Loan Processor

US-IL-Lombard
Category
Lending - Commercial
Type
Regular Full-Time

Responsibilities

This is a non-exempt/hourly position.  Non-exempt employees categorized as Full-time generally work 37.5 hours per week.

 

Summary:  Responsible for all activities required to process and service commercial loans.  Assists customers with inquires and researches and/or resolves problems.

 

Essential Functions:
Reasonable accommodations may be made to enable individuals with disabilities to perform the following essential functions.
• Prepares loan documents according to the credit approval, internal policies and procedures as well as various regulations. Calculates monthly loan payment figures as necessary. Assembles documentation packages for loan closings.
• Transmits documentation, emails, and/or packages to lenders, title companies, and/or customers at various locations for loan closings as requested. Distributes daily reports to various lenders, managers and supervisors.
• May assist Relationship Associate with the ordering of appraisals, title reports or commitments, and flood determinations.
• May assist Relationship Associate by attaining corporate status, OFAC searches, UCC searches, tax liens and judgment searches, and any other searches and/or documentation as requested by Loan Officers.
•  Reviews UCC database for upcoming maturities and prepares and sends out continuation statements as needed.
• Processes requests for wire transfers, advances, and payments.
• Boards new loans to host system after a complete review of the documentation received from a closing has been made, ensuring accuracy in the package returned to the bank. Disburses proceeds according to the disbursement instructions.
• Researches and resolves payment posting concerns, including non-posted items and GL balancing discrepancies. 
• Calculates and prepares payoff letters.
• May process loan payoffs, including the release of collateral and paid notes.
• May assembles loan files.
• Sends documents out for recording, as needed. Follows up with other banks, title companies, counties, Secretary of State or the customer for return of collateral, ensuring the banks collateral position.
• May prepares documents for scanning.
• May review new/renewed loan setups for accuracy and compliance to bank procedure.
• May review various other file maintenance changes made by others within the department.
• May make file maintenance changes to existing loans as needed.
• Balances construction escrow accounts to ensure proper funding and payouts.
• Reviews insurance policies for correct information and follows up on policy expirations and cancelations and obtains insurance coverage as needed. Contacts customers and/or insurance agents to follow up on policies and/or cancellations via phone or mail to obtain proof of insurance coverage as needed.
• Inputs HMDA/CRA reporting into a database.
• Prepares documentation for standby letters of credit.
• Determines whether to report loans as CRA or HMDA based on provided criteria.
• Resolves general customer service issues.

Qualifications

Required Education and Experience:
• Strong verbal and written communication skills;
• Strong attention to detail;
• High school diploma or equivalent;
• Minimum 2 years’ experience in an administrative function, preferably in a Commercial Lending department.

 

Preferred Education and Experience:
• Intermediate computer skills. Trained in Microsoft Office Suite;

• Prior banking experience.

 

Requirements for performing Essential Functions:

On the job the employee may physically be required to bend, sit, walk, use finger movements, handle objects (manual dexterity), and/or carry/lift loads up to 25lbs. On the job the employee must mentally be able to read/comprehend, write, perform calculations, communicate orally, reason, and analyze. 

West Suburban Bank is an Equal Opportunity Employer. Minorities/Women/Veterans/Disabled.

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