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LoanBud · 2 months ago

Loan Documentation Specialist

New York, NY

Full-time

Hybrid

Mid Level

4+ years exp

LoanBud is a growing company dedicated to helping small businesses secure financing. The Loan Documentation Specialist will assist Business Lending Officers and borrowers in processing and closing SBA and other commercial loans, ensuring compliance with program requirements and lender guidelines.

Financial ServicesInformation Technology

Responsibilities

Collaborates with internal staff including Business Lending Officers to process and close loans in a timely manner

Reviews the loan file and prepares a list of items required to close and fund the loan

Communicates the requirements and loan status clearly and concisely

Prepares loans for submission in accordance with lender guidelines and requirements

Calculates business and/or global debt service coverage ratios

Opens Title and orders preliminary title reports as required; reviews title reports and make changes as necessary

Reviews and accepts entity documentation such as articles, by-laws as well as partnership and LLC documents

Ensures compliance and adherence to SBA Standard Operating Procedures (SOP) and lender credit policy

Determines insurance requirements and obtains hazard/flood/liability insurance as required

Reviews loan applications and determines initial eligibility

Prepares and completes loan document requests; ensure that loans are documented correctly to ensure conformance with lender approvals and conditions

Coordinates closings with borrowers, referral partners and business lending officers

Maintains accurate pipeline reports; meets monthly loan closing and loans in pipeline goals

Perform other duties as assigned

Qualification

Loan processing experienceSBA loans knowledgeMS Office proficiencyAnalytical skillsQuality managementPlanning/organizing skillsJudgment skillsCommunication skillsProblem-solving skillsLeadership skills

Required

Banking, loan processing or loan review experience

Attention to detail

Excel in process workflow

Deadline Oriented – the individual acts with a sense of urgency to prioritize and hit required deadlines

Analytical - the individual synthesizes complex or diverse information

Problem-solving - the individual identifies and resolves problems on time and gathers and analyzes information skillfully

Communication - the individual speaks and writes clearly and persuasively in positive and negative situations, demonstrates excellence in telephone etiquette, customer service, and business communication skills

Leadership - the individual inspires and motivates others to perform well, accepts feedback from others

Quality management - the individual looks for ways to improve and promote quality and demonstrates accuracy and thoroughness, including the ability to proofread documents for accuracy

Judgment - the individual displays willingness to make decisions, exhibits sound and accurate judgment, and makes timely decisions

Planning/organizing - the individual prioritizes and plans work activities, uses time efficiently, and develops realistic action plans

Safety and security - the individual observes safety and security procedures and uses data and materials properly