The Commercial Loan Processor is responsible for providing comprehensive support in the preparation, processing, and closing of commercial loan transactions, ensuring accuracy, timeliness, and compliance with all credit union policies, procedures, and applicable regulations. This position works closely with commercial loan officers, underwriters, and members to facilitate a smooth lending process while maintaining the highest level of service and confidentiality. Salary range will be based on experience.
- Receive, review, and process commercial loan applications for accuracy and completeness.
- Order and review credit reports, flood certifications, appraisals, environmental reports, title commitments, and other required documentation.
- Prepare loan files for underwriting, ensuring all necessary information and supporting documentation are included.
- Track outstanding documentation and follow up with members, attorneys, vendors, and internal staff to ensure timely receipt.
- Ensure all loan documents comply with credit union policies, regulatory requirements, and investor guidelines.
- Prepare closing packages, including promissory notes, security agreements, guarantees, and other necessary documentation.
- Coordinate and schedule loan closings with members, attorneys, and other involved parties.
- Maintain accurate and complete loan files in accordance with credit union and NCUA guidelines.
- Verify loan conditions and ensure documentation meets regulatory and internal compliance requirements.
- Assist with post-closing reviews to ensure all collateral documents are properly recorded and filed.
- Monitor tickler reports and track collateral perfection, insurance, and other ongoing requirements.
- Provide timely updates to members and internal stakeholders regarding loan status.
- Respond to member inquiries with professionalism and accuracy.
- Assist commercial loan officers with gathering and analyzing financial information as needed.
- Maintain organized electronic and physical loan files.
- Assist in identifying process improvements to enhance workflow efficiency.
- Support the Commercial Lending team in preparing reports and tracking pipeline activity.
- Performs other job-related duties as assigned to support the overall goals and objectives of the credit union.
Education & Experience:
- High school diploma or equivalent required; associate degree in business, finance, or related field preferred. - Minimum of 2 years of experience in loan processing, preferably in commercial or business lending within a credit union or banking environment. - Working knowledge of lending regulations, loan documentation, and commercial lending products.
Skills & Abilities:
- Strong attention to detail and accuracy in data entry and documentation. - Excellent organizational and time management skills, with the ability to handle multiple priorities. - Proficient in Microsoft Office Suite (Word, Excel, Outlook) and loan origination software. - Strong communication and interpersonal skills, with a member-focused mindset. - Ability to maintain confidentiality and adhere to all credit union policies.
Office environment with standard business hours. Extended hours may be required to meet deadlines. Occasional travel to branch locations, member businesses, or off-site closing locations.
Ability to sit for extended periods and work at a computer. Occasional lifting of files or office supplies up to 20 pounds.
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