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Become A Loan Administrator

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Working As A Loan Administrator

  • Getting Information
  • Establishing and Maintaining Interpersonal Relationships
  • Making Decisions and Solving Problems
  • Interacting With Computers
  • Processing Information
  • Mostly Sitting

  • Make Decisions

  • Repetitive

  • $63,430

    Average Salary

What Does A Loan Administrator Do At Metlife

* _
* Manage a portfolio of Timber loans for which duties include, but are not limited to, servicing functions such as interest rate reviews, partial releases, collateral substitutions, easements, subordinations, consents, and non-disturbances, re-inspection reports, amendments, and loan payoff requests..
* Conduct analysis of borrower requests, in collaboration with internal and external counterparts, and complete narrative recommendations for approval, through the MetLife portfolio management system.
* Facilitate documentation and completion/closing of such loan servicing actions.
* Coordinate due diligence and data collection efforts related to portfolio management.
* Establish and enhance relationships with our customers as an ambassador for MetLife fielding borrower inquiries/requests and increasing potential for additional loan opportunities by providing superior customer service.
* Responsible for tracking covenants, including receipt, analysis, and satisfaction of related requirements.
* Timber specific (training provided as needed) requirements may include, but are not limited to, Annual Harvest Reports, Annual Harvest Plans, and Cruise Reviews.
* Loan Closing:_
* With support of in-house and outside counsel, negotiates, assembles and processes accurate mortgage and loan closing documents consistently, in a timely manner, and in compliance with MetLife’s policies.
* Collaborate with mortgage team members, brokers, property owners, attorneys and other transaction counterparts to perform due diligence including, but not limited to, legal description review and reconciliation, review of exceptions to title policies, easements, supply agreements, and other agreements that potentially impact loan collateral.
* Verifies borrower information, including trust agreements, corporation resolutions, lease agreements, etc is accurate and current.
* Responsible for all post-closing follow up with respect to any outstanding issues, including receipt of recorded documents and accurate title policy with endorsements

What Does A Loan Administrator Do At Wells Fargo

* Review and interpret credit agreements and other legal documents, provide feedback to the deal teams on the optimal operational structure.
* Adhere to Wells Fargo-approved and industry standards, and make certain the Loan documents conform.
* Assemble all additional legal documentation and book new business onto our system of record (LoanIQ).
* Coordinate the closing/funding process with both the borrower and investors expectation.
* Demands on-the-spot response to questions regarding the closing and adherence to very tight deadlines.
* As the middleman between the borrower and investor, this person must make decisions on exceptions while providing accurate information, as well as competent and timely service, which not only impacts Wells Fargo’s reputation, but also can expose the bank to significant exposure and loss.
* This person will also interact with internal middle/senior management and external interactions with CFO/Treasurer level of borrowers.
* Process all funding & wire transfer transactions, book/clear GL items, and final reconciliation of all funds movement.
* Answer all inquiries of the syndicate group specific to the transactions under the agreement.
* Provide all investors with explicit instructions to successfully carry out the request of the borrower by ensuring that all investors have received notifications on a timely basis.
* Update support/administrative systems with transaction specific information, review transaction outputs for accuracy and completeness.
* Ensure upfront and service fees are processed in a timely manner.
* Light travel may be required
* Hours for this position are Monday
* Friday 8:30am
* pm.
* Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company.
* They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions

What Does A Loan Administrator Do At Horizon Bank

* Process commercial construction draws, review sworn statements and inspection reports obtain endorsements and lien waivers; disburse funds to title company or contractor as required under approved terms and conditions for each loan.
* Ensure construction draws are completed timely and accurately.
* Prepare disbursement checks and arrange wire transfers.
* Prepare and monitor Construction Loan Report on a monthly basis Process equipment and SBA draws - verify requirements for each draw request and track use of proceeds within applicable SBA authorization tolerances Order commercial appraisals and maintain tracking of due datesCoordinate evaluation orders with lender and Credit department staffMonitor Draw Request email In Box on a daily basis and review daily postings report Monitor and assist with clearing commercial documentation exceptions Handle routine customer requests such as transfers, draw requests, account balance inquiries, etc
* Accurately and promptly prepare payoff letters, as well as release of mortgages or other collateral; review paid loans prior to releasing collateralReport suspicious transactions or unusual occurrences to supervisor
* Conduct and document periodic risk reviews and run reports as neededPerform all work in compliance with established regulations, policies, Standard Operating Procedures (SOPs), and instructions.
* Maintain customer confidence and protect bank operations by keeping information private and confidential
* Participate in ongoing skill, compliance, risk management and security training as required for the position and apply knowledge in daily tasks Other duties as assigned

