Summary: Support Commercial Lenders with loan processing.Prepare closing documents in compliance with established policies. Promote collaborative working relationships with attorneys, closing agents, vendors, and borrowers.Responsible for timely and accurate disbursement of loan proceeds.

Essential Duties and Responsibilities include the following. Other duties may be assigned.

§Adhere to ECU policies and guidelines.

§Maintain expert knowledge of Business Services policies, guidelines, products, and procedures related to business loan processing.

oEastman Credit Union offers a variety of business loan products, including but not limited to, Real Estate secured loans, Auto and Equipment loans, Business Visas, unsecured loans, Lines of Credit, and Letters of Credit.

§Maintain working knowledge of regulatory compliance applicable to business loans. Including but not limited to:

• ECOA (Equal Credit Opportunity Act)- Regulation B
• HMDA (Home Mortgage Disclosure Act)- Regulation C
• Flood Disaster Protection Act
• State specific laws and regulations.

§Maintain comprehensive knowledge of business entity types and legal structures.

oReview state filings to confirm proper formation and active status.

oReview entity documentation to confirm proper structure and authorities.

oConfirm and draft proper signature blocks for loan documentation.

§Assemble and maintain credit and collateral files.

oUtilize processing checklists to ensure all application, financial, non-natural person entities, and collateral documentation is included in file.

oReview documentation for accuracy and completeness. Identify missing documentation and confirm documentation matches information entered in loan origination system.

oMaintain pending and incomplete files, ensuring files are accessible and organized in the proper file location during the loan process.

§Work with attorneys / closing agents, collateral valuation, service providers, and borrowers to close loans in a timely manner. Show professionalism and courtesy.

§Develop expert knowledge of MBL loan documentation software. Input data accurately and timely.

§Monitor pipeline for timely processing. Maintain logs and tracking reports on MBL activity.

§Follow Customer Identification Program (CIP) standards.

§Process member business loans which include:

oKeep track of appraisal engagements.

oPreparing attorney instruction letters and ordering title work.

oOrdering formation documents and certificates of good standing.

oOrdering UCC searches.

oProcessing accounts payable items.

oObtaining evidence of insurance, verifying sufficient coverage and deductibles with proper parties insured based on ECU guidelines.

oReviewing title commitments or title searches upon receipt from title company. The review of Title Commitments includes, but is not limited to:

§Vesting Information - correct ownership listed

§Loan Amount is listed correctly.

§Property Tax Information is listed.

§Review Exceptions – ensure that non-standard exceptions are either cleared or approved by Management.

oPrepare initial Escrow analysis for loans that require impounds for taxes and or insurance.

oReview loan request to ensure product specific items are correct.

oEnsure underwriting conditions have been met.

oEntering loan information into nCino and loan documentation software.

oPrepare and deliver appropriate loan documentation including resolutions, promissory notes, guaranties, mortgages, assignments of rents, security agreements, Uniform Commercial Code (UCC) filings, noting of liens, business loan agreements and loan covenants, and other documents as needed to closing agent.

§Make changes approved by Management and Legal Counsel to loan documents.

oProvide loan fees to closing agent.

oProvide loan disclosures, as applicable.

§Fund member business loans which include:

• Educate new closing agents of ECU funding processes.
• Review settlement statements prior to closing to ensure all fees are accurate.

oVerify wire amounts and wire instructions. Send wires to closing agents.

oInput loan data in core system. Input specific MBL monitoring data for waiver and loan classification tracking.

oUtilize funding checklists to ensure all parameters of loans are entered correctly based on approved credit memorandum and commitment letters.

oInput escrow data in core system.

oEnsure member funds are appropriately distributed and deposited.

oDistribute ECU fees to the applicable general ledger, third parties, and defer fees/costs.

§Post-Funding member business loans which include:

• Perfect lien position with proper filings applicable to collateral types.
• Ensure that final documentation and information required to support MBL credit transactions are included in the loan file.

§Follow up with Title Companies to ensure documents were recorded properly and Final Title Policies are correct.

§Follow up on missing documents or document exceptions; ensuring file is complete and ready for audit in a timely manner.

• Forward completed files for quality control review and imaging.

§Prepare and assist in the closing of non-real estate secured MBLs.

§Prepare and mail business credit card approval letters and account agreements.

§Process loan workouts, modifications, extensions, and renewals

§Attend and participate in Team Meetings.

§Perform other duties as assigned from time to time.

§Assist and backup Business Services Servicing Assistant and other credit administration staff as requested.

§Demonstrate exceptional attendance and punctuality.

§Maintain strict confidentiality toward member information within ECU and as well as outside ECU.