What are the responsibilities and job description for the Loan Coordinator I position at THE FARMERS BANK OF WILLARDS?
Job Title: Loan Coordinator I
Location: Willards, Maryland
Reports To: Senior Vice President, Chief Credit Officer
Position Type: Full-Time
Job Summary:
The Loan Coordinator I coordinates the processing of commercial, consumer, agricultural, residential, and specialty loans from application through closing. This position prepares and reviews loan documentation, ensures compliance with bank policies and regulatory requirements, supports lenders and borrowers throughout the loan process, and works closely with third-party providers to deliver accurate, timely, and exceptional customer service.
Key Responsibilities:
Loan Processing & Documentation:
- Coordinate the processing of commercial, consumer, agricultural, residential, and specialty loan requests from application through closing.
- Work directly with borrowers and third-party providers to obtain documentation required for loan underwriting and approval.
- Prepare, review, and verify loan documentation for completeness, accuracy, and compliance with bank policies and regulatory requirements.
- Maintain organized loan files and ensure all required documentation is obtained prior to closing.
- Submit documentation requests to document preparation vendors and coordinate the receipt, review, and execution of loan documents.
- Order and track appraisals, title work, flood certifications, property reports, environmental reports, UCC searches and filings, credit reports, and other due diligence documentation required for loan files. Request insurance for new loan requests
Compliance & Risk Management:
- Ensure compliance with all applicable federal and state banking regulations, including but not limited to:
- Truth in Lending Act (TILA)
- Real Estate Settlement Procedures Act (RESPA)
- Flood Disaster Protection Act
- Bank Secrecy Act (BSA)
- Fair Lending Regulations
- Community Reinvestment Act (CRA)
- Other applicable consumer and commercial lending regulations
- Review loan documentation for regulatory compliance and accuracy.
- Maintain current knowledge of bank policies, procedures, and regulatory changes impacting lending operations.
- Assist with internal audits, external audits, regulatory examinations, and loan reviews.
- Work proactively to identify and resolve documentation deficiencies, exceptions, and compliance concerns.
Customer Service & Relationship Support:
- Serve as a primary point of contact for borrowers throughout the loan process.
- Communicate with customers regarding documentation requirements, loan status updates, closing requirements, and servicing requests.
- Coordinate with attorneys, title companies, appraisers, environmental consultants, and other third-party providers.
- Support lenders by providing administrative, technical, and operational assistance.
- Deliver exceptional customer service while ensuring compliance with established policies and procedures.
- Assist with problem resolution related to loan documentation, booking, servicing, and customer inquiries.
Reporting & Operational Support:
- Generate and maintain reports for lending management, executive management, and board reporting.
- Assist with exception reporting, document imaging, and loan tracking activities.
- Identify opportunities to improve loan processing efficiency, accuracy, and customer experience.
- Participate in process improvement initiatives and department projects.
- Support other lending and sales initiatives as assigned.
Education & Experience:
- Experience in loan operations, loan processing, loan documentation, credit administration, or related banking functions.
- Community banking experience preferred.
- Experience supporting commercial lending activities strongly preferred.
- Experience with loan origination, servicing, and documentation systems preferred.
Knowledge & Skills:
- Strong understanding of commercial, consumer, agricultural, and residential loan documentation.
- Knowledge of collateral perfection requirements, loan servicing practices, and lending regulations.
- Excellent organizational skills with strong attention to detail and accuracy.
- Ability to manage multiple deadlines and priorities in a fast-paced environment.
- Strong analytical and problem-solving skills.
- Proficiency in Microsoft Office applications, CRM systems, loan origination systems, and core banking platforms.
- Strong written and verbal communication skills.
- Ability to exercise sound judgment and maintain confidentiality.
- Ability to work collaboratively with customers, lenders, operations personnel, and third-party providers.
Work Environment:
- This role is typically performed in a corporate office environment, with the option to work remotely.
- May require occasional travel to other branches or locations.
- The role may involve extended hours during peak periods or special projects.
Salary and Benefits:
- Competitive salary based on experience and qualifications.
- Comprehensive benefits package including health insurance, retirement plans, bonuses, and paid time off.
Salary : $43,000 - $50,000