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Loan Documentation Specialist/Loan Processor

Community West Bank
Goleta, CA
  • Posted: 7 days ago
  • Full-Time
Job Description

Community West Bank team members support and foster the values character, quality, people, community, and achievement. We live and breathe these attributes with all we do. As an integral member of the Manufactured Housing team for Community West Bank, this position will provide extraordinary customer service to our internal team members and external customers, exemplifying the Bank's values and our dedication to quality and service. This position will have direct responsibility as a Manufactured Housing team member to assist in the accomplishment of the Department Business Plan goals and objectives. This position will elevate the team as a member of the Bank's high-performance culture that emphasizes empowerment, quality, productivity, ethical standards, goal attainment and the ongoing development of CWB's vision to become the bank of choice for small and medium-sized businesses, professionals, and individuals in the markets we serve. We will combine steady growth, consistent earnings, and control risk to provide a safe and sound bank. Our people will be the difference, delivering an unparalleled experience to our clients, establishing consistency in earnings and enhanced shareholder value.


The Loan Documentation Specialist/Loan Processor works directly with lending team members, loan applicants, escrow companies and insurance agencies, to document, process and close residential loans while providing quality service for Bank customers purchasing a new home. This position takes responsibility for accurately preparing loan documents, funding, and closing loan follow up and may also take responsibility for processing some loan files from start to finish through funding. Processing loan files includes sending loan disclosures, ordering escrow, initial financial analysis, verification of credit, red flag, and fraud alerts, sending needs list and completing verifications. Communicate with Escrow, Loan Consultant and Underwriters and to ensure a smooth and timely closing of the loan. Cross train with Loan Underwriter. Will order loan documents and fund the loan. This position performs all essential duties in compliance with regulatory requirements as well as Bank policies and procedures.

Loan Documentation Duties:
* Once file moves into the Docs pipeline, prepare and order loan documents according to the bank guidelines for approved loans. Send document package to escrow and notify loan agent and escrow.
* Work with Escrow to determine of all escrow requirements. Request paid insurance proof just before funding.
* Review executed loan documents and other information to assure all Bank approval requirements are met to allow loan funding to the closing agent as required by policy.
* Coordinate with Underwriter, Loan Consultant, and Escrow to obtain final approvals and funding conditions.
* Review evidence of hazard insurance to ensure information is correct and adheres to Bank policy.
* Coordinate loan funding with Credit Operations Department. Prepare error free funding package.
* Responsible to verify wire details sent by Credit Ops to the Wire Room, match wire instructions from escrow.
* Issue First Payment Letters to borrowers and Letters to Rental and Co-Op mobile home parks.

Loan Processing Duties:
* Comply with CWB Credit Policies, Insurance and Processing Guidelines.
* Review assigned loan files for completeness and accuracy and conformity to the loan program listed.
* Review Credit Report and clear all Inquiries, Discrepancies, Red Flags and Alerts.
* Prepare and send all appropriate state and federal loan disclosures. Redisclose when changes occur.
* Prepare Loan Estimate, Change of Circumstance and Closing Disclosures for TRID loans.
* Prepare and electronically send all appropriate verification forms.
* Obtain any missing information or condition with appropriate agency, client, or loan consultant.
* Verify employment, credit report history, asset and income statements and vesting and ID documentation.
* Collect HCD documentation, salvage docs when needed. Obtain current ID and Trust Certification when needed.
* Send appraisal to applicant once the underwriter has reviewed the appraisal. Obtain Evidence of Insurance.
* Process the loan file to underwriting guidelines of the submitted loan program, review submitted documents for completeness and accuracy. Ensure that the Loan Operating System matches the file documentation and reflects the current information status.
* Build clean, complete, electronic file in EFolder.
* Communicate and document files as items come in or at least weekly for files in the processing pipeline, including withdrawn files or referred for denial files to underwriter.
* Submit the completed loan file to underwriting. Once decisioned, coordinate with Loan Consultant the collecting of the Underwriters' conditions of outstanding items. Coordinate proof of paid Insurance with client.

General Duties:
* Communicate with Loan Consultant, Underwriter, Applicants, Escrow, to resolve issues efficiently to ensure timely loan delivery with regulatory and procedural compliance.
* Completes all required regulatory training as assigned within deadlines established including BSA, Bank Security and any other training as assigned, within required timeframes and on an annual basis.
* Meets response and resolution times as defined in service level agreements and/or service requests and follows established processes to meet service level commitments.
* Maintains an understanding of the SOX control environment, risk assessment and control activities for the assigned area(s). As a control operations, maintains the knowledge and skill to perform the control and remains independent from related procedures performed in the process.
* Adheres to Sox-compliant procedures and consistently performs control activities accurately and completely with requisite source documentation.
* Cross trains in additional functions of the department

* Develop and implement effective processes to identify, escalate, report, track and remediate risk related issues.
* Completes all required regulatory training as assigned within deadlines established including BSA, Bank Security and any other training as assigned, within required timeframes and on an annual basis.
* Other duties and/or projects as assigned by supervisor

Community West Bank is an EEO/AA/Disability/Vets Employer. Reasonable Accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.

* Undergraduate degree in Business, Accounting, or Finance or an equivalent combination of education, training and experience
* Minimum 2 years of related experience, preferably at a financial institution
* Prior Escrow or Processing experience.
* Awareness of operational responsibility for Regulatory and Audit issues:
* Office of Foreign Assets Control (OFAC), Bank Secrecy Act (BSA), CRA, Affirmative Action, Americans with Disabilities Act (Title I), GLB Privacy Act, CCPA, Bank Bribery Laws, Civil Rights Act (Title VII), Family & Medical Leave Act, Wage and Hour Regulations, and applicable California Civil Code
* Regulatory and privacy and security concerns
* Appropriate banking laws, regulations, internal policies, and procedures. Regulations directly applicable to this position include Reg. CC, D, DD, E, B, C, H, O, U, X, and Z.
* Ability to work in a manner consistent with having a high level of integrity, honesty, courage, and loyalty
* Providing high quality customer service whether to the internal or external customer
* Ability to put people first in all aspects of your position
* Work with the intent of the betterment of our community
* Leadership and coaching
* Have a keen sense of self-awareness with how you work, mentor, and coach.
* Exhibit humility, approachability and listen
* Recognize the successes of your team and see the possibilities for growth, not the misses that were made
* Relax, have fun and don't take yourself too seriously!
* Ability to effectively comprehend and interpret Bank policies and procedures in the work environment
* Ability to work independently and collaborate effectively as a team member
* Ability to exercise good judgment in making decisions
* Ability to work under pressure, prioritize and meet deadlines
* Ability to complete tasks within prescribed time frames
* Ability to disseminate information and guidelines clearly to employees and check for understanding.
* Exhibit high degree of professionalism in handling and having access to sensitive information and protect and maintain that confidential information.
* Excellent interpersonal skills to communicate effectively with a wide range of employees and customers.
* Professional in appearance, and in verbal and written communication
* Proficient with: MS Word, Excel, Outlook, Internet


Compensation: Salary ranges from 50,000.00 to $68,000.00 per year. The salary range is determined by the role, job duties, and position level and reflect the minimum and maximum target for new hire salaries. Within the range, individual pay is determined by job – related skills, experience, and relevant education or training.
Generous vacation leave policies including additional sick days and all Federal holidays off
Employer paid medical, dental and vision insurance for the employee
401k with employer contributions
Annual cash incentive plan
Free financial and retirement planning services
Ancillary benefits available include critical illness & accident insurance, legal and identity theft protection, pet insurance

Community West Bank


Goleta, CA
93117 USA


Finance and Insurance

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