• Sr. Loan Processor (Commercial Lending)

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

     

    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.
    • All other reasonable duties as assigned.
    • Processes more sensitive information. May assist in special projects to coordinate and finalize.
    • Provides guidance to new loan processors. May assist in the training of new hires.

    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;
    • Minimum 2 years experience in Commercial lending and doc prep;
    • Knowledge of HMDA/CRA reporting requirements;
    • Strong computer skills. Proficiency in Microsoft Office Suite.

     

    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. 

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