Commercial Loan Administrator
3.
0 Carteret, NJ Carteret, NJ Full-time Full-time Estimated:
$68.
6K - $86.
8K a year Estimated:
$68.
6K - $86.
8K a year Loan Administration Specialist Job Description Department Lending Reports to SVP of Lending Classification:
Non-exempt Status Full-time
Summary:
The Commercial Loan Administration Specialist will be responsible for supporting loan officers in the originating and ongoing servicing of commercial, residential and consumer loans.
Functions will include assisting in the gathering of application data, completion of a pre-closing checklist, ordering of searches, appraisals, and environmental reports, and ensuring that the electronic and hard copy credit files are complete and organized.
Additionally, the Loan Administration Specialist will work closely with Loan Servicing personnel in the servicing of loans following onboarding.
DUTIES AND
Responsibilities:
The following reflects management's definition of essential functions for this job but does not restrict the tasks that may be assigned.
Management may assign or reassign duties and responsibilities to this job at any time due to reasonable accommodation or other reasons.
Utilize Abrigo for processing and pipeline tracking of loan requests.
Process residential loan requests from correspondent lenders, including reviewing lock requests, maintaining residential loan pipeline, processing funding requests and preparing files for onboarding by the Loan Servicing team.
Process consumer loan requests for Home Equity Loans and Lines of Credit, including calculation of debt to income ratios, loan to values and review of underwriting criteria Assist BDO/Loan Officers in gathering financial statements, tax returns, insurance, CIP, beneficial ownership information, and other key documents needed to complete commercial files for underwriting and approval.
Review applications for compliance with Bank's underwriting criteria, including informal preliminary debt service calculation of borrower/guarantor financials to determine eligibility for issuance of term sheets.
Create new electronic and hard copy credit files.
Ensure the files remain organized according to the file format layout.
Add new information to the files as received from customers, Bank/Borrower Counsel, Loan Officers and third-party vendors.
Prepare a pre-closing checklist, updating same as information is received.
Review pre- closing checklist to ensure all required items are received prior to closing being scheduled.
Order credit reports, property searches, OFAC reports, lien searches, entity status reports, making sure these are saved to the appropriate electronic folders, provided to bank counsel, and/or uploaded to PMP when required.
Prepare bank specific documents needed for closings (i.
e.
Beneficial Ownership forms, CIP forms, Initial Escrow Disclosure, NJ Initial Tax Authorization form, funding disbursements and boarding data forms).
Provide forms to Loan Servicing Manager for review prior to inclusion in closing packages.
Prepare outgoing wires for loan fundings.
Review outgoing wire with Loan Servicing Manager for approval.
Initiate wires upon confirmation of closing from Loan Officer orBank Counsel.
Assist the Loan Officer and Bank Counsel with scheduling closings, reviewing files for completeness, ensuring all conditions are met prior to closing, printing, and scanning loan documents, creating loan document files and reviewing same for completeness.
Monitor the Maturing Loans report to assist the Loan Officer with renewals, extensions and/or modifications of existing loans.
Work with the Loan Officer to gather required financial information, ordering, and reviewing updated searches, credit reports, flood searches, and entity status reports.
Prepare document packages for onboarding to the core system by Loan Servicing Specialist.
Assist the Loan Officer in the annual review process by reviewing the relationship report, sending out financial statement request letters, track incoming tax returns and financial statements, and update the core system upon completion of annual review.
Work closely with the Loan Servicing Department to maintain current insurance policies, escrow information, and respond to customer inquiries related to loan payments, payoffs, and general servicing questions.
Assist in the gathering of information requested for audits and compliance reviews.
Undertake special projects and perform any other job-related duties as assigned.
Assist in the finalization of written credit memorandums on all new loans, Renewals, extension, and modifications following preparation by underwriter.
Gather Information on current and prospective borrowers though inquiries and investigations with trade suppliers, financial institutions, appraisers, professional firms, or individual and in-house information on borrowers related to loan amount, activity, and profitability and affiliate relationships.
Assist in portfolio management activities such as completing Annual Reviews and Loan Management Reports on existing borrowers.
Process financial statements and tax returns received through Abrigo for initial underwriting reviews.
Regularly track stages of active and pending loans.
Assist in the underwriting process of BHG and Residential Loans (as needed).
KNOWLEDGE, SKILLS & ABILITIES Experience with commercial lending Excellent customer service skills, attentiveness, information retention, tact and diplomacy in dealing with both customers and employees.
Mathematical skills A high degree of organization, accuracy and attention to detail Competence with computers and office related software (such as Word, Excel, Outlook, Teams) telephone, calculator, and other office machinery.
Ability to work in a fast-paced environment and under pressure as needed.
Proficient knowledge of banking laws, regulations, and procedures.
This position requires a perceptive person who is capable of relating to individuals at all levels.
As unique situations present themselves, the incumbent must be sensitive to Bank needs, customer and employee goodwill, and the public image.
The requirements listed above are representative of the knowledge, skill and/or ability required.
Reasonable accommodations can be made to enable individuals with disabilities to perform the essential functions.
EDUCATION & EXPERIENCE Formal Education through 4 years of college preferred with a minimum of 3 years of banking experience or appropriate work experience, including professional training and certifications, as an acceptable alternative.
Credit underwriting and statement analysis a plus.
Certification as a Notary Public preferred.
Job Type:
Full-time
Benefits:
Dental insurance Health insurance Paid time off Physical setting:
Office Schedule:
8 hour shift People with a criminal record are encouraged to apply Ability to Relocate:
Carteret, NJ 07008:
Relocate before starting work (Required) Work Location:
In person Department Lending Reports to SVP of Lending Classification:
Non-exempt Status Full-time.
Estimated Salary: $20 to $28 per hour based on qualifications.
