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2 Loan Documentation Specialist Jobs in Trenton, NJ

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CREDIT UNION OF NJ A FEDERAL CREDIT UNION
Trenton, NJ | Full Time
$45k-56k (estimate)
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First Bank - NJ
Trenton, NJ | Full Time
$42k-54k (estimate)
8 Months Ago
Loan Documentation Specialist
First Bank - NJ Trenton, NJ
$42k-54k (estimate)
Full Time | Banking 8 Months Ago
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First Bank - NJ is Hiring a Loan Documentation Specialist Near Trenton, NJ

Our goal is to hire and retain talented people with engaging personalities and exceptional work ethics. We believe in recognizing and rewarding employees who consistently perform at a high level.

We offer competitive salaries based upon experience and a comprehensive benefits package upon satisfying eligibility conditions, including health and dental insurance, life insurance, short term and long term disability, and the Bank's 401k Plan.

Position Summary:

The Loan Documentation Specialist I receives and performs a review of loan packages submitted by loan administrators when requesting in-house loan documents. Loan documents must be prepared in accordance with loan approvals, regulatory requirements, and Bank policies and procedures. The Loan Documentation Specialist conducts a review of prepared loan documents to ensure all terms and conditions match what was approved. Once a review is conducted, final loan documents may be released to the loan administrator and/or Relationship Manager. To achieve success, an individual must be able to perform each essential duty listed below with a high degree of proficiency and understanding of loan documentation requirements.

Essential Duties & Responsibilities:

  • Prepare in-house loan documentation for new loans, extensions, renewals and modifications
  • Accurately analyze loan structure for loan requests as per Presentation for Approvals (PFA)
  • Analyze pre-closing checklists and documentation provided by the Loan Administrator
  • Review type of collateral being taken by the Bank for appropriate documentation and ensure Bank's ability to perfect its required lien position
  • Ensure all formation documentation such as Articles of Inc., Certificate of Formation (for LLC's), Files LP-1 (for Limited Liability Partnerships), By-Laws, Operating Agreements, Partnership Agreements and Certificates of Trust, etc., is provided in the loan file, as applicable
  • Input information to Compliance One Lending platform per Presentation for Approvals, New Loan Pre-Closing Checklist and Entity Formation Documents
  • Prepare legal documentation for internally prepared loan documents as indicated to perfect security interests for all commercial loan closings to ensure compliance with State Laws and Bank Policy
  • Review draft loan documents prepared by co-worker for accuracy and completeness
  • Provide final approved loan documentation packages to the Loan Administrator and/or Relationship Manager for execution
  • Research outstanding items listed on the Collateral Exception Report as time allows
  • Any additional duties as assigned

Job Requirements

  • Two- or four-year college degree or prior legal background in a loan closing environment
  • Minimum of three years lending experience and training
  • Knowledge of current bank regulatory compliance
  • Experience with commercial collateral lien requirements
  • Knowledge of Mortgages, Assignments, Subordinations and Entity documents and structure
  • Reasoning skills necessary to solve problems and interpret a variety of instructions
  • Ability to prioritize and complete multiple tasks within established time frame, concentrating on quality in a fast-paced work environment
  • Provide quality service while maintaining, foremost, compliance and the Bank's best interest
  • Strong leadership qualities which include the ability to collaborate and work effectively with all levels of the bank.
  • Proficiency with Microsoft Word, Excel, and Outlook, with the ability to learn the Bank's computer-based systems

First Bank is an EEO/AA Employer, M/F-Disabled-Veteran and LGBTQ can apply to our company for employment opportunities.

Job Type: Full-time

Pay: From $50,000.00 per year

Benefits:

  • 401(k)
  • 401(k) matching
  • Dental insurance
  • Health insurance
  • Health savings account
  • Paid time off
  • Vision insurance

Physical setting:

  • Office

Schedule:

  • 8 hour shift
  • Monday to Friday

Work Location: In person

Job Summary

JOB TYPE

Full Time

INDUSTRY

Banking

SALARY

$42k-54k (estimate)

POST DATE

10/11/2023

EXPIRATION DATE

07/02/2024

WEBSITE

firstbanknj.com

HEADQUARTERS

ROBBINSVILLE, NJ

SIZE

100 - 200

FOUNDED

2007

CEO

RYAN K MANVILLE

REVENUE

$50M - $200M

INDUSTRY

Banking

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First Bank - NJ
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First Bank - NJ
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The following is the career advancement route for Loan Documentation Specialist positions, which can be used as a reference in future career path planning. As a Loan Documentation Specialist, it can be promoted into senior positions as a Document Control Assistant III that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Loan Documentation Specialist. You can explore the career advancement for a Loan Documentation Specialist below and select your interested title to get hiring information.