What Does A Loan Administrator Do At MUFG Union Bank

* Review of credit approval and due diligence items and loan documentation preparation to ensure transaction complies with bank policy and procedures and governing regulations.
* Act as key liaison with account officers, borrowers, title company representatives and attorneys.
* Ensure protection of the Banks interest while working with account officers to provide a high level of customer service.
* Ensure loan documentation complies with banks operational requirements and can be serviced on bank’s system of record.
* Loan closing review of executed loan documents to determine that they have been properly signed, initialed and/or notarized.
* Prepare closing instructions and transmission of loan documents for recording to title/escrow.
* Determine that all pre-closing requirements and exceptions are satisfied or appropriate waivers are obtained

What Does A Loan Administrator Do At Robert Half

* Record commercial loan activity and provide information to accounting for income and expense recording purposes.
* Produce loan activity and document tracking reports for internal use in performance analysis.
* Provide support to the credit function in the analysis of customer's financial performance.
* Provide information and administrative support to the trustee as requested.
* Robert Half Finance & Accounting, the world's leader in specialized financial staffing, provides exciting full-time opportunities in the areas of accounting, bookkeeping, finance, audit, taxation and more.
* We pioneered the professional staffing industry, and we've been successfully matching professionals with employers since 1948.
* Our proven proprietary processes, along with our relationships in 325 locations worldwide, allow us to provide you unparalleled access to exciting career opportunities.
* But don't take our word for it.
* Our company once again was named first in our industry on Fortune® magazine's list of "World's Most Admired Companies" (March 1, 2017), and 9 out of 10 of our customers would recommend our service to a colleague.
* Apply for this job now or contact our nearest office at 844
* for additional information.
* All applicants applying for U
* S. job openings must be authorized to work in the United States.
* All applicants applying for Canadian job openings must be authorized to work in Canada.
* Robert Half Finance & Accounting.
* An Equal Opportunity Employer M/F/Disability/Veterans
* By clicking 'Apply Now' you are agreeing to Robert Half Terms of Use.
* Req ID:
* Functional Role:
* Loan Originator
* Country:
* USA
* State:
* IL
* City:
* Chicago
* Postal Code:
* Compensation:
* DOE

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How To Become A Loan Administrator

Most loan officers need a bachelor’s degree and receive on-the-job training. Mortgage loan officers must be licensed.

Education

Loan officers typically need a bachelor’s degree, usually in a field such as business or finance. Because commercial loan officers analyze the finances of businesses applying for credit, they need to understand general business accounting, including how to read financial statements.  

Some loan officers may be able to enter the occupation without a bachelor’s degree if they have related work experience, such as experience in sales, customer service, or banking. 

Training

Once hired, loan officers usually receive some on-the-job training. This may be a combination of formal, company-sponsored training and informal training during the first few months on the job.

Licenses, Certifications, and Registrations

Mortgage loan officers must have a Mortgage Loan Originator (MLO) license. To become licensed, they must complete at least 20 hours of coursework, pass an exam, and submit to background and credit checks. Licenses must be renewed annually, and individual states may have additional requirements.

Several banking associations, including the American Bankers Association and the Mortgage Bankers Association, as well as a number of schools, offer courses, training programs, or certifications for loan officers. Although not required, certification shows dedication and expertise and thus may enhance a candidate’s employment opportunities. 

Important Qualities

Decisionmaking skills. Loan officers must assess an applicant’s financial information and decide whether to award the applicant a loan. 

Detail oriented. Each piece of information on an application can have a major effect on the profitability of a loan, meaning that loan officers must pay attention to detail.

Initiative. Loan officers need to seek out new clients. They often act as salespeople, promoting their lending institution and contacting firms to determine their need for a loan.

Interpersonal skills. Because loan officers work with people, they must be able to guide customers through the application process and answer their questions.

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Loan Administrator jobs

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Loan Administrator Career Paths

Loan Administrator
Office Manager Operations Manager General Manager
Account Manager
5 Yearsyrs
Operations Manager Branch Manager
Assistant Vice President
7 Yearsyrs
Operations Manager Account Executive Sales Manager
Branch Manager
6 Yearsyrs
Vice President And Manager Finance Advisor Senior Loan Officer
Branch Manager/Loan Officer
5 Yearsyrs
Operations Specialist Accounts Receivable Specialist Accounts Receivable Supervisor
Credit Manager
5 Yearsyrs
Underwriter Senior Underwriter Assistant Vice President
Credit Officer
5 Yearsyrs
Office Administrator Accounts Payable Clerk Accounting Manager
Finance Controller
9 Yearsyrs
Office Manager Accountant Finance Analyst
Finance Manager
7 Yearsyrs
Vice President And Manager Mortgage Consultant Underwriter
Lending Services Manager
7 Yearsyrs
Credit Analyst Finance Analyst Senior Finance Analyst
Manager Finance Planning And Analysis
8 Yearsyrs
Accountant Finance Analyst Assistant Vice President
Manager, Assistant Vice President
7 Yearsyrs
Assistant Vice President Project Manager Program Manager
Operations Director
9 Yearsyrs
Assistant Vice President Human Resources Coordinator Specialist
Operations Manager
7 Yearsyrs
Accounts Payable Clerk Account Manager Property Manager
Portfolio Manager
7 Yearsyrs
Office Administrator Project Coordinator Operations Manager
Regional Operation Manager
9 Yearsyrs
Accountant Account Manager Underwriter
Underwriting Manager
8 Yearsyrs
Credit Analyst Assistant Vice President
Vice President And Manager
10 Yearsyrs
Underwriter Assistant Vice President
Vice President And Portfolio Manager
10 Yearsyrs
Accounts Payable Clerk Analyst Assistant Vice President
Vice President Operation Manager
9 Yearsyrs
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Loan Administrator Demographics

