Loan Specialist

3 weeks ago

Los Angeles, United States INSPYR Solutions Full time

Title: Loan Specialist II

Location: Los Angeles CA

Duration: 6 month- Contract

Compensation: $25/hr.

Work Requirements: US Citizen, GC Holders or Authorized to Work in the US

  • Mon-Fri 8am-5pm
  • Hybrid- 3 days in office
  • Weekly Pay

Summary:

Under direct supervision, uses knowledge and skills gained through on-the-job training to process commercial and/or retail loans and prepare approval or closing documents. Detailed instructions and established procedures are provided to perform routine tasks requiring minimal evaluation, originality, or ingenuity in making routine decisions. Resolves common questions and problems and refers more complex issues to a higher level. Regular contact with internal and external clients is required to obtain, clarify, or provide facts and information.


Essential Duties and Responsibilities:

  • Obtains required loan documentation and may process less complex loan applications.
  • Orders credit verifications and third-party services
  • Tracks receipt of and reviews legal documents
  • Sets up and monitors loan and financial ticklers to ensure accuracy and timeliness of receipt of documents
  • Verifies loan files and supporting documents for accuracy and completeness. Follows up on missing documentation
  • Prepares and compiles documents for review and approval
  • May prepare or review for accuracy, disclosures required by relevant consumer regulations
  • May schedule or coordinate loan closings and clear for disbursement of proceeds
  • Prepares compliance and accounting records and reports, as required by management and regulatory agencies
  • May perform basic loan calculations
  • Assists customers with basic inquiries or problems
  • May perform pre-closing/post-closing/due diligence review of legal agreements and other closing documents to terms of loan commitment
  • Monitors existing loans and maintains files with sufficient documentation for third-party review and prepares files for timely audits
  • May prepare client communications on loan terms
  • Maintains currency in loan processing policies and procedures
  • Responsible for reviewing property and liability insurance to ensure it complies with bank policy and procedure
  • Independently prepares data input sheets and provides required information for loans to be boarded on the bank servicing system and ensures all loan coding is correct
  • Works with attorneys and other financial or legal resources to obtain the correct, accurate documents to fully protect the financial institution's interests in the credit relationship
  • Performs other duties and responsibilities as assigned

Knowledge, Skills, and Abilities:

  • Basic concepts, practices, and procedures of commercial and retail loan processing
  • Basic principles of banking and finance
  • Financial markets and products
  • Compliance with all state and federal regulations

Skill in:

  • Processing less complex loan applications
  • Document preparation for retail and/or commercial loans
  • Verifying information for accuracy and completeness
  • Preparing loan approval and/or closing packages
  • Preparing records and reports
  • Basic analytical and problem-solving skills
  • Operating standard office equipment and using required software applications

Ability to:

  • Read, interpret, analyze, and apply information from loan application documents
  • Interpret and apply policies
  • Organize, manage, and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment
  • Work independently as well as collaboratively within a team environment
  • Handle stressful situations and provide a high level of customer service in a calm and professional manner
  • Maintain currency in loan processing policies and procedures


Our benefits package includes:

  • Comprehensive medical benefits
  • Competitive pay, 401(k)
  • Retirement plan
  • …and much more

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