What are the responsibilities and job description for the Loan Origination Specialist position at Carver Federal Savings Bank?
Loan Origination Specialist (Exempt)
Department : Loan Administration Department
Reports : Loan Administration Manager
Position Summary
The Loan Origination Specialist is responsible for all administrative aspects of originating loans and onboarding purchased loans. This role ensures that loan data is collected and accurately entered into the Carver’s loan origination database and loan documents are collected and compiled into loan files in accordance with Carver’s standards. Additionally, the position will assist the Loan Administration Manager with projects and management of non-direct report staff as requested. Key internal partners include the Loan Operations, Lending, Portfolio Management, Audit, and Compliance departments.
Essential Duties and Responsibilities
Loan Origination (60%)
Collect loan submission paperwork (including the loan data intake form) from Loan Officers
Enter loan data (including HMDA / CRA data) into databases (LaserPro, Premier, Sageworks, and / or DMI) for all new loans, refinances and renewals
Prepare and execute loan file document checklists for all loan originations
Gather all loan documents and prepare loan files (both hard copy and digital)
Process good faith deposits and disbursements of these deposits, and maintain receipts
Generate and deliver third party credit reports
File UCC-1 and UCC-3 paperwork for assignments and terminations
Perform CIP and CDD and validate prerequisites before closing a loan
Supply BSA Department with CIP customer information, i.e., OFAC, Applications, ID’s and loan documents
Generate adverse action and declined loan letters for Commercial and Retail loan requests
Submit check requisitions to Accounting for payment to various third party vendors
Transmit legal documents to DMI for certain new loans
- Ensure new loan files are prepared for FHLB pledging (when applicable) and enter data into FHLB database. Manage the pledging process, review documentation, submit loans, track collateral position at FHLB.
Onboarding Other Loans (15%)
Enter loan data for purchased loans into loan databases (DMI, LaserPro, or Sageworks)
Prepare loan file document checklists for loan pool purchases and other tasks, including :
File ordering and stacking
Compliance and Other Duties (25%)
Perform pre-closing review of loan settlement disbursement agreement and CAM
Review loan files for completeness and accuracy prior to closing
Support the Lending, Compliance, Credit, Portfolio Management, and Loan Workout departments as requested
Contribute to loan servicing and assist the Loan Servicing Specialist as needed
Qualifications / Requirements
Minimum Associates Degree or equivalent related business experience
Minimum of 5 years experience in loan origination or administration
Strong communications skills and the ability to communicate effectively verbally and in writing
Excellent organizational, time management, and analytical skills
Strong attention to detail
Able to read and understand credit approval terms and conditions
Knowledge of commercial real estate, construction, business, SBA, residential and consumer mortgage loan processing and loan documentation
Knowledge of lien perfection and collateral release processes
Knowledge of State, Federal and general banking compliance requirements and regulations
Knowledge of Fiserv, EasyLender and Sageworks loan systems
Excellent Microsoft Excel & Word skills
Familiarity with all phases of loan processing