What are the responsibilities and job description for the SBA Loan Processor position at MRINetwork?
Immediate opening for an SBA Loan Processor with a very successful regional financial institution. National SBA lender with PLP status. Excellent senior management team that is committed to supporting the back shop operations.
The SBA Loan Processor, verifies and compiles application information for SBA loans by performing the following duties. Assures compliance with all Bank policies and procedures, as well as, all applicable SBA, state and federal banking regulations.
Responsibilities
The SBA Loan Processor, verifies and compiles application information for SBA loans by performing the following duties. Assures compliance with all Bank policies and procedures, as well as, all applicable SBA, state and federal banking regulations.
Responsibilities
- Compile and scan all credit, financial and documentation files.
- Open Escrow/Order Preliminary Title reports.
- Order all third-party vendor reporting needs including, but not limited to Flood Certifications, business & personal credit reports, UCC Searches, 4506 Tax Transcripts.
- Request SBA loan authorization through eTran or other means.
- Submit and coordinate SBA loan submissions, including application input through E-tran
- Prepare loan docs through LaserPro and Lending Solutions and review to ensure accuracy.
- Manage loan pipeline and provides timely follow-up with key internal and external parties.
- Reviews loan application file to verify that application data is complete and meets establishment standards, including type and amount of loan, borrower assets and liabilities.
- Verifies accuracy of information provided.
- Works closely with all parties to assist in timely processing, credit approval, and closing of new loan requests.
- Works closely with the Loan Operations Funding Department to ensure SBL procedures are followed in the closing and funding of the loans.
- May be asked to provide secondary support for various SBA loan servicing and liquidation activities including preparing documentation required to liquidate loans including default letters, requests to file Notices of Default and coordinates guaranty repurchase with SBA.
- Minimum 5 years’ experience as a loan processor and servicing SBA loans.
- Knowledge of all required financial and collateral documentation for various loan types.
- Knowledge of various legal entity borrowing structures such a Limited Liability Companies, Corporations, Partnerships, Tenant in Common structures, etc.
- Knowledge of required reviews and verifications through the Secretary of State, etc. and the type of entity documentation required for each type.
- Knowledge of Flood Insurance Compliance and required documentation. Knowledge of Environmental Reports such as EDR and Phase I.
- Knowledge of all related compliance concerns for Income Property lending, including, but not limited to Reg. B monitoring, Withdrawn and Declined Procedures, etc.
- Knowledge of Loan Closing processes and required documentation
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