Loan Documentation Specialist

American AgCredit • Montrose, CO

2d • $52,568 - $86,211 • Hybrid

About The Position

The Loan Documentation Specialist manages the document preparation process in a centralized loan documentation department. The role reviews and drafts a wide variety of documents for mortgage and commercial loans, loan servicing actions, and legal documentation, helping expedite processing. The specialist prepares documentation independently for moderately complex loans and works with general direction on more complex loans.

The position works under the limited direction of the Regional Documentation Manager and makes independent decisions. It requires accurate work, strong communication and interpersonal skills, sound prioritization and time management, the ability to meet tight deadlines and manage multiple tasks, and the ability to use information technology in familiar and complex situations.

The job is performed partly remotely and partly onsite. The employee works during established business hours, with occasional weekend or evening work potentially required. The role involves a typical office setting, extended periods sitting at a desk and using a computer, and occasional lifting or moving of items up to 25 pounds.

Requirements

• High school diploma plus at least two years of post-high-school education.
• Three years of experience documenting mortgage and/or commercial loans, conducting title-company record searches, and/or escrow experience.
• Knowledge of legal requirements for documenting loans secured by real and personal property.
• Understanding of title insurance practices and procedures.
• Demonstrated ability to produce highly accurate work and make independent decisions.
• Ability to prioritize competing tasks, set goals and timetables, and manage time and resources effectively.
• Ability to work under tight time constraints, solve problems, negotiate deadlines, multitask, and prepare and revise loan documents.
• Exceptional written and verbal communication skills.
• Exceptional interpersonal skills and ability to work well with a team.
• Ability to use software and information technology to collect, organize, retrieve, maintain, and disseminate information, including in new or complex situations.
• Ability to perform basic office tasks in a typical office setting.
• Ability to sit for extended periods and work at a desk and computer for extended periods.
• Ability to talk and hear, sit, use hands and fingers, and reach in all directions.
• Ability to lift or move items weighing up to 25 pounds.
• Ability to work established business hours and occasionally work weekends and/or evenings.

Responsibilities

• Research and analyze loan packages, including diverse and mixed collateral, and prepare loan documentation according to loan requests and approvals.
• Prepare documents such as master and supplemental loan agreements, promissory notes, security documents, and release documents for operating, equipment purchase, debt refinance, and real estate purchase loans.
• Manage documentation for loan servicing actions, including assumptions, partial releases, lot line adjustments, easement consents, logging permits, re-amortizations, and releases of liability.
• Draft documentation to create, waive, or modify loan covenants and conditions, loan defaults, interest rates, and security ownership.
• Examine loan transactions, identify and resolve discrepancies or policy and procedure noncompliance, and request clarification or supporting documentation from lenders, underwriters, and support staff.
• Ensure loan controls and closing conditions are reflected in final loan documents.
• Review trust certifications and entity documentation to determine signer authority and prepare documentation needed to authorize loan transactions.
• Analyze appraisal reports to identify collateral and owners and determine security documents needed to perfect liens on real and personal property.
• Examine property searches, title reports, and lien filings to confirm lien position meets approved requirements; prepare subordinations and other documents to perfect liens.
• Draft escrow instructions for real-property-secured transactions and ensure coverage, title endorsements, exceptions, and requirements comply with approved terms and company policies.
• Compose correspondence; edit and proof loan-related documents; and create or draft conditions precedent, financial covenants, and post-close conditions.
• Answer inquiries from branch personnel or direct inquiries to the appropriate person.
• Identify and communicate deficiencies in loan documentation information and packages to improve efficiency and customer service.
• Perform other assigned functions.

Benefits

• Medical, dental, and vision coverage.
• 401(k) plan with an automatic 3% employer contribution and matching up to 6%.
• Paid time off, including vacation accrued at 21 days annually, sick days accrued at 15 days annually, 12 paid holidays, and 16 hours of volunteer time.
• Competitive incentive compensation plan.
• Disability and life insurance.
• Employee mental, physical, and financial wellness programs.
• Bonus eligibility based on association and personal performance.
• Family-friendly work environment.
• Investment in employee development.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED