Loan Documentation Specialist
LoanBud · New York, NY · 2 mo ago
On-siteFinance$50k–$60k/yrFull-time
About the role
We appreciate our employees and in order to continue serving our customers at the highest level, we continue to strive to become "the place to work".
Responsibilities
- Collaborates with internal staff including Business Lending Officers to process and close loans in a timely manner.
- Reviews the loan file and prepares a list of items required to close and fund the loan.
- Communicates the requirements and loan status clearly and concisely.
- Prepares loans for submission in accordance with lender guidelines and requirements.
- Calculates business and/or global debt service coverage ratios.
- Opens Title and orders preliminary title reports as required; reviews title reports and make changes as necessary.
- Reviews and accepts entity documentation such as articles, by-laws as well as partnership and LLC documents.
- Ensures compliance and adherence to SBA Standard Operating Procedures (SOP) and lender credit policy.
- Determines insurance requirements and obtains hazard/flood/liability insurance as required.
- Reviews loan applications and determines initial eligibility.
- Prepares and completes loan document requests; ensure that loans are documented correctly to ensure conformance with lender approvals and conditions.
- Captures and maintains accurate pipeline reports; meets monthly loan closing and loans in pipeline goals.
- Performs other duties as assigned.
Qualifications
- Associates degree or higher
- Four years' experience in loan processing or four years of combined professional experience and education in a related field
- Knowledge of SBA loans or prior lending experience
- Proficient use and understanding of MS Office products (Word, Excel, Outlook)
Skills
- Deadline Oriented
- Analytical
- Problem-solving
- Communication
- Leadership
- Quality management
- Judgment
- Planning/organizing
- Safety and security
Benefits
- 401(k) matching
- Dental insurance
- Health insurance
- Paid time off
- Vision insurance
Pay
$50,000.00 - $60,000.00 per year
Schedule
Full-time