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WaFd Bank · 8 hours ago

Commercial Loan Coordinator - Senior

US-WA-Seattle

Full-time

Onsite

Senior Level

5+ years exp

WaFd Bank is a financial institution focused on providing excellent service to its clients. The Senior Loan Coordinator will work closely with various banking professionals to manage the documentation and operational support necessary for commercial loans, ensuring compliance and efficient processing.

BankingFinanceFinancial Services

Responsibilities

Builds and maintains productive relationships with existing clients

Prepares correspondence to prospective clients

Initiates credit and title reports, and appraisal orders for review by the Department

Responsible for processing and closing loans according to the Bank's policies and procedures and regulatory guidelines

Participates in business development and referral activities

Coordinates with Commercial Loan Processing to provide all required loan documents necessary to perfect our security interest, as required by Credit Administration

Delivers excellent customer service to the internal customers in the execution of all assigned business processing duties and within service level standards

Opens escrow with title/escrow companies and sets up escrow files; orders payoffs

Coordinates and facilitates initial loan booking/funding; reviews and approves loans and documents and resolves any title or other issues prior to loan closings

Coordinates with in-house experts or outside legal counsel on technical transactions

Sets up the loan file, including preparation of loan documentation

Coordinates closing with the escrow company

Prepares boarding instructions

Follows up on funding requirements and on any post-closing required loan documentation

Follows the Bank's Information Security policies, ensuring that all customer information and confidential bank information is processed and handled in a secure manner and environment

Completes special projects, as assigned by Manager

Provides administrative and operational support to lending personnel, including clerical duties, related to loan closing and funding, weekly construction draw administration with subsequent loan advances and borrowing base tracking

Responsible for loan (relationship) exception tracking, identifying, curing and evidencing with proper file documentation

Manages local online file storage and document management (i.e., OnBase)

Maintains corresponding insurance files for all borrowers and loans (including, but not limited to, Builder's Risk and General Liability policies)

Assists with field audits as it relates to collateral monitoring, as requested

Reviews and balances HUD-1 closing statements for verification of accuracy; approves funding disbursements and initiates initial funding wires, etc

Reconciles, verifies and implements monthly unit interest billings for applicable Guidance Lines of Credit

Prepares annual property tax payment audit

Reviews, balances and maintains record-keeping for all legal and professional billings, including timely submission for payment, and obtaining appropriate approval documentation for all expenditures

Facilitates recommendations to divisional management for policy inconsistencies and recommends revision implementation

Communicates status of loan portfolio to management, including level of exception reporting, past due collections and loan maturity management

Oversees daily teller drawer; loan disbursement balancing and management

Adhere to bank policies and procedures designed to comply with federal regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act and OFAC regulations

Qualification

Business lending terminologyLoan processing experienceDocument managementCustomer serviceOrganizational skillsCommunication skills

Required

Bachelors Degree, or High School equivalent plus relevant experience

A strong understanding of business lending terminology is required

Ability to comprehend business loan supporting data and related data, including appraisals, environmental reports, title reports, borrower structures, leases

Ability to organize and prioritize work assignments in a consistent manner to ensure timely and efficient production

Ability to deal effectively and professionally with internal and external customers