Business Services Loan Processor

Eastman Credit Union is now hiring an Business Services Loan Processor!

 

Our ideal candidate will conduct themselves in a way that reflects our high standards of professionalism and customer service. These standards include excellent communication skills, leadership ability, self-awareness, and flexibility. We search for candidates that reflect integrity, loyalty, and dedication in everything they do. 

 

Eastman Credit Union offers competitive pay and benefits, promotional opportunities, and a culture that is hard to beat! We have high expectations for performance and want employees who can rise to the challenge.

 

Summary: Support Commercial Lenders with loan processing.  Prepare closing documents in compliance with established policies. Promote collaborative working relationships with attorneys, closing agents, vendors, and borrowers.  Responsible for timely and accurate disbursement of loan proceeds.

 

Essential Duties and Responsibilities include the following. Other duties may be assigned.

• Adhere to ECU policies and guidelines.
• Maintain expert knowledge of Business Services policies, guidelines, products, and procedures related to business loan processing.
• Eastman Credit Union offers a variety of business loan products, including but not limited to, Real Estate secured loans, Auto and Equipment loans, Business Visas, unsecured loans, Lines of Credit, and Letters of Credit.
• Maintain working knowledge of regulatory compliance applicable to business loans. Including but not limited to:
  • ECOA (Equal Credit Opportunity Act)- Regulation B
  • HMDA (Home Mortgage Disclosure Act)- Regulation C
  • Flood Disaster Protection Act
  • State specific laws and regulations.
• Maintain comprehensive knowledge of business entity types and legal structures.
  • Review state filings to confirm proper formation and active status.
  • Review entity documentation to confirm proper structure and authorities.
  • Confirm and draft proper signature blocks for loan documentation.
• Assemble and maintain credit and collateral files.
  • Utilize processing checklists to ensure all application, financial, non-natural person entities, and collateral documentation is included in file.
  • Review documentation for accuracy and completeness. Identify missing documentation and confirm documentation matches information entered in loan origination system.
  • Maintain pending and incomplete files, ensuring files are accessible and organized in the proper file location during the loan process.
• Work with attorneys / closing agents, collateral valuation, service providers, and borrowers to close loans in a timely manner. Show professionalism and courtesy.
• Develop expert knowledge of MBL loan documentation software. Input data accurately and timely.
• Monitor pipeline for timely processing. Maintain logs and tracking reports on MBL activity.
• Follow Customer Identification Program (CIP) standards.
• Process member business loans which include:
  • Keep track of appraisal engagements.
  • Preparing attorney instruction letters and ordering title work.
  • Ordering formation documents and certificates of good standing.
  • Ordering UCC searches.
  • Processing accounts payable items.
  • Obtaining evidence of insurance, verifying sufficient coverage and deductibles with proper parties insured based on ECU guidelines.
  • Reviewing title commitments or title searches upon receipt from title company. The review of Title Commitments includes, but is not limited to:
    • Vesting Information - correct ownership listed
    • Loan Amount is listed correctly.
    • Property Tax Information is listed.
    • Review Exceptions – ensure that non-standard exceptions are either cleared or approved by Management.
  • Prepare initial Escrow analysis for loans that require impounds for taxes and or insurance.
  • Review loan request to ensure product specific items are correct.
  • Ensure underwriting conditions have been met.
  • Entering loan information into nCino and loan documentation software.