Loan Processor

Position Overview

Operating under general oversight but adhering to established policies and procedures, the Loan Processor performs various loan processing tasks efficiently and accurately while delivering exceptional customer service. Cross-training will be provided to support other branch functions such as Customer Service Representative and Teller.

Key Responsibilities

• Respond to inquiries from customers, loan processors, and credit analysts regarding loan processing and information collection.
• Manage the entire loan application process, including loan analysis summaries and packaging for Loan Processing department.
• Handle documentation required for the perfection of security instruments and liens.
• File and scan documents appropriately to maintain precise loan records.
• Enter loan data accurately into computer systems.
• Review and maintain collateral documentation for existing loans.
• Notify loan officers of any discrepancies or exceptions in loan files, including financial data.
• Verify insurance coverage on collateral by contacting insurance companies and managing insurance exception lists.
• Process loan note payments efficiently.
• Provide assistance to loan customers as necessary.
• Support efforts in collecting overdue loans.
• Release collateral and complete required documentation upon loan payoff.
• Ensure all loan activities comply with relevant laws, regulations, and bank policies.
• Participate in required training sessions, including BVS assignments and other job-related courses.
• Prepare monthly loan reports, modifications, and manage maturing loan reports.
• Administer loan exception reports using the Bankway system.
• Monitor and handle CRA and HMDA reporting requirements.
• Order flood zone certifications, GEO coding, CBI, NAICS codes, and OFAC reports as needed.
• Collect proper Customer Identification Program (CIP) information.
• Adhere strictly to bank policies, procedures, and all regulatory requirements.
• Serve as the primary backup for the Customer Service Representative role.

Required Qualifications

• Minimum of two years' experience in loan processing or loan administration.
• Strong understanding of loan documentation requirements and loan policies.
• Capability to execute account, loan, and credit transactions accurately.
• Proficiency in utilizing loan systems and databases.
• Prior experience as a Customer Service Representative and Teller is highly desirable.
• Excellent verbal and written communication skills, with clarity and correctness.