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Become A Loan Documentation Specialist

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Working As A Loan Documentation Specialist

  • Processing Information
  • Interacting With Computers
  • Communicating with Persons Outside Organization
  • Getting Information
  • Performing for or Working Directly with the Public
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Repetitive

  • Stressful

  • $37,710

    Average Salary

What Does A Loan Documentation Specialist Do At Robert Half

* Prepares, reviews and provides top quality, error free loan documents in a consistent and timely manner, utilizing LaserPro software, and adhering to pre-determined turnaround time frames and accuracy level percentages.
* Performs and conducts all necessary due diligence filings, recordings and searches, and regulatory requirements (I.e.
* FEMA, Reg U, Reg B, etc.) as applicable to ensure loan documents conform to approved CRM/WAM, internal procedures and credit policy, while always protecting the bank's collateral position.
* Assists with funding of a loan by ensuring all regulatory requirements are met prior to funding and with conducting a final review of all due diligence and loan documents presented to specialist.
* Prioritizes and processes all loan requests to ensure that loans are efficiently funded, booked and reviewed, as applicable by predetermined funding/booking date.
* Interacts and works with officers, administrative assistants, credit officers, and counsel if applicable to address and identify any discrepancies and or deficiencies with any request for a loan; processes and addresses concerns/questions to develop a solution by analyzing information collected.
* Reviews imaged loan documents and or collateral file for possible missing documentation items pertaining to the loan request and or the borrowing relationship.
* Issues any documents deemed necessary as a result of the collateral documentation review.
* Complies with all applicable federal and state laws and regulations.
* For immediate consideration please contact Alex Gikas at alex.gikas@roberthalffs.com

What Does A Loan Documentation Specialist Do At Western Alliance Bank

* Maintenance of Documentation Log
* Create complete commercial loan documentation packages using LaserPro software, Word templates and pre-approved additional provisions
* Assist Lenders and loan closers with various customer service requests related to commercial loan documentation
* Prepare Amortization Schedules for existing loans when requested by Loan Servicing or Lenders
* Review and understand business entity documents, confirm authorizations to borrow/guaranty, determine approved signers, and draft appropriate resolutions
* Prepares completed loan documentation through loan documentation system in compliance with credit approval, internal policies and procedures, and federal and state regulations.
* Review and analyze loan presentations and apply the approved terms and conditions to loan document production
* Answers the telephone; responds to routine loan officer or lending assistant inquiries relative to documentation requests.
* Maintains files, copies, scans and faxes documents.
* Provides effective customer service and assists in resolving problems within given authority.
* Maintains strict confidentiality of all records and data received and produced.
* High school diploma or one year certificate from college or technical school and;
* Two (2) or more years related loan servicing experience and/or training.
* Commercial lending experience with a working knowledge of all types of loan collateral(cash, promissory notes, inventory, equipment, vehicles, realestate, stock, etc)
* Intermediate knowledge and training in all loan servicing activities terminology, products and services.
* Understanding of revocable and irrevocable family trusts
* Working knowledge of banking laws and regulations
* Strong communication and writing skills
* Organizational and time management skills are critical
* Intermediate skills in computer operation including word processing, spreadsheet and specialty software (e.g., Microsoft Word, Excel, etc.) programs

What Does A Loan Documentation Specialist Do At M & T Bank

* Perform exception processing and research.
* Assist in resolution of complex issues.
* Interact with vendors in support of procedural issues.
* Interpret legal and bank documents for internal processing.
* Responsible for multiple system, business and product lines.
* Performs other duties as requested by management.
* The incumbent works under moderate supervision and exercises reasonable judgment in performing duties.
* Works with internal contacts within department or other M&T departments.
* External contact with attorneys, customers, automobile and recreational finance dealers, vendors, outside agencies

What Does A Loan Documentation Specialist Do At Old National Bank

* Review supporting information and existing loan documents to prepare new and renewed borrower closing documents.
* Communicate with the lender, commercial loan assistant, credit, or other internal departments to resolve issues prior to releasing the closing package.
* Complete thorough pre-closing review of entity organizational documents and collateral information, including UCCs, title searches and/or title commitments, appraisals, environmental due diligence and flood determinations to ensure they have been completed in accordance with commercial guidelines and procedures and ONB loan policy.
* Identify and track documentation exceptions to ensure timely resolution and compliance with Bank policy and regulations.
* Perform second level reviews of critical items to ensure accuracy prior to releasing closing documents.
* Utilize special loan software to produce accurate and complete loan documents.
* Work in multiple commercial and bank systems to gather needed information to solve problems and mitigate risk.
* Work with in-house legal counsel on issues or questions requiring their expertise to complete the loan documents.
* Manage incoming workflow to ensure adherence to service level expectations.
* Provide exceptional customer service to the field and provide timely solutions to problems.
* Contribute to team success with a positive attitude.
* Exhibit flexibility in response to the changing banking environment.
* Perform special projects and other duties as assigned

What Does A Loan Documentation Specialist Do At Midwest Bankcentre

Responsibilities and Tasks % of Time Weight Prepare Loan Documentation 40 40 Loan Processing 40 40 Lender/Lender Support Assistance 10 10 Miscellaneous duties as assigned 10 10 A

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How To Become A Loan Documentation Specialist

A high school diploma or equivalent is typically required for most financial clerk jobs. These workers usually learn their duties through on-the-job training.

Education

Financial clerks typically need a high school diploma or equivalent to enter the occupation. Employers of brokerage clerks may prefer candidates who have taken some college courses in business or economics and, in some cases, require a 2- or 4-year college degree.

Training

Most financial clerks learn how to do their job duties through on-the-job training. Some formal technical training also may be necessary; for example, gaming cage workers may need training in specific gaming regulations and procedures.

Advancement

Financial clerks can advance to related occupations in finance. For example, a loan interviewer or clerk can become a loan officer, and a brokerage clerk can become a securities, commodities, or financial services sales agent, after obtaining the required education and license.

Important Qualities

Communication skills. Financial clerks should have good communication skills so that they can explain policies and procedures to colleagues and customers.

Math skills. The job duties of financial clerks, including calculating charges and checking credit scores, require basic math skills.

Organizational skills. Strong organizational skills are important for financial clerks because they must be able to find files quickly and efficiently.

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Loan Documentation Specialist jobs

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Top Skills for A Loan Documentation Specialist

EnsureComplianceCustomerServiceMortgageLoanLoanApplicationsFHAUnderwritingGuidelinesAppraisalsLoanProductsTitleCompaniesLoanDocumentationProcessRealEstateAgentsLoanFilesLoanOfficersCompanyPoliciesDataEntryCreditReportsAuditHighVolumeConsultantsHud-1

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Top Loan Documentation Specialist Skills

  1. Ensure Compliance
  2. Customer Service
  3. Mortgage Loan
You can check out examples of real life uses of top skills on resumes here:
  • Performed numerous loan documentation duties on complex loan package to ensure compliance with company policies and procedures for loan products.
  • Achieved 100% customer service satisfaction for the month of June 2008.
  • Demonstrated knowledge of correspondent lending business operations and other systems used in mortgage loan acquisitions.
  • Analyzed and evaluated loan applications and credit reports to determine loan qualifications for FHA, VA, and conventional mortgage loans.
  • Processed incoming mortgage loans, including FHA, VA and conventional loans.

Top Loan Documentation Specialist Employers

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