• Commercial Loan Processor

    Location US-IL-Lombard
    Lending - Commercial
    Regular Full-Time
  • Responsibilities

    This is a Full Time non-exempt/hourly position. 

    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.

    • Processes requests for wire transfers, advances, and payments. Boards new loans to host system after a review of the documentation received for funding has been made. Disburses proceeds according to provided disbursement instructions.
    • Prepares loan documents according to specifications provided by Loan Officers. Calculates monthly loan payment figures as necessary. Assembles documentation packages for loan closing.
    • 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 and supervisors.
    • May assist Relationship associate with ordering credit reports, appraisals, title reports, 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 database for upcoming maturities and prepares and sends out continuation statements as needed.
    • Researches and resolves payment posting concerns, including non-posted items and GL balancing discrepancies.
    • Calculates and prepares payoff letters. May process loan payoffs, including release of collateral and paid notes.
    • Assembles loan files and allocates documents for recordation. Follows up with other banks, title companies, counties, and Secretary of State for return of collateral. Prepares documents for scanning.
    • May review new/renewed loan setup for accuracy and add files maintenance verification to mainframe.
    • Balances construction escrow accounts to ensure proper funding and payouts.
    • Arranges inspections and processes construction escrow draws. Coordinates with title companies, insurance agents, and customers.
    • 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 Laser Pro lending. 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.
    • All other reasonable duties as assigned.


    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, and handle objects (manual dexterity). 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 Minority/Female/Disabled/Veteran



    Sorry the Share function is not working properly at this moment. Please refresh the page and try again later.
    Share on your newsfeed

    Need help finding the right job?

    We can recommend jobs specifically for you! Click here to get started.