Loan Documentation Specialist - Retail

Why should you join our team?

American AgCredit offers a unique opportunity to be a part of a national financial system supporting those who feed, clothe and fuel the world. We are a growing organization embracing collaboration and innovation while delivering transformative solutions. American AgCredit provides a cultivating environment where you truly make a difference for our customers and teams.

Benefits offered by American AgCredit:

• Commitment to agriculture and the communities we serve
• Family friendly work environment
• Investment in employee development
• Medical, Dental and Vision coverage
• Outstanding 401k – automatic 3% employer contribution, plus match up to 6%
• Generous Paid Time Off (Vacation accrued at 21 days annually, Sick Days accrued at 15 days annually, 12 paid holidays, plus 16 hours of volunteer time)
• Competitive Incentive Compensation Plan
• Disability & Life Insurance
• Employee mental, physical, and financial wellness programs
• The position is bonus eligible based on association and personal performance

Position will be posted until filled.

BASIC FUNCTION:

The Retail Documentation Specialist is responsible for managing the document preparation process.  This includes reviewing and drafting a wide variety of loan documents for mortgage and commercial loans, loan servicing actions, and legal documentation to expedite processing in a centralized loan documentation department.

ESSENTIAL DUTIES:

• Research and analyze loan packages including diverse and mixed collateral options, to independently prepare loan documentation according to loan request and approval for moderately complex loans, with general direction for more complex loans.  Documents can include master and supplemental loan agreements, promissory notes, security documents and release documents.  Types of loans include operating, equipment purchase, debt refinance and real estate purchase.

• Manage loan preparation for loan servicing actions, which include assumptions, partial releases of personal and/or real property, lot line adjustments, consents to easements, logging permits, re-amortizations and releases of liability.  Draft documentation to create, waive or modify loan covenants and conditions, loan defaults, interest rate changes and changes in security ownership.

• Independently examine each loan transaction. Recognize and resolve discrepancies in instructions and noncompliance with policies and procedures, and instruct staff appropriately. Request clarification and supporting documentation from lenders, loan underwriters, and support staff to ensure accuracy.

• Ensure all loan controls and closing conditions for the approved loan transaction are reflected in the final loan documents.

• Review and interpret trust certifications and entity documentation to determine authority of non-complex signers, which may involve multiple and various types of entities.  Prepare documentation necessary to obtain authorizations for loan transaction. 

• Review and analyze appraisal reports to determine the collateral valued for the transaction, owners of collateral and the necessary security documentation needed to perfect AAC’s lien on real property as well as associated personal property. 

• Independently examine personal property and real property searches, preliminary title/commitment reports and copies of other lien filings to confirm that American AgCredit’s lien position meets approved requirements.  Prepare subordination and other documents necessary to perfect American AgCredit’s lien on collateral.  Identify any potential closing issues and appropriately prepare documentation required for closing to satisfy issue.

• Draft escrow instructions for real property secured transactions, determining appropriate level of coverage is required with necessary title endorsements, American AgCredit’s lien will be subject to appropriately approved title exceptions, and requirements comply with American AgCredit policies and procedures. 

• Compose and prepare correspondence; edit and proof various loan related documents.  Create/draft loan conditions precedent, financial covenants and post-close loan conditions.

• Answer inquiries and provide information to branch personnel, and/or direct other inquiries to the appropriate person. Identify and provide details of deficiencies in loan documentation information and packages to gain more efficiency and provide better customer service.

• Perform other functions assigned.

LEVELS OF SUPERVISION EXERCISED AND RECEIVED:

Works under limited direction of the Regional Documentation Manager.  Makes independent decisions.

TYPICAL EDUC