Commercial Loan Assistant

Posted: 02/02/2022

The Commercial Loan Assistant is responsible for assisting the Commercial Lending Officers of the Bank. This person is responsible for ensuring accurate and timely set up of new loans from the due diligence phase through booking the loan. The CLA is also responsible for assisting in the tracking, monitoring, and advancing funds for construction loan projects. In addition, the CLA provides customer support which includes responding to customer loan questions, issue resolution and payment corrections (to name a few). The CLA will follow best practices using the Bank’s Commercial Lending policies and procedures. The CLA will comply with all State and Federal lending regulations and provide the highest level of service and support to bank’s customers.

EXAMPLES OF KEY DUTIES:

  • Setting up commercial loan files, responsible for maintaining department files in an accurate and efficient manner.
  •  Order required due diligence items (i.e. Appraisals, Environmental Reports, Property Inspections, Flood Searches and UCC searches).
  • Prepare and review internal documentation for commercial loan closings as needed.
  • Works with third-party professionals (attorneys, appraisers, inspectors, etc.) in order to close loans in conformity with approved terms and conditions.
  • Reviews all loan documents prior to closing to ensure that they will cover the intended collateral and documentation of the borrower’s and guarantor’s obligations to the bank.
  • Prepares loan funding information based upon the approval and closing documents.
  • Works with participant banks in arranging for funding on loans sold or purchased.
  • Processes pre-closing escrow deposits made by customers held against closing costs such as fees, appraisals, etc.
  • Verifies that all pre-closing conditions have been met prior to authorizing funding.
  • Perform other related duties as assigned.
  • Perform procedures related to advances, pay downs, and disbursement process
  • Ensures accuracy and proper use of tracking reports for key information such as Flood Insurance, Property Tax Insurance, UCC’s, etc.
QUALIFICATIONS: Education and Experience:
• Bachelor’s degree preferred.
• 2 - 4 year’s prior experience in either of the following: commercial lending, loan processing, loan servicing.

Required Skills:
• Strong interpersonal communication skills.
• Ability to prioritize initiatives and duties.
• Ability to meet deadlines and follow directions in a timely, accurate and confidential manner.
• Ability to work independently
• Proficiency with Microsoft Word and Excel
• Familiarity with commercial loan documents, SBA loan documents, and insurance documents

PHYSICAL DEMAND AND EQUIPMENT USED: Must be able to sit, walk or stand for extended periods. • Must be able to travel to branch locations. • Must be able to travel for business related matters. • General Office environment • General Office equipment

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