Gender

  • Female

    72.8%
  • Male

    24.8%
  • Unknown

    2.4%

Ethnicity

  • White

    79.1%
  • Hispanic or Latino

    11.2%
  • Asian

    7.4%
  • Unknown

    1.7%
  • Black or African American

    0.6%
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Languages Spoken

  • Spanish

    50.0%
  • Chinese

    6.5%
  • French

    6.5%
  • Cantonese

    5.4%
  • Mandarin

    4.3%
  • Portuguese

    3.3%
  • German

    3.3%
  • Japanese

    3.3%
  • Polish

    3.3%
  • Greek

    2.2%
  • Russian

    2.2%
  • Arabic

    2.2%
  • Korean

    2.2%
  • Vietnamese

    1.1%
  • Albanian

    1.1%
  • Hindi

    1.1%
  • Thai

    1.1%
  • Italian

    1.1%
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Loan Administrator

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Loan Administrator Education

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Real Loan Administrator Salaries

Job Title Company Location Start Date Salary
Senior Loan Administrator World Business Lenders, LLC Jersey City, NJ May 07, 2016 $80,000
Loan Administrator Bank of Taiwan, New York Branch New York, NY Sep 18, 2014 $65,062 -
$75,000
Loan Administrator/Ib&S MSC UBS AG Stamford, CT Apr 02, 2011 $60,200 -
$70,000
Loan Administrator Newbank NY Aug 26, 2015 $57,873
Senior Loan Administrator World Business Lenders, LLC Jersey City, NJ May 07, 2016 $55,000
Senior Loan Administrator World Business Lenders, LLC New York, NY Sep 23, 2015 $47,486
Junior Loan Administrator World Business Lenders, LLC Jersey City, NJ May 07, 2016 $47,000
Senior Loan Administrator World Business Lenders, LLC New York, NY Sep 16, 2015 $47,000
Senior Loan Administrator World Business Lenders, LLC New York, NY Sep 12, 2014 $47,000
Loan Administrator World Business Lenders, LLC Jersey City, NJ May 07, 2016 $42,000
Junior Loan Administrator World Business Lenders, LLC Jersey City, NJ May 07, 2016 $42,000
Junior Loan Administrator World Business Lenders, LLC New York, NY Sep 12, 2014 $42,000
Loan Administrator World Business Lenders, LLC New York, NY Sep 17, 2016 $40,000
Junior Loan Administrator World Business Lenders, LLC Jersey City, NJ May 07, 2016 $40,000
Junior Loan Administrator World Business Lenders, LLC New York, NY Sep 16, 2015 $40,000
Junior Loan Administrator World Business Lenders, LLC New York, NY Sep 12, 2014 $40,000
Loan Administrator Nonghyup Bank New York, NY Aug 13, 2014 $40,000
Junior Loan Administrator World Business Lenders, LLC New York, NY Sep 24, 2015 $37,482
Loan Administrator World Business Lenders, LLC New York, NY Sep 16, 2015 $37,482
Loan Administrator World Business Lenders, LLC New York, NY Aug 04, 2014 $37,482
Junior Loan Administrator World Business Lenders, LLC New York, NY Sep 16, 2015 $37,000
Junior Loan Administrator World Business Lenders, LLC New York, NY Sep 12, 2014 $37,000
Junior Loan Administrator World Business Lenders, LLC New York, NY May 22, 2014 $37,000

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Top Skills for A Loan Administrator

LoanDocumentsEnsureComplianceFinancialStatementsLoanPortfolioRealEstateLoansCustomerServiceNewLoansLoanOfficersLoanFilesEscrowAccountsUCCLoanApplicationsAuditLoanPaymentsConstructionLoansLedgerLoanClosingsAppraisalTitleCompaniesCreditReports

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Top Loan Administrator Skills

  1. Loan Documents
  2. Ensure Compliance
  3. Financial Statements
You can check out examples of real life uses of top skills on resumes here:
  • Obtain final construction completion documents in accordance with loan documents
  • Work closely with internal and external auditors to ensure compliance with all state and federal laws.
  • Prepared and presented financial statements and analysis.
  • Serviced loan portfolio averaging $20 Million in annual sales revenues.
  • Maintained the booking of all real estate loans for the Americas on a daily basis.

Top Loan Administrator Employers

Loan Administrator Videos

NCUA: Day in the Life of a Credit Union Examiner

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