What are the responsibilities and job description for the Loan Processor position at Commercial Banking Company?
General Description
Oversees the loan process from customer to closing and works closely with lending officers to ensure a smooth production process.
RESPONSIBILITIES
- Responsible for processing all loan requests, which includes but not limited to, preparing early disclosures, all necessary loan documents, , obtaining flood data, verifying information given by lender, completing general ledger entries, booking loans, and maintaining loan files.
- Review loan application package and elevate concerns related to incomplete or incorrect information.
- Accountable for preparing TRID / RESPA early disclosures and loan documents.
- Prepare security deeds, deed modifications and HELOC deeds and send for recording.
- Follow up with attorneys for Final Title Opinions or Title Insurance and request recorded deeds.
- Prepare Estoppel letters, attorney letters / payments, loan proceed checks, debt consolidation checks, note and deed modifications, and payment extensions.
- Research state internet site for recorded Deeds, Cancellations, Quitclaims, and UCC's.
- Verifies Business Entity Information, which includes but not limited to, Partnership Agreements, LLC Operating Agreement, Corporation By-Laws, Corporation Certificates of Title, Articles of Incorporation, and Corporate Resolutions.
- Follow Beneficial Owner requirements for Business Entities.
- Works closely with Attorneys on real estate closings, order Title Opinions, and prepare / review Closing Disclosures.
- Order and maintain the appraisal files, ensure payment, and balance monthly.
- Protect the assets of the bank by verifying approval of loan exceptions and elevating those without proper approval to supervisor.
- Process letter of credit requests and maintain the letter of credit file, ensure proper tickets have posted, and balance monthly.
- Verify property tax and insurance have been paid and all loan collateral documents are in file.
- Prepare escrow account disclosures, process annual analysis statement, and prepare disbursements.
- Complete required HMDA documents and review file for proper documentation.
- Prepare participation loan document packages for purchased and sold loans.
- Process Non-Originated Loan Packages.
- Maintain collateral vault documents and place required holds.
- Complete E-Oscar disputes.
- Prepare MV1's and process electronic title liens.
- Assist in Operations Department with various tasks including exception management, research, statements, and customer service.
- Assist other Loan Processors as needed.
- Perform various tasks as assigned by supervisor or lending officer.
- Maintains knowledge of bank policies, procedures, and operational processes.
Commercial Banking Company is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to age, race, gender, sex, religion, national origin, disability, genetic information, sexual orientation, gender identity, pregnancy, veteran status, or any other characteristic protected by local, state, or federal law.
REQUIRED SKILLS, EXPERIENCE, AND EDUCATION
All applicants must be able to pass the following screens :
