Commercial Loan Administrator at Monroe

Job Description

A full service bank that providing commercial and relationship banking services, and offering an array of credit and deposit products for both individual and business clients throughout the Hudson Valley Region of New York is currently seeking a Loan Administrator to be based in our Monroe, NY location.

The Loan Administrator is responsible for the preparation of legal documents for consumer and commercial lending transactions; collection, processing and administrative duties related to residential lending with a private label mortgage company; documentation management; management reporting; audit assistance; and ensuring compliance with regulatory requirements and with the Bank’s policies and procedures. 

Commercial Loan Closing Preparation: preparation and distribution of standard legal documentation for consumer and commercial loan transactions.  Utilization of Laser Pro software application, in addition to correspondence and support for Bank approved attorneys for certain mortgage secured transactions.  Engage with commercial lenders and Bank approved attorneys to ensure the correct terms and conditions are reflected in the commitment letters and the loan documents.  Process all invoices for payment relates to the closed loans.  Maintain tracking of all documentation exceptions until items are received. 

Construction Maintenance: during the tenure of a construction loan, prepare advances, contact customers as needed, order inspection reports, order title construction reports, ensure loan is properly insured, process advances on Bank’s core system.  Communicate with commercial lenders and customers to ensure proper notification is completed on all requested advances, in addition to proper compliance.

Consumer & Residential Loan Processing & Closing Preparation for Home Equity and Primary Mortgages:  ensure residential loan files contain documents with proper signatures, dates and other relevant data. Verify accuracy of residential loan documentation, check documentation for proper vesting, legal descriptions, closing dates and signatures.  Maintain new and paid residential loan files.  Ensure all appropriate closing documentation is in the loan file (i.e. title documentation, home owners insurance, etc.). Review documents within 24 hours of receipt and communicate with loan originator. Possess knowledge of residential real estate compliance guidelines and the ability to implement them. 

Documentation Management:  preparation and management of collateral files for all closed loans.  Manage all incoming recorded documents, ensuring the proper filings are recorded, in addition to filing of these documents in their respective collateral files. Update the tickler system on Core System with receipt of outstanding documents.  Monitor, track and extend UCC filings expiring so there is no lapse in the security of a loan.

Management Reporting:  prepare and distribute necessary reports from Core System.  Prepare and distribute, quarterly exception reports, tickler reports, new loans opened, loan portfolio, TMS, and any other reports requested by management related to the Loan Department. 

Audit Assistance:  assist the credit department and commercial lenders with any and all audit requests, inclusive of certain Core System information (loan information, payment history, etc.), providing collateral and credit files, and other miscellaneous items. 

Compliance:  ensure compliance of regulatory requirement, Bank policies, and Bank procedures.  Continue to take the required ABA classes to maintain the most current knowledge regarding consumer and commercial lending compliance.

Miscellaneous:  additional administrative duties and responsibilities include TMS maintenance, completion of various closing checklists, ordering property inspections, ordering title continuation reports, scanning of documents, filing, collateral file creation, data entry, Core System  maintenance, reviewing files, completing loan transmittals, correspondences, provide back-up assistance to loan servicing when necessary, quality control other’s work when necessary,  and other tasks as needed. 

Job Requirements

Bachelor’s degree in Business Administration/Accounting/Finance or related field is preferred.

Two (2) to Four (4) years of Loan Administration experience (consumer or commercial) 

Some comparable combination of education and experience

Proficiency using Laser Pro software and FiServ a plus

Basic knowledge of residential regulations, including but not limited to GFE, TIL, RESPA, REG Z, etc.

Proficiency in all applications of Microsoft Office.

Effective communication skills, both written and oral, to convey financial and banking information.

Ability to work on multiple projects simultaneously, managing time and resources to ensure work is completed efficiently to and within the established timeframes.

Ability to establish and maintain effective and professional work relationships both internally and externally.

Knowledge of banking products, services, policies, procedures and regulations.
Effective time management skills and the ability to meet deadlines.

Working knowledge of commercial and industrial, construction and mortgage loan documentation.

Familiarity with standard loan operations, policies and procedures.

 

Country: USA, State: New York, City: Monroe, Company: Greater Hudson Bank.