Commercial Loan Coordinator

East Cambridge Savings Bank•Cambridge, MA

10h

About The Position

East Cambridge Savings Bank’s Lending Division is actively recruiting for a Commercial Loan Coordinator Function: Under the general supervision of the Assistant Vice President – Senior Commercial Loan Documentation Officer, performs a variety of administrative tasks in connection with processing commercial loans.

Requirements

1-3 years’ working in a banking environment or a bachelor’s degree in Business or related field with 1 year banking experience.
Must be detail oriented with strong organizational and verbal communication skills
Working knowledge of Microsoft Word and Excel
Ability to perform a variety of tasks simultaneously while adhering to guidelines

Nice To Haves

Lending knowledge and working knowledge of COCC Insight preferred.
Working knowledge of LoanVantage or other loan origination system preferred

Responsibilities

Receives and tracks applications.
Assists management in processing documentation related to Commercial real estate.
Monitors application pipeline, and follows up on appraisals, 21E reports, and financials.
Documents loan underwriting and processing activities related to Commercial loans on a daily basis
Maintains new commercial loan files, including participation loans.
Assembles and verifies accuracy of loan documentation for all commercial loan files and checks documents for proper vesting, legal descriptions, closing dates and signatures.
Reports discrepancies to management.
Files UCCs for new loans, modifications and renewals.
Prepares renewal or termination documents as necessary.
Assists in the preparation or delivery of disposition correspondence including commitment letters or adverse action and/or denied documentation, of approved or denied commercial loans.
Prepares necessary loan documents for loan closings, either in-house or by attorney.
Ensures that loans are processed in accordance with all the terms and conditions of the credit approval and all applicable regulatory guidelines.
Assists with the SBA remittance fee due report on all SBA loans on a monthly basis.
Prepares lending activity reports for the Pricing Committee on a bi-weekly basis.
Assists management by responding to inquiries from customers, attorneys and other Bank personnel as needed to resolve problems.
Acts as liaison with attorneys, appraisers, insurance companies and other applicable parties prior to and during closings to ensure accurate and consistent documentation.
Ensures proper due diligence and CIP/ CDD Beneficial Ownership requirements are met prior to closing the loan, working with the Commercial Lending Officers as needed.
Prepares and follows construction advances and closed loans.
Coordinates a draw request for Construction Loans between customers and outside construction consultants and payouts.