Sr. Commercial Loan Documentation Specialist

OneAZ Credit Union • Phoenix, AZ

9h • Onsite

About The Position

The Sr. Commercial Loan Documentation Specialist is responsible for the preparation of all commercial loan documents through the Credit Union's loan documentation system. The role administers processes required to support the creation, closing, review, perfection, and securing of loan documentation and collateral for the commercial loan portfolio. The Senior Loan Documentation Specialist works closely with internal/external stakeholders, including title companies and legal counsel, to ensure that loans comply with state and federal laws, regulations, and Credit Union lending policies and procedures.

Requirements

• High School Diploma or GED required
• 5 to 8 years of similar or related experience, loan documentation and closing experience.
• Ability to review and analyze title documents to secure Credit Union lien position in accordance with loan approval criteria.
• Understanding of general ledger and suspense accounts, and a clear knowledge of funding means.
• Ability to assess and establish a clear understanding of corporate business structures and related by-laws and/or rules of operation.
• Ability to review and evaluate a borrowing entity’s formation documents to ensure appropriate permissions and approval authorities are in place.
• Thorough knowledge of Credit Union policy and operating procedures.
• In-depth working knowledge of loan documentation language.
• In-depth knowledge of loan documentation systems (e.g., LaserPro) and processes.
• Understand the different valuation techniques used in appraisals and the ability to assist in appraisal reviews, as needed.

Nice To Haves

• Associate degree or higher strongly preferred
• Focus on Commercial Real Estate loan transactions preferred.
• Experience in Commercial Real Estate and UCC perfection requirements highly desirable preferred.
• Working knowledge of Finastra (LaserPro), Meridian Link (LoansPQ), and DNA, preferred.
• Notary preferred

Responsibilities

• Review and understand commercial real estate loan terms, conditions, and financial components as detailed in credit approval documents.
• Identify potential problems and solutions.
• Verify that title work and uniform commercial code (UCC) filings are clear and firmly support the Credit Union’s lien position.
• Create loan documentation package for each approved loan that complies with the loan’s approved terms and conditions.
• Documentation may include, but is not limited to, notes, security agreements, deeds of trust, guarantees, assignments, account holds, UCC filings and subordination agreements, and closing instructions.
• Demonstrate a level of expertise of loan documentation language and interact with borrowers and legal counsel to review potential changes.
• Perform final review of closing packages to ensure all tasks and conditions have been addressed.
• Transmit loan closing packages to loan officers or closing office to ensure closing date commitments are met.
• Review completed documents after closing to ensure proper execution.
• Identify any exceptions and notify appropriate parties of actions needed to address exceptions.
• Create additional documents such as, loan modifications, partial lien releases, hold changes or releases, guarantor changes or releases, extensions, subordinations, renewals, etc., as requested, and with evidence of appropriate approval.
• Engage legal counsel as appropriate to provide guidance on loan documentation.
• Ensure steps are taken to obtain perfection on any collateral, including all filing or recording processes needed for UCC, assignments, deeds of trust or titled collateral, etc.
• Perform final audit of loan data prior to transfer from loan documentation system to host system.
• Resolve discrepancies, as appropriate.
• Authorize and ensure disbursement of loan funds in accordance with federal and state regulations and Credit Union policies and procedures.
• Act as a resource for Business Bankers and other associates within the organization for commercial/business loan document and entity structure guidance.
• Coordinate and attend commercial loan closings with borrowers.
• Receive, approve, and process vendor invoices; balance appraisal general ledger (GL) monthly.
• Provide guidance and training to co-workers as necessary.
• Establish and maintain strong working relationships and open communication with credit administration and business banking teams.
• Ensure compliance with NCUA, and other federal and state regulations.
• Support audits and regulatory examinations.
• Maintain collateral files and is responsible for verifying completeness of files with all necessary documents and signatures required.
• Complete annual compliance training in accordance with regulations and internal policies and procedures.
• Track and report commercial loan production and documentation pipeline.
• Create and maintain effective processes and procedures.
• Identify enforceability issues and make necessary recommendations to the Director and legal counsel, as applicable.
• Provide training, technical support, and assistance to other associates, including making recommendations for enhancements to the loan documentation process.
• Participate in credit administration meetings, as requested.
• Review and identify any inconsistencies in documents related to purchased participation loans.
• Review all commercial due diligence requests for real estate, equipment, and business appraisals for all necessary information to provide to vendors for bid requests.
• Review LaserPro update documentation and perform testing of any applicable updates.
• Track the application, decline, and withdrawal status of all credit requests.
• Work with the SBA on all required subordination documentation to ensure that the Credit Union’s approved collateral position is maintained.
• Provide Partner Engineering all necessary documentation requested for any due diligence required.
• Track and maintain Sageworks workflow updates.

Benefits

• Generous paid time off: paid holidays, floating holidays, personal days, vacation days, plus sick time
• Low-cost Medical, Dental & Vision plans
• Paid childcare assistance
• Award-winning 401K
• Gym fee reimbursement
• Tuition Reimbursement
• Student loan repayment

What This Job Offers

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