Loan Operations Processor

OVERVIEW:

Under the direction of the Loan Operations Manager, this position is responsible for the processing and filing new/renewal loan documents, construction advances, and loan payments, as well as the preparation of Board/Management reports and credit/collateral/policy exception tracking. Position involves providing quality and efficient services for these functions to ensure that the loans are processed with minimal errors and within a timely basis, and to provide support to the other lending areas of the Bank.

JOB RESPONSIBILITIES:

• Perform procedures related to advances and pay downs, release liens, funds wiring as part of the disbursement and payoff process. Record UCC3 continuation, assumed name, modification, etc.
• Funding/processing new/renewal/modification loans, and applying payments onto the core system. 
• Creating new files, scanning and filing documents
• Tracking and monitoring the credit, collateral, and insurance and exceptions. Force place insurance on non-insured properties, and paying the monthly billing for single interest insurance policies.  
• Responsible for the construction draw activity process, includes ordering inspections, tracking and processing of draw requests. Verifying signatures and dates on all draw requests to mitigate fraud. Notifying the borrower, contractor and inspector of any discrepancies or missing items within particular draw requests. Reviewing the draw file in preparation for final close out – proper stacking order of documents and balancing the loan to ensure loan is not overdrawn. Prepare checks and wires for approved draw requests.
• Verify corporate status online and scan evidence of such status into the file on an annual basis.
• Maintain insurance and real property tax escrow, and monitor paid tax receipts on real estate loans. Reconcile escrow reports.
• Reconcile Other Liability Account and Balance report, as well as the Loan Account Reconciliation Report (monthly). Verify daily loan clearings, and processed loan payments.
• Prepare weekly New and Renewed Loan reports, and other monthly/daily loan reports as assigned.
• Process and deposit payments from borrower for 3^rd party vendor services. Prepare and mail checks for loan expenses to 3^rd party vendors, such as appraisals, environmental reports, SBA fees, etc.  
• Maintenance and update core system with modifications and changes to loan status.
• Send out letters and notices for payments, insurance and tax receipts.
• Assist examiners and auditors by providing requested documents and files as required.
• Maintain proficiency and with the latest knowledge in the E-Tran systems, Lending Policies and Procedures, core systems, federal regulations, and the SBA SOP.