Commercial Loan Operations

New York, NY

Posted: 11/09/2018 Industry: FIN Perm Job Number: 11569143
The primary function of the Commercial Loan Operations Administrator-Operations is to monitor the Bank's loan portfolio, both collectively and individually, as per the approved terms and conditions of the loan portfolio.

All Commercial Loan Administrators require strong organizational and communication skills as the person must interact with internal clients (lenders) as well as external clients, such as attorneys, title companies, appraisers, insurance agents, and deal directly with the client. They must have a working knowledge of the Bank's accounting system and be able to effectively communicate such to those requiring their assistance.

The process requires an ability to follow many procedures and work independently within the framework of the Bank, ensuring proper compliance with all regulatory and governmental guidelines and laws.
Duties and Responsibilities Include:
After a loan has been underwritten, approved, and booked as an asset of the bank, Commercial Loan Administrators-Operations are tasked with ensuring the loan is booked in accordance with the approval document and loan documentation. They shall, in no particular order, assist in the procurement of professional services from external vendors, record the loan onto the Bank's core operating system, process loan payments, assist in loan collections, monitor reporting requirements, including exceptions and ticklers, facilitate the payment of escrowed funds, and properly discharge all paid off obligations with the appropriate jurisdiction.
" Run and review daily reports
" Obtain appraisal and environmental quotes
" Post-closing review of files
" Review Commitment Letters
" Process loan payments and participation payments
" Process payoff payments
" Process loan advances and outgoing wires
" Prepare all mortgages, ucc's, assignments and cancellations for recording of documents
" Prepare checks with appropriate fees for each county recordings
" Pull searches, review and update tickler reports
" Maintain past due reports, update GL log and fee log
" Research and obtain documentation required for new appraisers and environmental companies to be added to approved list
" Prepare and send out correspondence as required for insurance and financials

Nick LaPetina

Apply Online

Send an email reminder to:

Share This Job:

Related Jobs:

Login to save this search and get notified of similar positions.