Loan Processing Specialist

2 weeks ago


Council Bluffs, Iowa, United States Midstates Bank Full time
Job Location:

This role is fully onsite.

Job Purpose:

This position operates under general supervision, adhering to established policies and procedures, to deliver comprehensive loan administrative support. The primary focus is on facilitating the documentation, closing, disbursement, and servicing of loans, which may include complex construction, small business, agricultural, mortgage, and commercial loans. Effective communication with clients, customers, external agencies, and other stakeholders is essential for gathering critical information, resolving issues, and ensuring timely responses to inquiries. Responsibilities encompass drafting loan documents with accurate terms and conditions. The Loan Administrator will execute assigned tasks in alignment with Midstates Bank's Core Values and maintain adherence to Quality Service Standards.

Essential Functions:
  • Supports the lending team throughout various phases of the loan cycle, including processing loans within the loan processing software, accurately entering new loans into the core processing system, creating new loan files, managing loan extensions and modifications, and assisting with the processing of paid-off loans.
  • Scans loan documentation into the Synergy Document Imaging System, ensuring all documents are prepared, scanned/imported, indexed, and retained according to bank policies and procedures, while maintaining high standards of image quality, efficiency, and accuracy.
  • Accurately processes all loan transactions, ensuring proper posting to the relevant general ledger accounts.
  • Conducts necessary file maintenance to accurately reflect loan account status, including but not limited to loan extensions, AFTs, or changes in loan status.
  • Ensures quality control for loan transactions and new loans by researching and correcting unposted loan items daily, and verifying the accuracy of information on the core system.
  • Assists in verifying complete documentation for loans, tracking loan documentation using a computerized tracking system, and aiding in file documentation reviews.
  • Maintains loan and note files, ensuring timely filing of all documents, implementing the Midstates Bank standard loan filing system, and updating all loan tracking items on the Jack Henry system accurately and promptly.
  • Contributes to the accurate collection and reporting of compliance data, including Home Mortgage Disclosure Act information and Flood Protection documentation.
  • Performs pre-closing reviews for real estate loans as applicable.
  • Generates necessary notices and reports for the location, including printing notices of right to cure, special reports, and daily exception reports.
  • Assists lenders or other loan administrators in producing, copying, faxing, mailing, and managing correspondence to internal or external parties as required.
  • Produces collateral value reports by inputting inventory into tracking systems and notifying lenders of potential deficiencies.
  • Provides telephone support to loan customers.
  • Engages in civic activities to foster community growth and development, enhancing the bank's positive image.
  • Performs other duties as assigned.
Skills/Qualifications:
Comprehensive knowledge of loan servicing functions, particularly loan documentation and collateral requirements; strong organizational abilities; meticulous attention to detail; proficient computer skills, especially in Microsoft Word and Excel, and Jack Henry SilverLake software; excellent communication skills. Must demonstrate the ability to work independently and efficiently while prioritizing tasks based on their significance.

Education:
Associates or Bachelor's degree preferred. High School Diploma or equivalent required.

Experience:
Minimum of 1 year of banking experience; loan administration experience preferred.

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