What are the responsibilities and job description for the Commercial Loan Processor position at Adaptive Solutions Group?
Responsibilities:
- Review and verify loan applications and supporting documentation to ensure accuracy, completeness, and compliance with internal policies and regulatory requirements.
- Coordinate with clients, loan officers, and third parties (such as appraisers, title companies, and insurance providers) to gather necessary documentation and ensure timely processing of loans.
- Prepare loan files for underwriting and approval, ensuring all documentation is accurate and in line with company policies and procedures.
- Conduct thorough due diligence, including verifying borrower financial information, credit history, and business details to assess risk and loan eligibility.
- Maintain and update detailed records of loan applications, processing status, and communications with clients and stakeholders in the company’s loan management system.
- Communicate effectively with clients to gather additional documents or provide status updates on their loan applications.
- Ensure that all required loan documents, including loan agreements, collateral documents, and legal forms, are complete, accurate, and compliant.
- Work closely with the underwriting team to address questions or provide any additional information needed for loan approval.
- Assist in preparing loan closing documents and facilitate the closing process, ensuring a smooth transition from approval to funding.
- Stay up-to-date with changes in commercial lending laws and regulations to ensure compliance and mitigate risk.
- Provide excellent customer service by addressing client inquiries and resolving any issues promptly.
- Assist with the ongoing maintenance of loan files after disbursement, including processing any required changes or amendments.