0 Carteret, NJ Carteret, NJ Full-time Full-time Estimated:
$68.
6K - $86.
8K a year Estimated:
$68.
6K - $86.
8K a year Loan Administration Specialist Job Description Department Lending Reports to SVP of Lending Classification:
Non-exempt Status Full-time
Summary:
The Commercial Loan Administration Specialist will be responsible for supporting loan officers in the originating and ongoing servicing of commercial, residential and consumer loans.
Functions will include assisting in the gathering of application data, completion of a pre-closing checklist, ordering of searches, appraisals, and environmental reports, and ensuring that the electronic and hard copy credit files are complete and organized.
Additionally, the Loan Administration Specialist will work closely with Loan Servicing personnel in the servicing of loans following onboarding.
DUTIES AND
Responsibilities:
The following reflects management's definition of essential functions for this job but does not restrict the tasks that may be assigned.
Management may assign or reassign duties and responsibilities to this job at any time due to reasonable accommodation or other reasons.
Utilize Abrigo for processing and pipeline tracking of loan requests.
Process residential loan requests from correspondent lenders, including reviewing lock requests, maintaining residential loan pipeline, processing funding requests and preparing files for onboarding by the Loan Servicing team.
Process consumer loan requests for Home Equity Loans and Lines of Credit, including calculation of debt to income ratios, loan to values and review of underwriting criteria Assist BDO/Loan Officers in gathering financial statements, tax returns, insurance, CIP, beneficial ownership information, and other key documents needed to complete commercial files for underwriting and approval.
Review applications for compliance with Bank's underwriting criteria, including informal preliminary debt service calculation of borrower/guarantor financials to determine eligibility for issuance of term sheets.
Create new electronic and hard copy credit files.
Ensure the files remain organized according to the file format layout.
Add new information to the files as received from customers, Bank/Borrower Counsel, Loan Officers and third-party vendors.
Prepare a pre-closing checklist, updating same as information is received.
Review pre- closing checklist to ensure all required items are received prior to closing being scheduled.
Order credit reports, property searches, OFAC reports, lien searches, entity status reports, making sure these are saved to the appropriate electronic folders, provided to bank counsel, and/or uploaded to PMP when required.
Prepare bank specific documents needed for closings (i.
e.
Beneficial Ownership forms, CIP forms, Initial Escrow Disclosure, NJ Initial Tax Authorization form, funding disbursements and boarding data forms).
Provide forms to Loan Servicing Manager for review prior to inclusion in closing packages.
Prepare outgoing wires for loan fundings.
Review outgoing wire with Loan Servicing Manager for approval.
Initiate wires upon confirmation of closing from Loan Officer orBank Counsel.
Assist the Loan Officer and Bank Counsel with scheduling closings, reviewing files for completeness, ensuring all conditions are met prior to closing, printing, and scanning loan documents, creating loan document files and reviewing same for completeness.
Monitor the Maturing Loans report to assist the Loan Officer with renewals, extensions and/or modifications of existing loans.
Work with the Loan Officer to gather required financial information, ordering, and reviewing updated searches, credit reports, flood searches, and entity status reports.
Prepare document packages for onboarding to the core system by Loan Servicing Specialist.
Assist the Loan Officer in the annual review process by reviewing the relationship report, sending out financial statement request letters, track incoming tax returns and financial statements, and update the core system upon completion of annual review.
Work closely with the Loan Servicing Department to maintain current insurance policies, escrow information, and respond to customer inquiries related to loan payments, payoffs, and general servicing questions.
Assist in the gathering of information requested for audits and compliance reviews.
Undertake special projects and perform any other job-related duties as assigned.
Assist in the finalization of written credit memorandums on all new loans, Renewals, extension, and modifications following preparation by underwriter.
Gather Information on current and prospective borrowers though inquiries and investigations with trade suppliers, financial institutions, appraisers, professional firms, or individual and in-house information on borrowers related to loan amount, activity, and profitability and affiliate relationships.
Assist in portfolio management activities such as completing Annual Reviews and Loan Management Reports on existing borrowers.
Process financial statements and tax returns received through Abrigo for initial underwriting reviews.
Regularly track stages of active and pending loans.
Assist in the underwriting process of BHG and Residential Loans (as needed).
KNOWLEDGE, SKILLS & ABILITIES Experience with commercial lending Excellent customer service skills, attentiveness, information retention, tact and diplomacy in dealing with both customers and employees.
Mathematical skills A high degree of organization, accuracy and attention to detail Competence with computers and office related software (such as Word, Excel, Outlook, Teams) telephone, calculator, and other office machinery.
Ability to work in a fast-paced environment and under pressure as needed.
Proficient knowledge of banking laws, regulations, and procedures.
This position requires a perceptive person who is capable of relating to individuals at all levels.
As unique situations present themselves, the incumbent must be sensitive to Bank needs, customer and employee goodwill, and the public image.
The requirements listed above are representative of the knowledge, skill and/or ability required.
Reasonable accommodations can be made to enable individuals with disabilities to perform the essential functions.
EDUCATION & EXPERIENCE Formal Education through 4 years of college preferred with a minimum of 3 years of banking experience or appropriate work experience, including professional training and certifications, as an acceptable alternative.
Credit underwriting and statement analysis a plus.
Certification as a Notary Public preferred.
Job Type:
Full-time
Benefits:
Dental insurance Health insurance Paid time off Physical setting:
Office Schedule:
8 hour shift People with a criminal record are encouraged to apply Ability to Relocate:
Carteret, NJ 07008:
Relocate before starting work (Required) Work Location:
In person Department Lending Reports to SVP of Lending Classification:
Non-exempt Status Full-time.
Estimated Salary: $20 to $28 per hour based on qualifications.
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