Loan Processing Associate

Job Description:

POSITION SUMMARY

The Loan Processing Associate is responsible for providing quality customer service while processing loans through closing. The Loan Processing Associate will quarterback communication with clients, borrowers, government entities and other third parties (e.g., insurance agents, attorneys, CPA’s etc.), exercising discretion and judgment. This position includes required participation in and contribution to weekly departmental and pipeline meetings

ESSENTIAL FUNCTIONS and BASIC DUTIES

• Exhibit a detailed understanding, application and adherence to Loan Processing policies and procedures. Oversee and ensure policies and procedures are being followed in compliance with regulatory and company guidelines.
• Distribute, collect, and review loan application processing checklist to obtain SBA Authorization and loan closing.
• Exhibit in-depth understanding of SBA rules/regulations and develop an ability to utilize this knowledge to independently create unique solutions and thoughtful structures.
• Manage critical relationships with borrowers, financial intermediaries, lenders, Windsor management and the SBA throughout the loan lifecycle using effective communication with a high attention to detail.
• Distribution of Loan Application Processing Checklist
• Collection of all Loan Application Processing Checklist documentation
• Preparation of an accurate and comprehensive application package
• Submit signed packages to SBA via upload portal online
• Submit of 4506-T to the IRS and complete tax verifications upon return
• Order and review any necessary third-party reports as needed
• Effectively manage and interface with third party vendors
• Work with lender and borrower on SBA screen outs. Interface directly with SBA loan specialist staff
• Review SBA authorization once received and interface with lender’s closing counsel
• Special Projects assigned as necessary.
• Actively contribute in weekly Level 10 department meetings to identify, discuss, solve and implement department process improvements.

ADDITIONAL RESPONSIBILITIES

• Adheres specifically to all Company policies and procedures, Federal and State regulations and laws.
• Performs other duties as required.

Experience and Skills:

GENERAL QUALIFICATIONS

Knowledge Requirements:

Minimum Education/

Certification:

Bachelor’s degree in Finance, Accounting or a related field preferred.

Required Knowledge:

Knowledge of commercial loan products and basic accounting. A working knowledge of commercial credit principles and pertinent laws is preferred. Knowledge of computer systems as they relate to lending activities, including Microsoft Office Suite to include Word, Excel and Outlook is a must.

Preferred Knowledge:

Experience with SBA rules/regulations.

Experience Requirements:

Required Experience:

2 - 3 years related experience in administration, finance or similar industry.

Preferred Experience:

Experience managing multiple tasks while delivering highest levels of customer service with minimal supervision. Experience with loan processing and loan closings.

Skills Requirements:

Required Skills:

Advanced or expert level Excel skills required. Strong math and analytical skills. Excellent written and verbal communication skills. Ability to prioritize and meet deadlines.

Preferred Skills:

Physical Demands/Work Environment Requirements:

Vision, hearing, speech, movements requiring the use of wrists, hands and/or fingers. Must be able to sit, stand, stoop, and bend. A valid driver’s license is required. Must have the ability to work the days and hours required to fulfill the essential functions of the position.

Mental Demands:

Must be a creative thinker and proactive problem solver with a history of working efficiently and effectively, meeting deadlines and following projects through to completion. Ability to work in a fast paced environment and manage multiple tasks with minimal supervision while delivering the highest level of customer service.