TITLE:
Loan Operations Specialist
EMPLOYMENT STATUS
Full-Time
FLSA STATUS
Non-Exempt Earnings - based on lending experience
Summary:
A Loan Operations Specialist is responsible for providing various clerical and general office duties in the consumer and commercial lending areas, including, but not limited to answering inquiries, receiving and processing payments and payoff requests, mail and correspondence; reports and settlements; processing loan application paperwork; requesting credit and other reports; photocopying materials; maintaining files; and issuing correspondence. The Loan Operations Specialist also provides support functions for other lending department staff, lending officers, and branch lending staff. The position of Loan Operations Specialist involves exposure to sensitive and confidential customer and bank information necessitating considerable use of tact, diplomacy, discretion and judgment.
Minimum Education/Experience Requirements:
- High school diploma or equivalent.
- Minimum three years previous lending or loan processing experience.
- Ability to speak, read and write fluent English is required.
Major Duties & Responsibilities Review daily edit and balancing reports, monitors loan advances, disbursements and payment processing, books new loans, loan payoffs, billing changes and interest calculations. Responsible for the accurate implementation of existing policies, procedures, governmental regulations and systems involving daily operations and member service functions. Tracks daily work flow. Accurate data entry of new loans, disbursements, payments and payoffs. Obtains information related to the loan origination process including: ordering credit reports, appraisals, preliminary title reports, and flood certificates. Maintains and sets up files on each loan and ensures that the information is complete and accurate before processing. Maintains and enhances contact with insurance carriers and customers regarding questions affecting policies, coverage and related loans, and general information on changes in insurance policies. Responsible for adequate insurance coverage of loans, providing follow-up on policies categorized as current or inactive. Manages files relating to hazard and flood insurance policies. Review new and renewal insurance policies. Assists in the preparation of prefunding packages, loan documentation checklists and other communications necessary to properly document the loan files. May contribute to the preparation of the loan financial spreadsheets. Completes clerical tasks such as filing, photocopying, faxing documents and organizing files and forms. Answers telephone inquiries and written inquiries. Assists customers with routine inquiries regarding payoffs, loan processing, note modifications, and other loan details. Follows up and serves customers promptly and professionally. Prepares commitment letters upon loan approval. Reviews loan documents prepared in-house or by legal counsel for the lending department. Completes HMDA compliance related documents and tracking. Ensures that loan files contain documents with proper signatures, dates and other relevant data. Checks documents for proper vesting, legal descriptions, closing dates and signatures. Maintains new and paid consumer loan files. Performs variety of clerical duties requiring knowledge of departmental procedures. Uses office computers for data input and other activities.
Job Standards And Requirements:
Exhibits ability to deal effectively and tactfully with all types of customers, non-customers and co-workers. Effective listening and spoken communication skills. Aptitude for figures; fundamental arithmetic. Close attention to detail and good organizational skills. Able to adapt smoothly to changes in systems and procedures. Always courteous and friendly when dealing with customers. Ensure the security and confidentiality of private customer and corporate information. Follows established policies and procedures in responding to inquiries and requests. Participation in bank training, including security, sales and service training. Successful completion of required compliance related training within prescribed timelines. Exhibits punctuality, and minimal absenteeism. In compliance with all regulations and bank policies related to job duties. Ability to proofread and make grammatical and spelling corrections on routine correspondence and reports. Ability to project a professional image over the phone and in person. Ability to work independently and manage time efficiently. Understanding and carrying out verbal and written directions. Knowledge of workplace processes, methods, and computer programs. Ability to create documents and spreadsheets using Microsoft Office applications. Ability to meet work output deadlines and daily activities of the office. Proficient in typing, operating a calculator, computer, printer and other office machines. Ability to problem solve. This position requires manual dexterity to operate computer, typewriter and various machinery and keyboards. Employee should be able to go up and down a full flight of stairs. Work Conditions Employee will work in a typical office environment with co-workers and occasional in-person customers. Working hours for the lending department staff range from 8:30 AM through 4:30 PM Monday through Friday.
Job Type:
Full-time Pay:
$20.00 - $27.00 per hour
Benefits:
401(k) 401(k) matching Dental insurance Health insurance Life insurance Paid time off Vision insurance
Work Location:
In person
