Commercial Loan Document Specialist - Detroit, MI

LMCU • Detroit, MI

5d • Hybrid

About The Position

The Commercial Loan Document Specialist role is responsible for the preparation and coordination of commercial loan documentation in preparation for final approval and closing.

Requirements

• Three to five years of similar or related experience
• Excellent written and verbal communication skills
• Extensive knowledge and understanding of accounting and credit principles, lending functions and loan analysis
• Ability to demonstrate resourcefulness in application of general credit policies
• Extensive knowledge of loan documentation, loan policy, regulations and loan grading process
• Excellent analytical skills regarding loan/credit review
• Advanced PC and spreadsheet software skills

Responsibilities

• Generating legal documentation for all commercial loans, including real estate, SBA, asset based, vehicle and equipment loans.
• Ensuring pre and post-closing review to properly perfect and maintain LMCU’s collateral position and that the loan is closed in accordance with the approval.
• Boarding all loans onto the Credit Union’s operating systems correctly, verifying correctness of interest rate, loan type, maturity date, and payment amount.
• Maintaining collateral and financial tracking, researching and resolving collateral exceptions to ensure compliance with lending policies and guidelines.
• Contacting customers regarding past due payments and financial statement exceptions.
• Responsible for real estate payment tracking, special asset loan tracking, billing issues, and special departmental project requests.
• Ensuring all required compliance tracking is updated periodically as loans are closed and/or modified, including: HMDA, Adverse Action, FDPA, and NCUA/LMCU policy exception reporting.
• Handling special project requests as they arise including, but not limited to; billing issues, real estate tax payment tracking, special asset loan tracking.

Benefits

• Weekly Pay
• Comprehensive Health & Wellness package including Medical (with prescription coverage), Dental, and Vision
• Matching Health Savings Account Contributions
• Dependent Care flexible spending account (FSA)
• Retirement options: 401 (k) with company match
• Paid time off: Vacation, Personal days, paid holidays, paid volunteer time, sick days, & flex time
• Tuition reimbursement

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed