Commercial Loan Processor

POSITION SUMMARY:
The Commercial Loan Processor is responsible for reviewing loan applications for completeness and accuracy, verifying supporting income, asset, and liability documentation. This position is expected to demonstrate a sense of urgency, willingness to work cooperatively with others, and be an effective team player whose primary focus is to assist the underwriter and production team. The Loan Processor is responsible and accountable for providing high quality service to our prospective and internal customers by following procedures and regulatory guidelines, giving special attention to communication, compliance, loan quality and timing. This individual also offers knowledge and expertise in being able to process other types of loans in the bank.

ESSENTIAL DUTIES AND RESPONSIBILITIES:
The essential job functions include, but are not limited to the following:

• Monitors and tracks the loan pipeline.
• Prepare “Needs List” upon review of the loan terms and relevant information received.
• Create positive customer experience by effectively communicating needs list, timelines, and funding requirements.
• Gathers the necessary paperwork and documentation required to make a complete loan file.
• Review all loan documentation to ensure completion, accuracy, and the verification of the compliance of company policies and procedures.
• Adheres to all regulatory requirements.
• Request and/or run reports from third party agencies and conduct thorough review of all information to identify potential risks (i.e. credit, OFAC, Lexis Nexis, UCC search, Flood Determination Certificate, Tax Verification)
• Escalate issues which may impact loan funding or perfect collateral position.
• Effectively communicates with external and internal customers relative to the loan process to meet deadlines.
• Maintain and update the bank’s internal loan processing system which includes data fields, transactional documentation, and notes.
• Submit complete loan files for underwriting.
• Upon receipt of loan approval, draw loan documents, review loan documents for accuracy and coordinate signature approval.
• Prepare a loan document for closing and coordinate with all necessary parties involved for funding.
• Provide closed loan file to be boarded and complete the post-closing requirements.
• Create ticklers for post-closing items, follow for receipt. (i.e. final title policy[ies] and recorded documents)
• Review final title policy(ies)
• Review and approve loan journals, review wire information input.
• Assist other loan processors as needed.
• Mentor and train new Loan Processors
• Backup in other specialized business units when needed.
• Other responsibilities as assigned.

QUALIFICATIONS (Education, Knowledge, Skills, and Abilities):

• Associates degree in economics, business administration, finance, accounting, or a related field.
• Good financial analytical abilities, detail orientation, and commitment to producing quality work products.
• Two years or more of experience with loan processing and closing or related experience. The background must include business loans, plus CRE and/or multifamily loans.
• Excellent oral and written communication skills in the English language.
• Experience using Microsoft Windows, Microsoft Word, Microsoft Excel, Microsoft Outlook, and Adobe Reader. Familiarity with Office 2010 and Windows 7 are pluses but are not required.
• Bilingual in Mandarin is a plus.

PHYSICAL DEMANDS AND WORK ENVIRONMENT:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit, use hands, fingers, handle, or feel; reach with hands and arms; talk and hear. The employee is frequently required to sit, stand and walk. The employee may occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, color vision, and ability to adjust focus. The noise level in the office work environment is usually moderate.

NOTE:
This job description is a summary of the job duties and requirements that are essential to the evaluation of the job. It is not intended to be complete in detail. These responsibilities are typical for this job; however, on occasion, individuals in this position may be required to perform functions of a higher or lower skill level not included in this job description.

Universal Bank is an Equal Opportunity Employer.
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