Commercial Loan Coordinator

East Cambridge Savings Bank • Cambridge, MA

7d • Onsite

About The Position

East Cambridge Savings Bank’s Lending Division is actively recruiting for a Commercial Loan Coordinator. Under the general supervision of the Assistant Vice President – Senior Commercial Loan Documentation Officer, this role 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.
• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level