Loan Documentation/Post Closing Specialist

1 month ago

Vienna, United States Old Dominion National Bank Full time
SUMMARY

The Loan Documentation/Post Closing Specialist documents consumer and commercial loan closings and completes quality control reviews of all booked commercial loans.

Reviews loan approvals, organization documents and other closing due diligence; prepare consumer and commercial loan closing documents utilizing LaserPro software according to the loan approvals and within the closing deadline as communicated by the lender or lending assistant. Conducts post-close reviews of all booked commercial loans, prepares detailed reports of findings, provides results to management, and tracks corrections, revisions and submission of missing documentation.

ESSENTIAL FUNCTIONS

Loan Documentation:
  • Reviews collateral documents, title commitments, UCC search reports and organization documents in conjunction with loan approvals, and coordinates with lenders and lending assistants to satisfy missing items
  • Prepares accurate consumer and commercial loan documents utilizing LaserPro software, according to the loan approval, that includes the appropriate conditions, identifies terms of repayment, and perfect the bank's collateral interest
•Reviews entity corporation documents to determine and verify the appropriate signors
  • Verifies loan documentation for compliance and completeness
  • Coordinates commercial loan closings with lenders and lending assistants.
  • Coordinates consumer loan closings with lenders, title companies and branch staff.
  • Assists the Loan Documentation Manager and other members of the bank in various capacities

Post Closing:

•Reviews information in the bank's core operating system against loan documentation and the approval to ensure loans have been boarded accurately (rate, rate adjustments, term, guarantors, collateral, etc.)

•Reviews executed loan documents to ensure that all documents are present, properly executed according to the organization documents.

•Reviews executed loan documents to ensure that all documents contain the correct terms and conditions as set for in the loan approval. If modification is needed, notifies lender to rectify.

•Reviews description of collateral for incomplete or inaccurate descriptions that may need to be modified.

•Tracks and ensures corrections are rectified

Requirements

Competencies :

•Strong verbal & written skills

•Attention to detail balanced with the ability to work efficiently

•Ability to learn and master relevant software programs

•Strong organizational and time management skills

•Highly motivated and self-starter mentality preferred

Supervisory Responsibilities:

None

Work Environment:

This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.

Physical Demands:

This position requires sitting at a computer station for extended periods of time.

Position Type/Expected Hours of Work:

This is a full-time, in office position.

Days and hours of work are Monday through Friday from 9:00 to 5:00.

Travel:

None

Education and Experience:

•High school diploma required

•Five (5) years of experience in a financial institution lending environment preferred

•Minimum of four (4) years of consumer and commercial loan processing and documentation experience

•LaserPro loan documentation software experience preferred

•Comprehensive knowledge and understanding of title work, UCC lien searches, and legal documents

•Excellent working knowledge of reviewing corporate documents (e.g. Articles of Incorporation, By-laws, Operating Agreements, Partnership Agreements)

•Must have experience closing consumer and commercial loans, reviewing title work, settlement statements, UCC searches, and preparing closing instruction letters

Work Authorization/ Security Clearance:

Must be eligible to work in the United States.

AAP/EEO Statement:

Old Dominion National Bank provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, ODNB complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

ODNB expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of ODNB's employees to perform their job duties may result in discipline up to and including discharge.

Other duties:

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

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