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Loan Processor

Loan Processor

PhaxisLos Angeles, CA, US
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Job Title

Essential Duties and Responsibilities :

  • Obtain required loan documentation and process less complex loan applications.
  • Order credit verifications and third-party services.
  • Track receipt of and review legal documents.
  • Set up and monitor loan and financial ticklers to ensure accuracy and timeliness of receipt of documents.
  • Verify loan files and supporting documents for accuracy and completeness.
  • Follow up on missing documentation.
  • Prepare and compile documents for review and approval.
  • Prepare or review for accuracy, disclosures required by relevant consumer regulations.
  • Schedule or coordinate loan closings and clear for disbursement of proceeds.
  • Prepare compliance and accounting records and reports, as required by management and regulatory agencies.
  • Perform basic loan calculations.
  • Assist customers with basic inquiries or problems.
  • Perform pre-closing / post-closing / due diligence review of legal agreements and other closing documents to terms of loan commitment.
  • Monitor existing loans and maintain files with sufficient documentation for third-party review and prepare files for timely audits.
  • Prepare client communications on loan terms.
  • Maintain currency in loan processing policies and procedures.
  • Review property and liability insurance to ensure compliance with bank policy and procedure.
  • Independently prepare data input sheets and provide required information for loans to be boarded on the bank's servicing system and ensure all loan coding is correct.
  • Work 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.
  • Perform other duties and responsibilities as assigned.

Knowledge, Skills, and Abilities : Knowledge Of :

  • 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.
  • Performing basic calculations.
  • 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.
  • Communicate effectively, both orally and in writing.
  • 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.
  • Establish and maintain effective working relationships.
  • Maintain currency in loan processing policies and procedures.
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    Loan Processor • Los Angeles, CA, US