Loan Operations Assistant

Job Title:              Loan Operations Assistant

Department:        Front Office Support Unit (FOSU) 

Classification:      Non-Exempt 

Summary/Objective:  

To support underwriters and account officers as well as the customers by performing the following administrative duties. 

Essential Functions: 

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 

1. Responsible for the periodical reports required by Head Office / Credit.
2. Prepare commitment letter once the loan is approved.
3. Prepare loan closing package including closing statement, CFTS, escrow instruction, automatic transfer form, and other form necessary for closing.  Work with loan operations department to ensure all required documentation for loan disbursement is complete. 
4. Coordinate loan closing with account officer, credit officer and loan operations department. Ensure all loan closings and bookings are completed timely and adhere to all the closing conditions.
5. Process documents received for each file, verifying the accuracy and completeness of each document.
6. File and close monitoring UCC-1 financing statement.  The UCC-3 continuation statement must be filed in the 6 months prior to a UCC-1 financing statement’s expiration.
7. Work with bank attorney on loan documentation for assignment / satisfaction of mortgage.
8. Create and organize the department folder in shared drive to manage all related working files. 
9. Order flood search, lien search for loan processing.
10. Assist with preparation of loan files and documentation requests for internal and external audits / exams.
11. Communicate with customers, insurance agents, co-workers and other individuals to answer questions or explain information.
12. Loan Document Preparation.
13. Manage on-line accounts including Equifax, Experian, and Flood Search. Grant authority to a new user when necessary.
14. Review of all invoices from the third parties service providers (CT Lien, Equifax, Wolter Klower, appraisal company & environmental service company).
15. Reconciliation of all fees related to commercial mortgage from our Accounting department.
16. All kinds of correspondence, financial statements, rent roll, personal financial statements, copies of checks, insurance, leases, CFTS, CPTS, Approval memos, memorandums, credit references, etc., must be scanned & saved in the “FOSU” shared drive under the Borrower’s folder.
17. Prepare and send out renewal insurance letters to agents and borrowers 
18. Closely monitor Borrower’s insurance policy/certificate to ensure that the policy is up-to-date and all terms and conditions are conformed with the loan agreement.
19. Collect financial information for annual review.
20. Reconciliation of all fees related to commercial mortgage from our Accounting department.
21. Miscellaneous tasks assigned by supervisor including but not limited to loan review, site visit, and etc.