Commercial Loan Processor

Responsibilities

• Performs reviews on loan applications and modifications through a data field validation process to ensure data integrity is maintained for commercial loan documents.
• Ensures accuracy of loan applications and modifications submitted for Compliance related items by conducting reviews of the following:
• On-going HMDA, Reg. B (Joint Intent to Apply), CIP, CDD monitoring for procedure effectiveness and training recommendations.
• Generating Appraisal Disclosures (Reg. B) for loan applications when applicable.
• Obtain and review Beneficial Ownership for completion and accuracy and perform appropriate OFAC search.
• Orders, receives and review of Property Reports, Flood Determinations, UCC Searches (basic & detailed), Business Name Searches, Domestic Lien Searches and Appraisals in accordance with the loan decision application conditions.
• Maintains logs and reports to be used by Management.
• Preparation of flood worksheet including verifying all required items are present (flood determination, signed flood notice, adequate flood insurance coverage).
• Orders UCC searches (basic and detailed), and business name searches.
• Manages the review and distribution, while ensuring the accuracy and completeness of the Property Reports, Flood Determinations, UCC Searches, Business Name Searches, and Appraisals in accordance with the approval of the loan application/modification by:
• Analyzing and reviewing the reports and comparing them to each other and the approval to ensure the information coincides with each other.
• Distributing the reports to the Bankers once received and reviewed.
• Working with Underwriters, Portfolio Managers, Quality Control Analysts and Bankers on rectifying differences between the required reports and the loan approval conditions to ensure all are within compliance (i.e. judgments, tax liens, incorrect parcel numbers and/or addresses Borrower’s Legal Name, etc.).
• Ensures all reports are attached to the loan origination system once accuracy has been validated.
• Working with the Commercial Loan Documentation Processing Supervisor to correct any differences that may arise during the documentation process.
• Working with the various Vendors to have information corrected on reports in a timely manner.
• Corresponds with outside counsel as needed to ensure validity of supporting documents.
• Completes the Flood Insurance Worksheet calculations for loans and modifications to ensure the Bank obtains adequate flood insurance coverage.
• Reports all errors and findings and recommends ideas and actions to improve processes and procedures.
• Responsible for the daily reconciliation for the Appraisal General Ledger account.
• Remains current with all federal, state regulations and S&T Bank Policies.
• Obtains & maintains proficiency in the loan origination system software, Microsoft Office (Word, Excel, & Outlook), internet searches, core operating system (FIS), imaging system, applicable vendor software along with the upgrades to these programs or replacement software and any other conduit available to process all orders as well as prepare required documentation.
• Advances knowledge through further education and/or obtaining certifications and attending training, where appropriate, on regulatory, platforms and audit issues or concerns.

Qualifications

• Requires a high school diploma or equivalent basic academic education.
• Requires two to five years general business experience and two to five years specialized experience in Commercial Lending, Document Regulatory knowledge.