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Position: AVP/Loan Documentation Manager
Department: Credit Administration
Reports to: Loan Administration Manager/GVP
Level: Exempt
Position Summary
Responsible for performing a variety of loan administration duties for moderately complex loans, using comprehensive knowledge of policies and procedures for loan products. Responsible for preparing accurate loan documents for commercial/commercial real estate, residential mortgage, and consumer loans while keeping current with compliance issues. Counsel lending department, as needed, regarding various documentation issues and updates.
Primary Duties
- Prepare new, renewal, extension and/or modification loan documents in accordance with credit approval, loan documentation standards and regulatory requirements for all loan types (retail, residential mortgage and commercial).
- Complete pre-closing loan checklist for each loan documentation request completed to ensure complete and accurate loan package is prepared for each closing. Each checklist must be signed and dated with acknowledgement of the loan terms and conditions, as approved.
- Review attorney prepared documents for completeness, compliance and accuracy.
- Order/review title work, applicable due diligence reports and insurance documents for all loan closings.
- Calculate closing costs and prepare settlement statement/closing disclosure other loan closing disclosures for all loan types (consumer, residential mortgage and commercial), as required
- Review all loan packages to ensure accurate and necessary documentation for closing is requested. Follow up on any outstanding closing conditions; track receipt of incoming documents and handle requests and inquiries to ensure timely closing of loans, as necessary.
- Maintain open lines of communication with all parties (i.e., loan officer, attorneys, title companies and others) and provide information regarding loan closing to appropriate parties, as requested.
- Maintain loan document tracking log to ensure timely completion of all loan documentation requests received.
- Review and negotiate loan documents with the Loan Officer and borrower. Works routinely with legal counsel with review and accuracy of attorney prepared loan documents.
- Communicate with external and internal customers as needed. Daily interaction with loan officers, lending department staff and outside contacts including attorneys, escrow/title companies and insurance agents.
- Prepare lien releases for paid loans and maintain record retention files for all paid loans. Retrieve archived files as requested.
- Counsel loan officers on matters regarding loan documentation.
- Responsible for training junior team members. Perform quality control 2nd review on documents prepared by junior team members.
- Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures and not harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice
- Assist with collection of data for HMDA reporting.
- Assist Loan Administration Manager as required to complete special projects and other duties relating to the department.
- Perform other duties as assigned.
Skills and Abilities Required
- Ability to review, read and interpret moderately complex loan documents. Good analytical skills needed to understand various types of commercial, commercial real estate, residential mortgage and consumer loans transactions.
- Excellent communication skills, both verbal and written. A high level of interpersonal skills to communicate documentation and compliance issues with lenders and others.
- Knowledge of applicable due diligence and risk management requirements.
- Ability to multi-task and meet deadlines.
- Must be accurate and detail oriented.
Minimum Requirements:
Bachelor’s Degree (preferred) and 3+ years of loan documentation, closing or other directly related experience, preferably in commercial loan documentation. A combination of education and experience may meet requirements.
Comprehensive knowledge of general loan documentation, loan closing processes and procedures, lending policies, insurance requirements, compliance and lending regulations.
Knowledge of State and Federal regulatory requirements and general banking compliance requirements pertaining to commercial loans, residential real estate and consumer loan transactions
Knowledge of PC's and various, loan documentation systems, tickler maintenance and/or related software.
Comply with all federal and state regulations and rules impacting this position, meet all risk and compliance obligations, including the completion of required training.
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