Commercial Processing Spec

Founded in 1963, FirstBank is Colorado's largest locally owned holding company and we are still growing, serving customers in Colorado and Arizona. Our growth can be attributed to one simple philosophy: do right by customers, communities, and employees, which is at the center of the company’s “banking for good” mantra. FirstBank believes that diversity, equity, and inclusion are part of everything we do, both within and outside our company, and we take pride in hiring and training a diverse and talented group. We strive to not only maintain a diverse workforce, but also ensure our employee experience garners a sense of belonging, is inclusive and equitable. FirstBank believes that a company is nothing without the people that comprise it. By joining the FirstBank team you will experience our great team culture with ample opportunity for growth. There’s an opportunity for everyone with positions across the company, from Personal Banker and Call Center to Technology and Lending. Apply today to learn more and join the team!

A Brief Overview

Commercial Loan Processors are responsible for ordering, obtaining, reviewing, preparing and following up on documentation required to process commercial loan transactions. They act as the intermediary and central point of contact for branch loan personnel, third parties and internal departments. This position involves considerable analysis, administrative work, and communication in a fast-paced environment with constant deadlines. As a Specialist, you are responsible for managing your individual work queue and engaging in judgment calls and decision- making.

What you will do

• This position will encompass commercial loan types, varying in complexity, including Business Lending, CRE Construction, Purchase, Attorney-Prepared transactions, and 1031 Exchanges.
• Review and prepare Standard to Complex complexity loan file documentation accurately and within compliance of all state and federal lending regulations, FirstBank Loan Policy, Appraisal Policy, and Loan Committee requirements, as well as internal policies and procedures.
• Conduct a thorough review of Standard to Complex complexity commercial loan file documentation prior to closing to ensure that documents are prepared accurately with proper title, dates, dollar amounts, guarantors, collateral, covenants, etc.
• Work closely with branch Loan Officers, Loan Officer Assistants, internal departments, and third parties to compile, understand, and interpret documentation required for various types of commercial loans, and requesting information from aforementioned parties as-needed.
• Ordering and follow up on items for commercial loan file documentation.
• Confirm accuracy and completeness of all items.
• Demonstrate familiarity and complete initial reviews of collateral and supplementary file documentation such as: flood determinations, FirstBank Combo/Hazard statements, payoff statements, title commitments, commercial disclosures, and tax verifications.
• Complete business entity name and Uniform Commercial Code (UCC) lien searches.
• Develop and maintain the understanding necessary to research, review, and summarize UCC documentation to determine requirements to perfect our security interest and assist loan officer and market loan staff with resolving outstanding issues.
• Responsible for enterprise-wide UCC collateral perfection including preparing and filing UCC Financing Statements, following up on payoffs, subordinations, and terminations.
• Complete a thorough review of the weekly and monthly UCC reports.
• Work with recording agencies if various states and counties to determine proper filing requirements to ensure UCC collateral perfection.
• This includes specific required document language included in internally prepared documents as well as attorney prepared documents (covenants, special terms, monitoring/documentation requirements).
• Frequently communicate with Loan Officers, title companies, insurance agents, and other 3rd parties as well as internal departments to compile the required loan documentation.
• Establish an advanced knowledge of internal loan policies, commercial loan products, and lending regulations as well as an advanced knowledge of commercial loan software and other internal applications.
• Review and analyze corporate, collateral and supplementary file documentation to confirm accuracy, completeness, and compliance with federal regulations, Loan Committee requirements and internal loan policy.
• Complete all requirements to perfect security interest in various types of collateral including commercial real estate, accounts receivable, equipment, etc.
• Analyze various types of commercial loan terms and structures and ensure they are accurately depicted in the loan documents.