What are the responsibilities and job description for the Commercial Loan Processing Specialist position at Wilson Bank & Trust?
Commercial Loan Processing Specialist
Work Location: Hybrid | Lebanon, TN
Job Summary:
The Commercial Loan Processing Specialist is responsible for facilitating accurate loan processing and closings, as well as providing support to the lending team for commercial loan requests. This role involves data entry, document verification, preparation of loan documentation, coordinating with external partners, and collaborating with lenders to ensure a seamless lending process for the customer and all parties.
Job Duties and Responsibilities:
- Research a received loan request for proper approval and regulation guidelines
- Review items as they are received from lending staff for accuracy including approval limits, LTV, lien position, insurance requirements, collateral perfection, and other underwriting criteria
- Data entry into Loan Origination System for commercial real estate loans as well as other large dollar amount loans including Letters of Credit, Change-In-Terms, and SBA loans
- Order appropriate vendor items to include appraisal report, flood determination, title search, and any other needed items per Bank policy
- Read and understand the title opinion/title commitment, appraisal report, and other documentation to identify issues prior to closing
- Work with lenders, vendors, compliance, and management to resolve any issues prior to finalizing closing documents
- Assemble and verify accuracy and completeness of related documents
- Provide complete closing package to attorney and/or lender
- Responsible for funding loans after closing
- Adhere to compliance with all federal bank regulations and laws, including those for consumer protection and the Bank Secrecy Act/Anti-Money Laundering Program
- Other duties as assigned
Required Qualifications:
- High school diploma or GED
- Previous experience in a loan or lending-related role preferred
- Banking experience preferred
- Solid written and verbal communication skills
- Strong knowledge of banking laws relating to contracts with individual or corporate customers and the implications of those laws
- Strong knowledge of corporate structure and business entity details and relation to Beneficial Ownership
- Strong knowledge of all aspects of real estate lending, documentation, UCC-1 law, and lien perfection for various collateral types
- Proficiency in computer system skills, with specific expertise in documentation and loan processing
- Strong time management and prioritization skills to manage multiple tasks effectively
- Ability to recognize and communicate opportunities for improvements in efficiency
- Proficient Microsoft Office skills
