What are the responsibilities and job description for the Loan Processor position at Vantage Bank Texas?
Description
JOB CLASSIFICATION
Full / Part-time: Full-time
Hours Per Week: 40 hours
Location: 1801 S 2nd St, McAllen, TX 78503
JOB SUMMARY
The Loan Processor is responsible for the review and preparation of loan documents for real estate, non-real estate, commercial, consumer and SBA loans along with renewals, extensions and modifications. They review documentation for accuracy and ensure any exceptions are clear. The Loan Processor prepares all closing documents and ensures they are properly signed and prepared for funding and booking.
ESSENTIAL DUTIES
The duties listed below may not include all responsibilities that the person in this role may be asked to perform. Incumbent may be required to perform other related duties as assigned.
- Reviews and verifies the accuracy of all loan documentation based approvals bank’s loan policy.
- Ensures accuracy in real estate documentation, clearing liens on title policies and preparing them for proper recording. For non-real estate loans, verifies lien clearance and ensures timely recording.
- Confirms proper loan coding, policy adherence, and approval compliance.
- Reviews settlement statements and loan fees for accuracy. Prepares closing documents, ensure proper signing, and facilitate funding and booking.
- Verifies loan documentation aligns with approvals and bank policy, ensuring correct loan amount, terms, purpose, collateral, and disbursement.
- Processes internal documentation using Laser Pro when not attorney prepared.
- Prepares in-house loan documents and disclosures for closing.
- Assists loan officers in preparing necessary documentation.
- Maintains knowledge of UCC requirements for recording and releasing the bank’s liens.
- Completes administrative tasks timely and ensures policies and procedures are being followed.
- Familiarity with federal loan regulations pertaining to loan documentation which include, Reg B, CRA, Flood insurance and Reg Z.
- Ensures compliance with bank policies, state and federal regulations (e.g., BSA, CIP, and OFAC).
- Provides support to the loan operations manager as needed.
- Other duties as assigned.
Requirements
QUALIFICATIONS
These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.
- High school diploma, general education degree (GED), or equivalent required; Associates degree or higher preferred. OR a combination of equivalent, relevant work experience and/or training.
- Previous experience in credit or loan processing preferred.
- Basic knowledge of related state and federal banking compliance regulations, and other Bank lending policies.
- Basic knowledge of title policies and related loan regulations such as RESPA, HMDA and other Bank lending policies on loans to directors.
- Proficient computer skills with knowledge of Microsoft Office including, but not limited to, Word, Excel, PowerPoint, and Outlook, the Windows environment, and internet research skills.
- Ability to perform basic math calculations including calculating interest, commissions, balance accounts, compute rate, ration and percent.
- Excellent verbal, written, presentation and interpersonal communication skills.
- Excellent analytical, time management, organizational and problem-solving skills with the ability to multi-task and work in a deadline-driven environment.
- Ability to deal with difficult problems involving multiple facets and variables in non-standardized situations.
- Ability to work independently with minimal supervision while performing assigned duties.
- Current Texas driver’s license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.
EOE/M/F/D/V
BANK SECRECY ACT (BSA)
All employees of Vantage Bank Texas, herein referenced to as the “Bank”, must comply with the terms of the BSA Policy upon acceptance of this position. The primary responsibility for enforcement of this policy and its operating procedures rests with the BSA/AML/OFAC Officer. However, it is the responsibility of each employee to take the required BSA training modules and become familiar with and adhere to the Bank Secrecy Act, Anti Money Laundering and Office of Foreign Asset Control Policy
