Commercial Loan Coordinator I

Mercantile Bank•Troy, MI

8d•Onsite

About The Position

Mercantile Bank in Troy, MI is looking to hire a full-time Commercial Loan Coordinator I. This role is ideal for someone who loves to solve problems, enjoys variety in their work, and thrives in both independent and collaborative team environments. As a Commercial Loan Coordinator, you will play an integral role in the Commercial Lending department, ensuring customer requests are met efficiently and in a timely manner. The bank prides itself on excellence, and this role contributes to that standard. You will be responsible for researching, assembling, and verifying all necessary information for commercial loan document packages, including due diligence and review of various documents such as real estate title commitments, identity papers, lien searches, flood determinations, surveys, environmental due diligence, appraisals, and regulatory disclosures. The fast-paced nature of the work requires preparedness and organization. You will partner with Commercial Lenders to understand upcoming loan processing and workload. Key tasks include preparing correct loan documentation for closing, analyzing complex entity structures and collateral, and gathering supporting documentation for analysis. Collaboration with other departments, customers, and potentially outside counsel is essential to ensure proper documentation for closing. You will also handle departmental phone and email inquiries, disburse funds at closing, answer questions about loan status, collateral, and payments, prepare outgoing mail and correspondence, process wire transfer requests, verify funds, obtain approvals, and maintain an electronic filing system. Additionally, you will coordinate and arrange meetings and conference calls.

Requirements

High school diploma or GED
1-3 years' experience in a professional setting
1-3 years' banking experience with a basic understanding of the lending process
Experience utilizing technology and multiple software systems
Reliable and organized with ability to multi-task
Ability to work independently and in a team environment
Excellent communication skills
Ability to work overtime when necessary

Nice To Haves

Commercial Banking experience preferred

Responsibilities

Research, assemble, and verify all required information for commercial loan document packages.
Obtain all required due diligence and review of documents including real estate title commitments, identity papers, lien searches, flood determinations, surveys, environmental due diligence, appraisals, and regulatory disclosures.
Partner with Commercial Lenders to understand upcoming loan processing and workload.
Prepare correct loan documentation for closing using gathered information.
Analyze complex entity structures and complex collateral and gather supporting documentation and verification needed for analysis.
Partner with other departments within the Commercial Lending department, customers, and potentially outside counsel to ensure appropriate documentation for closing.
Answer departmental phone and emails to support customers by disbursing funds at closing, answering inquiries regarding loan status, collateral, loan payments, etc.
Prepare outgoing mail and correspondence, including e-mail and faxes.
Prepare wire transfer requests, verify funds, obtain proper approval authority and general follow through.
Organize and maintain electronic filing system.
Coordinate and arrange meetings, conference calls and conference rooms.