Commercial Loan Specialist

Salary Range: $25.72 - $28.91

PRIMARY RESPONSIBILITY:

The Commercial Loan Specialist is responsible to mitigate operational and transactional risk by ensuring that accurate loan and collateral documentation is in place by performing the duties as outlined in this job description:

 

ESSENTIAL FUNCTIONS:


* Complete pre-closing due diligence such as flood certification reports, appraisal/environmental report engagement and review, title searches, department of state entity searches etc.

for commercial and retail loans.

Ensure receipt of applicable business documentation, proof of insurance, etc.

where applicable. 


* Obtain, review and verify all necessary information to prepare SBA or other special lending program applications to ensure completeness and accuracy of all information as well as compliance with the SBA standard operating procedures or other program guidelines as applicable.


* Prepare loan documents for commercial closings in accordance with underwritten approval and GRB lending policy.


* Prepare, package, process and close SBA and other special lending program loans.


* Conduct pre-closing review of peer prepared or outside counsel prepared commercial loan documentation to ensure accuracy and completion.


* Coordinate commercial loan closings with outside counsel when applicable.


* Review of Loan Participation Agreements prior to bank’s engagement.


* Perform post-closing duties including processing of loan proceeds disbursements upon approval, UCC/lien filings, notifications to tax monitoring service, insurance companies, etcetera.


* Perform post-closing verification to assure that commercial and retail loan pending items and exceptions were set up on the loan operating system correctly and documents were appropriately scanned/indexed for permanent record keeping.


* Assist with commercial loan attorney package verification/review post-closing.


* Review and process commercial construction draws.


* Monitor commercial construction loans for pay down requirements, lot releases, etcetera.


* Assist with letter of credit renewals, including obtaining renewal from the beneficiary and tracking and reporting those letters of credit for renewal.


* Prepare release of collateral for approval, including lot releases, mortgage discharges, termination of tax monitoring service, etcetera.


* Prepare and update collateral monitoring reports including the margin loan report, collateral and loan document exceptions, etc.


* Assist with the follow-up and clearing of loan collateral and documentation exceptions and pending items.


* Assist the Commercial Loan Specialist Team Lead with reconciliation of the commercial payables general ledger account, lien filing continuations and monthly and daily reports.


* Assist Loan Operations to ensure integrity of loan and credit file information in all banking systems.

Prepare and submit loan maintenance requests as applicab...