Loan Documentation Specialist

LOAN DOCUMENTATION SPECIALIST

JOB DESCRIPTION

The Loan Documentation Specialist is responsible for accurately preparing and reviewing loan documents in accordance with established policies, procedures and regulatory requirements. This role requires meticulous attention to detail, strong organizational skills, and the ability to work efficiently within tight deadlines. The specialist will collaborate closely with Commercial Bankers, underwriters, and other internal stakeholders in support of customer relationships to ensure seamless processing of loan applications. Handles customer contacts and inquiries regarding loan applications. Requires complete knowledge of loan documents and/or loan platform system. Assists with ensuring all necessary documentation is received from applicants. Verifies accuracy of loan applications, acquires all requested documentation and for final presentation of loan package back to underwriter prior to final decision. In addition, meets and greets customers and assists as needed in other areas of the bank.

ESSENTIAL FUNCTIONS

• Prepare the loan documents on all new, renewed or modified loans in accordance with the approved Loan Commitment or Loan Worksheet.
• Manage the processing function of all new, renewed or extension agreements, deferral agreements and adverse action loans.
• Initiate a pre-close review of loan documents in accordance with departmental procedures.
• Coordinate loan closings with Commercial Banker s, third party closing companies and the customer.
• Coordinate funding of the loan with attorneys, title companies, and other third-party vendors to facilitate the closing process.
• Conduct quality control checks to identify errors or inconsistencies in loan documents and address issues promptly.
• Assist the Commercial Bankers and credit specialist in following up on any identified exceptions.
• Ensure compliance with applicable federal, state and local regulations governing loan documentation and disclosures.
• Maintain organized electronic and physical filing systems for loan documents, ensuring proper documentation and record-keeping.
• Assist Commercial Bankers in support of co-worker and customer relationships.
• Serve as secretary to various loan related meetings, as needed or identified.
• Prepare all monthly bills and makes all required payments.
• Back up other areas of lending department.
• Learn products, services and procedures quickly and accurately; explain concepts clearly to customers.
• Stay informed about changes in lending regulations and industry best practices related to loan documentation.
• Uphold confidentiality and security protocols when handling sensitive borrower information and financial data.

ADDITIONAL RESPONSIBILITIES

• Perform other duties as assigned.
• Perform other tasks requested by supervisor as they relate to the Bank and its functions.
• Prepare various loan reports, as needed or identified including Board Reports, Black Book reports and Loan Committee reports.

Qualifications

PHYSICAL ACTIVITIES REQUIRED TO PERFORM ESSENTIAL FUNCTIONS

This work is sedentary and requires the following physical activities:

• Sitting for long periods of time; occasional bending, squatting, kneeling, stooping; good finger dexterity and feeling; frequent repetitive motions; talking, hearing, and visual acuity.
• Frequent lifting (up to 10 pounds of paper supplies or minor office equipment).

NOTE: The above statements are intended to describe the general nature and level of work performed by an employee in this position. These statements are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of employees in this position.

ENVIRONMENT AND INTERACTION

Normal office environment.

PROFICIENCIES

• Good written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person and over the phone.
• Basic word processing and computer database skills.
• Ability to learn and navigate computer systems and websites necessary to complete job description and other duties as assigned.
• Ability to handle high stress situations and perform job duties under critical time frames.
• Ability to deal effectively and tactfully with all types of calls and person-to-person contact with officers, other staff members and customers of the Bank.
• Effective interpersonal skills with the ability to work with individuals and groups at all organization levels; ability to work independently and as part of a team.
• Ability to take initiative and prioritize tasks; good time-management, organizational, problem-prevention and problem-solving skills.
• Knowledge and understanding of banking rules, regulations, laws and all policies and procedures pertaining to them including but not limited to the Bank Secrecy Act.
• Ability to work accurately with close attention to detail.
• Ability to establish credibility and rapport, be friendly and personable and look for ways to benefit the customer.
• Must be self-motivated, assertive, and perform well in a team environment.
• Must be organized and maintain a positive demeanor in all situations.

EDUCATION AND EXPERIENCE

• High school diploma or equivalent
• Bachelors Degree in Business Administration, Finance, or a related field preferred.
• 1+ Years experience in loan processing, documentation preparation, or commercial/consumer lending.