Commercial Loan Processor/Coordinator (Real Estate)- Commercial Term Lending
Compensation: $97,236.67 - $194,360.00 /year *
Employment Type: Full-Time
Industry: Financial Services - Banking/Investment/Finance
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Under the direction of the CTL Operations Manager, the incumbents must be able to evaluate, process, and/or service multiple multi-family and commercial real estate loans. Incumbents must also meet goals and standards and applicable regulatory and bank compliance requirements. This job function does not have underwriting authority, but does have the ability to sign off on loan conditions as designated (e.g. insurance/title policies, etc.). Manage expectations of sales team and/or borrowers related to timelines and appropriate documentation.
Point of contact for sales team, underwriters, and loan closers throughout the due diligence process to answer any questions that may arise. Work independently through complex transactions and identify issues and concerns, coordinate the communication of requests with appropriate lending officer and/or manager to expedite resolution. Effectively manage expectations of sales teams in terms of timelines and completion of loan documentation checklist throughout the due diligence process. Review borrower's loan application package, prepare additional information, and convey any issues discovered to the underwriting team. Validate the borrowers/principal's/entity structures and financial liquidity.
Obtain and review preliminary title report, underlying title documents and title proforma for acceptability and required endorsements to meet bank guidelines. Review file for proper documentation to confirm right types of third party reports are ordered and obtain clearances. Review title reports and insurance. Confirm escrow has been opened. Determine accurate signatures on loan documentation, and assemble underwriting and legal documentation files. Reviews all plotted easements.
Develop and maintain knowledge of guidelines and comply with Bank policy and requirements, industry standards, conveyance/settlement procedures, current real estate laws and appraisal requirements.
Develop and maintain contact with sales teams, closing teams, outside agencies (e.g. title, brokers, designated law firms and their staff, insurance and escrow companies) in order to obtain a complete application package and/or documentation for Commercial Term Lending (CTL) transactions. Ensure accuracy and thoroughness of data entry into Chase systems. Perform audit of sales file and underwriting file for submission to the closing/delivery group.
Strong Partnership Skills/Team Player
Strong Interpersonal Skills
Ability to work and communicate within all levels of management
3 to 5 years mortgage or commercial loan processing experience required
Bachelor's Degree preferred
The final officer title and job grade is at the discretion of the firm and will be discussed at the time of offer. It may be different than what is listed on the requisition based on candidate experience level.
Associated topics: collections officer, credit, document, file, financial record, loan clerk, loan collections, loan processor, mortgage processor, process
* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.
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