Commercial Loan Processor
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Job Location:
Cambridge, MA - USA
Hourly Salary:
$ 24 - 35
Posted on:
8 hours ago
Vacancies:
1 Vacancy
Job Summary
PositionTitle: Commercial Loan Processor
Department: Commercial Lending
East Cambridge Savings Banks Lending Division is actively recruiting for a Commercial Loan Processor.
Function:
Under the direction of the Assistant Vice President - Senior Commercial Loan Documentation Officer performs a variety of administrative tasks in connection with processing commercial loans.
We are looking for candidates with:
- 2-3 years working in a financial institution with lending experience or a bachelors degree in Business or related field with 1 year banking experience.
- Must be detail oriented with strong organizational and verbal communication skills
- Working knowledge of Microsoft Word and Excel
- Working knowledge of LoanVantage preferred
- Ability to perform a variety of tasks simultaneously while adhering to guidelines
Essential Job Functions:
- Receives and tracks applications. Assembles and verifies accuracy of loan documentation and check documents for proper vesting legal descriptions closing dates and signatures.
- Maintains new and paid commercial loan files and ensure that loan files contain documents with proper signatures dates and other relevant data. Reports discrepancies to Assistant Vice President Senior Commercial Loan Documentation Officer.
- Monitors UCC and/or other security documents on a regular basis. Prepares renewal or termination documents as necessary. Assists with requesting financial statements from commercial borrowers on an annual basis. Follows up on requested information/documentation to ensure receipt. Prepares disposition correspondence including commitment letters or adverse action and/or denied documentation and in-house closings of newly approved commercial non-real estate loans. Prepares necessary loan documents for loan closings either in-house or by attorney.
- Ensures that loans are processed in accordance with all the terms and conditions of the credit approval and all applicable regulatory guidelines.
- Updates the SBA remittance fee due report on all SBA loans on a monthly basis.
- Assists Assistant Vice President Senior Commercial Loan Documentation Officer in processing documentation related to Commercial real estate. Monitors application pipeline and follows up on appraisals 21E reports and financials. Reviews and packages loans for approval by Management.
- Assists Assistant Vice President Senior Commercial Loan Documentation Officer by responding to inquiries from customers attorneys and other Bank personnel as needed to resolve problems. Acts as liaison with attorneys appraisers insurance companies and other applicable parties prior to and during closings to ensure accurate and consistent documentation.
- Documents loan underwriting and processing activities related to Commercial loans on a daily basis.
- Ensures proper due diligence and CIP/ CDD Beneficial Ownership requirements are met prior to closing the loan working with the Commercial Lending Officers as needed.
- Prepares and follows construction advances and closed loans. Coordinates a draw request for Construction Loans between customers and outside construction consultants and payouts.
- Responsible for maintaining all documentation for Participation Loans serviced by ECSB or others.
Supportive Job Functions:
- Performs all related lending tasks and special projects as may be required or assigned.
Contact our Human Resources Division or visit for more details and to apply.
Or submit your resume to:
Email: Fax: Phone:
East Cambridge Savings Bank Attn: Human Resources
344 Cambridge Street Cambridge MA 02141
East Cambridge Savings Bank is an Equal Opportunity Employer/Disabled/Veterans
Key Skills
- Loan Processing
- Typing
- Data Entry
- Customer Service
- Organizational skills
- Basic Math
- Computer Skills
- Fraud
- Microsoft Outlook
- 10 Key Calculator
- Fair Housing Regulations
- Food Processing
About Company
At East Cambridge, you’ll enjoy the best of both worlds: big bank conveniences and community bank values.
