Commercial Loan Administrator I (Life)
About The Position
The Commercial Loan Administrator I supports the servicing and administration of the company's commercial mortgage loan portfolio, held for the general account and/or on behalf of institutional investors. A significant portion of the portfolio consists of construction loans, so this role includes administrative support for construction loan draws and monitoring in addition to standard permanent loan servicing. This entry-level position provides administrative and clerical support throughout the loan lifecycle, from closing through payoff or conversion to permanent financing, ensuring accurate records, timely processing, and compliance with investment guidelines and regulatory requirements.
Requirements
- High school diploma or equivalent required; associate's or bachelor's degree in business, finance, accounting, or a related field preferred.
- No prior commercial loan servicing experience required; prior office, banking, or financial services experience is a plus.
- Strong attention to detail and organizational skills, with the ability to manage multiple files and deadlines accurately.
- Basic proficiency in Microsoft Excel and Word; ability to learn loan servicing software (e.g., McCracken, Strategy, or similar platforms).
- Clear written and verbal communication skills.
- Ability to work under general supervision while following established procedures and investment guidelines.
- Ability to safely and successfully perform the essential job functions consistent with the ADA, FMLA and other federal, state and local standards, including meeting qualitative and/or quantitative productivity standards.
- Ability to maintain regular, punctual attendance consistent with the ADA, FMLA and other federal, state and local standards
- Must be able to occasionally lift and carry up to 15 lbs.
- Must be able to talk, listen and speak clearly on telephone
- Must be able to sit for prolonged periods at a desk, while working on a computer
Nice To Haves
- associate's or bachelor's degree in business, finance, accounting, or a related field preferred.
- prior office, banking, or financial services experience is a plus.
Responsibilities
- Sets up new commercial mortgage loans on the loan servicing system following closing, verifying loan terms against closing documents and investment approvals.
- For construction loans, processes draw requests, verifying supporting documentation such as title updates, lien waivers, inspection reports, and budget-to-date comparisons before funds are released.
- Monitors construction loan milestones (e.g., completion deadlines, conversion to permanent status).
- Processes monthly principal and interest payments, escrow disbursements, and late charges, and researches and resolves payment discrepancies.
- Maintains loan files, ensuring all required documents (notes, mortgages, insurance certificates, UCC filings, title policies) are complete, accurate, and properly stored.
- Monitors and tracks insurance, tax, and UCC continuation filings to ensure timely renewal and coverage lapses are flagged for follow-up.
- Prepares routine correspondence to borrowers, servicers, and internal partners regarding account status, payment issues, and document requests.
- Assists with loan payoffs, partial releases, and assumptions, including calculating per diem interest and preparing release documentation.
- Reconciles escrow accounts and assists with annual escrow analysis.
- Supports internal and external audits and regulatory exams by compiling requested loan documentation.
- Assists senior loan administrators and loan officers with special projects, reporting, and portfolio reviews.
- Maintains accurate data in the loan servicing and investment accounting systems.
- Other duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
