Prepare customer forms for signature including but not limited to CIP forms entity certification forms and regulatory disclosure forms.
• Review draft and final loan documents to ensure all terms and conditions are properly disclosed.
• Verify all preclosing conditions have been satisfied and funding/disbursement calculations are accurately documented before closing.
• Review title commitments insurance certificates appraisal reports and other collateral items.
• Ensure the loan is compliant with bank policy and regulatory requirements.
• Review postclosing packages to ensure all documents have been fully signed and received following up on any outstanding items.
• Scan and upload all documents and forms to the bank system per guidelines and procedures.
• Maintain loan files throughout the life of the loan following up and clearing exceptions and outstanding collateral items.
• Monitor expiring items and request information promptly.

General Loan Tasks:

• Prepare loan advance requests.
• Initiate loan funding wires.
• Process incoming and outgoing correspondence.
• Submit invoices for loanrelated fees.
• Handle tasks such as preparing packages for imaging assisting with real estate tax monitoring updating insurance and various loan ticklers performing collateral maintenance and reviewing incoming mail for loanrelated items (e.g. payments payoff checks postclosing loan documents).

QUALIFICATIONS

• 35 years of experience; must be currently employed with a banking institute.

OPTIONAL: KEY SCREENING QUESTIONS

• Are you currently employed at a bank in commercial loan administration
• What experience do you have in loan servicing documentation and closing

COMPANIES TO STAY AWAY FROM

• Provident & Lakeland

Remote Work :

No