Commercial Loan Coordinator I

Mercantile Bank•Troy, MI

20h•Onsite

About The Position

Mercantile Bank in Troy, MI is looking to hire a full-time Commercial Loan Coordinator I. This role is integral to the Commercial Lending department, ensuring customer requests are met and fulfilled efficiently and timely. The position involves researching, assembling, and verifying all required 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 role requires staying informed about upcoming loans by partnering with Commercial Lenders. Responsibilities include preparing loan documentation for closing, analyzing complex entity structures and collateral, and gathering supporting documentation. The coordinator will also support customers by answering department phone and emails, disbursing funds at closing, and addressing inquiries about loan status, collateral, and payments. Additional duties include preparing outgoing mail and correspondence, wire transfer requests, verifying funds, obtaining approvals, maintaining electronic filing systems, and coordinating meetings.

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
Minimal day travel may be required

Responsibilities

Research, assemble, and verify all required information for completing commercial loan document packages.
Obtain all required due diligence and review of documents including, but not limited to real estate title commitments, identity papers (Corporations, LLC's, Partnerships, etc.), lien searches, flood determinations, surveys, environmental due diligence, appraisals and regulatory disclosures.
Partner with Commercial Lenders to gain understanding of loans that will be coming through for processing and on upcoming workload.
Prepare the correct loan documentation for closing using information gathered.
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 maybe outside counsel to ensure we have appropriate documentation to proceed to closing.
Answer the department 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.