WILDWOOD, MO
Order: 1258391
A commercial loan processor assists loan officers in preparing and finalizing business loans by handling administrative tasks, ensuring all documentation is complete and accurate, and coordinating with various parties involved in the transaction. Key duties include assembling loan application documents, verifying information, ensuring compliance with bank policies and regulations, and managing communication with customers and third parties like title companies and appraisers.
Key responsibilities
- Application and document processing: Preparing and processing loan applications, ensuring all required forms and disclosures are sent to the applicant, and assembling documents for loan closings.
- Documentation and file maintenance: Collecting and organizing loan documents, maintaining the commercial loan filing system, and creating files for closed loans.
- Information verification: Running credit reports, verifying data accuracy, and confirming that all conditions required by the underwriter are met.
- Coordination and communication: Liaising with loan officers, customers, underwriters, title companies, attorneys, and other departments to resolve issues, obtain missing information, and coordinate the closing process.
- Compliance and accuracy: Ensuring all loan processing activities comply with bank policies, procedures, and applicable state and federal banking regulations.
- Ancillary tasks: Ordering third-party services like flood certifications, appraisals, and title insurance.
- Reporting: Preparing and tracking loan pipeline reports and other summaries of data.