What are the responsibilities and job description for the Commercial Real Estate Loan Coordinator position at First Business Bank?
Join the winning team at First Business Bank as the Commercial Real Estate Loan Coordinator!
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At the heart of First Business Bank, we believe success comes down to putting people first. Our people are our priority — they embody ambition, experience, and client focus. The result is extremely engaged employees who provide unmatched client satisfaction. With comprehensive total rewards to support our team members, a commitment to valuing each other’s differences, and a focus on improving our communities, we are confident you’ll find the experience is your advantage. We’re delighted you’re considering joining us!
OVERVIEW
Work Model: Onsite at our Madison, WI location with the option of remote work one day/week.
The Commercial Real Estate Loan Coordinator is a key contributor in servicing the overall commercial loan portfolio and supports multiple Bankers in a timely, accurate and concise manner to ensure client deadlines for commercial loans are met. An expeditor who can effectively multi-task to achieve multiple, various, moving deadlines, the incumbent understands both the renewal process and clearing exceptions.
Specifically, as the Commercial Real Estate Loan Coordinator you will
Loan Coordination (New, Renewal, Modification of Terms) (40%):
- Professional support teamed with multiple Loan Officers within a Region or cross Regionally.
- Uses Bank’s loan origination system to start/route new, renewal and modification of terms applications for decisioning and documentation.
- Post approval and prepare, own, or supplement loan closing checklist of items needed, quickly reviews checklist items for accuracy when received from others and is capable of handling unanticipated changes.
Construction Draw Coordination & Servicing 20%
- Creates, manages, and monitors draw process and procedures for all construction and leasehold improvement projects.
- Reviews pre-closing due diligence as it directly relates to project needs. Including, but not limited to construction contracts, plans & specs, budgets, and timelines.
- Responsible for submission of thorough and accurate draw packages for approval and funding.
- Ensures all necessary project inspections are scheduled, and inspection reports are received, reviewed, and filed appropriately.
- Works with title companies and/or the bank’s third-party monitoring companies to fund approved draw requests, collect lien waivers, endorsements and certifications as needed.
- Accountable for keeping projects in balance, monitoring change orders and identifying any potential project issues that may arise to cause the budget to be out of balance.
Exceptions (30%)
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Meets monthly with Loan Officer(s) to review file information needed at a minimum monthly:
- Request financial information needed to maintain compliance, via client portal or e-mail, securely.
- With knowledge of loan policy makes recommendations and prepares memos to waive or change reporting frequencies with approval from others.
Correspondence and Specialty Servicing (10%)
The successful candidate should have:
- Commercial loan documentation and servicing experience is required
- 5 years of banking experience required
- Experience in loan participation documentation and servicing is required
- Construction loan draw expediting and servicing is preferred
