What are the responsibilities and job description for the Commercial Loan Processor II position at A+ Federal Credit Union?
Commercial Loan Processor II
Job Type: Full- time/ Hybrid
Exemption Type: Non- exempt
Wage Amount: $28.57 per hour minimum
Primary Functions
The primary purpose of this position is to provide outstanding internal and external (team) member service by providing a variety of loan funding support services to the business lending membership. You will be responsible for the processing of commercial loan files from approval to closing of the transaction, including extensive collection and tracking of sensitive financial documents.
You will collect and verify purchase contracts, title work, appraisals, income, credit, asset, and loan disclosure documentation and ensure file completeness while working with underwriters, loan officers, members, and other credit union departments daily. This role requires a strong focus on member service, file accuracy, turn times, and problem-solving skills to resolve any issues with loan files.
This role will also serve as a subject matter expert for commercial loan processing and support training and coaching of Level I team members.
Essential Duties and Responsibilities
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Answer all incoming phone calls regarding commercial loan processing questions relating to new applications and coordinating and closing of new loan requests and loan renewals.
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Assist branch staff and other credit union departments with commercial loan closing questions.
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Obtain necessary information from members, CUSO (Credit Union Services Organization), or outside sources.
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Review loan applications for accuracy and completeness and verify all applicable information, including rates and terms.
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Review company agreements and other entity documentation to appropriately capture signatures on borrowing authorizations.
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Independently prepare loan documents, coordinate loan closings, fund and book loans for non-complex transactions.
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Assist with loan documents, closings, and funding for complex transactions such as portfolio loans or complex entity structures.
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Independently review real estate documentation including warranty deeds, title commitments, and closing statements.
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Communicate with members, dealers, title companies, and realtors as needed regarding loan closing processes and policies.
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Manage personal commercial loan pipeline in accordance with process flow expectations, including meeting closing dates and communicating with members, team members, and third parties associated with loan files being processed.
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Order, review, and clear conditions on all real estate appraisals, title commitments, tax valuations, insurance, flood determinations, surveys, and payoffs.
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Identify, prepare, and validate all fees associated with processed loan files to ensure accurate and compliant preparation of loan documents.
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Work with loan officers and members to clear all conditions and outstanding items prior to requesting clear to close.
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Independently monitor and track application flow from member to loan officer to closing and funding.
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Collect signatures for loan closings via mail or DocuSign and coordinate with mobile notaries as needed.
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Create and fund loans and disburse loan proceeds by wire, cashiers check, or share deposit.
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Prepare title work packets for all vehicle loans and file UCC liens when applicable.
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Ensure loan packets and supporting documentation are filed in the imaging system.
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Complete quality control audits of closed loans.
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Assist with set up and implementation of new products and processes utilizing technology.
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Provide routine information, in person or by phone, concerning credit union services or policies.
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Make override or exception decisions for non-complex situations within established guidelines and procedures.
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Assist leadership team with resolving problems and triaging complex situations.
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Assist with training and basic coaching of Level I team members.
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Assist with leading team huddles and meetings.
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Work toward advanced knowledge of complex processing functions including commercial real estate loan documents and disclosures, federal and state regulatory requirements.
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Consistently meet or exceed Level II minimum expectations.
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Maintain job-level knowledge by attending assigned training and reviewing procedures to perform all duties required of the position.
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Participate in departmental projects and initiatives.
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Complete annual regulatory training as assigned.
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Conduct individual dialogues with immediate supervisor, minimum quarterly.
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Perform other duties as assigned.
Education and Experience
- High school diploma or G.E.D. equivalent required.
- Bachelors degree preferred.
- Four years of financial institution experience required, including two years of lending experience.
- Two years of commercial loan processing experience required, including real estate loans.
- Additional specialized or technical training in mortgage or commercial loan processing preferred.
Knowledge, Skills & Abilities
- Strong knowledge of commercial lending products, procedures, policies, and laws.
- Strong knowledge of commercial loan processing, preparing and reviewing loan documentation including appraisals, title work, tax valuations, insurance, surveys, and payoff letters.
- Strong understanding of loan structures and documentation for commercial real estate, secured, and unsecured loans.
- Strong knowledge of NCUA regulations and guidance for commercial and member business loans, and federal lending regulations including HMDA, ECOA, and RESPA.
- Basic knowledge of Small Business Administration (SBA) lending programs, products, and processing.
- Excellent verbal and written communication skills.
- High level of professionalism, diplomacy, courtesy, and tact.
- Comprehensive math skills and excellent computer skills, including MS Office Suite experience.
- Ability to work independently and as part of a team, with flexibility to adapt to change.
- Problem-solving skills, ability to research and interpret information, as well as manage conflict.
- Working knowledge of Symitar Quest, including posting transactions.
Physical Functions
- Must have the ability and stamina to work at least 40 hours per week.
- Will frequently reach, feel, bend, stoop, carry, finely manipulate, and key in data.
- Must be able to communicate extensively through telephone, email, and in-person communications.
- Must be able to engage in problem-solving skills to help identify and resolve potential issues in the field