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Logix Federal Credit Union · 1 month ago

Commercial Loan Processor Senior-Hybrid

US-CA-Valencia

Full-time

Hybrid

Senior Level

$36.32/hr - $54.48/hr

5+ years exp

Logix Federal Credit Union is seeking a Commercial Loan Processor Senior. This role is responsible for overseeing the entire process of commercial loan and SBA application and servicing, including problem resolution and communication with relevant parties.

BankingFinancial ServicesInsuranceLendingMortgage

Culture & Values

Responsibilities

Processes commercial and SBA loan packages from loan application to loan closing

Assembles and maintains applicant’s loan files ensuring completeness using a stacking order checklist

Corresponds with applicant to gather required financial information for the loan approval process

Follows up with applicants as to the status of pending loans at least every two weeks

Prepares loan closing documents for approved commercial/SBA loans including promissory note, deed of trust, business loan agreements, guarantee and other required closing documents to prepare for loan funding

Maintains open communication with members of the department as to the status of the loan

Maintains open communication with vendors, appraisers and any other interested parties to the loan transaction

Orders preliminary title policy, UCC searches, appraisal reports, environmental reports, and other data

Coordinates with commercial underwriters regarding issues with title policy, UCC searches and other credit related reports

Prepares SBA Loan Authorization

Reviews closing documents prior to loan funding ensure any pending items are addressed

Prepares and submits loan boarding file to DMI for commercial real estate loans

Coordinates resolution between applicant and commercial underwriters

Prepares and submits lenders’ instruction to escrow company

Reviews on a weekly basis pending items related to funded loans including final title policy, recorded deed of trust or other post-funding items

Maintains processing log to track the status of individual files

Prepares and completes legal file for storage and scanning

Assists in installing and updating loan closing documentation program, such Rembrandt (T-soft)

Assists in projects that create managerial report from Symitar and DMI

As required, prepares managerial reports such as sales pipeline report, watch list and other reports as assigned

Assists in commercial and SBA loan servicing

Prepares and reviews 1502 Colson Service Reports

Coordinates with borrower and/or insurance agent for lapsed or expiring insurances

Prepare and files UCC-1 continuation

Assists in obtaining updated financial statements, credit reports, rent rolls, and other financial information to maintain the servicing file

Assists in commercial/SBA workout and foreclosures

Assists commercial loan officers to retrieve historical information including credit file, scanned documents, updated credit reports and other information required to prepare workout or foreclosure requests

Participates in updating or creating commercial/SBA procedures

Provides necessary training to commercial/SBA Loan Processors

Makes recommendations relative to technical and compliance matters to Manager for modification documents and loan documents

Helps to coordinate with the underwriters request for necessary documents needed to satisfy closings not limited to indemnification documents, addendums to leases, and supporting entity documents to identify the actual signor of the loan

Communicates with internal compliance and outside counsel with Manager’s approval to obtain legal guidance for documentation purpose for complicated loan structures

Thoroughly reviews third party documents such as SNDAs, leases, and corporate documents to make recommendations to the Manager and Loan Officers to ensure soundness of the transaction

Coordinates closings directly in-house and with escrow companies

Works with peers and leadership from different functions and has an impact across the department

Qualification

SBA loan processingCommercial loan processingLoan closing documentationNotary PublicMicrosoft Office SuiteCustomer service skillsEffective communicationDetail oriented

Required

Must have at least 5+ years of current experience

Must have comprehensive knowledge of SBA/Commercial loan processing, closing and funding

Must successfully pass RESPA, FCRA, Reg B, and Reg Z classes and must be an active Notary Public or become a Notary Public within 6 months of assuming the position

Must be detail oriented and possess excellent customer service skills as well as effective oral and written communication skills

Must have a good working knowledge of the Microsoft suite of office products

Own and solve complex tasks that are part of a large project and lead small projects on their own