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Senior Loan Assistant

Senior Loan Assistant

Job Type: Full Time, In Person

Schedule: Monday-Friday

Location: Cleveland

Starting Rate: $27.50/hour (negotiable based on experience and education)

 

Summary

We are seeking a detail-oriented Loan Assistant to support the preparation and documentation of residential real estate and consumer loans. This position ensures the Bank’s security interests are properly perfected, maintains regulatory compliance, and delivers exceptional service to lenders and their clients. The Loan Assistant will also facilitate daily servicing of closed loans, contributing to efficient operations through professional client support, compliance oversight, and strong balancing and control functions. Candidates should be fully knowledgeable in loan documentation processes and will be expected to provide leadership, training, and guidance to less experienced team members while supporting the Loan Administrator in achieving departmental goals.

 

Essential Duties

  • Prepare all documents needed to close a loan and perfect the Bank’s security interest using the information supplied by the lender. Reviews all documentation ensuring compliance with legal, regulatory agency and Bank policy requirements. Notifies the Loan Officer of collateral or technical deficiencies. Provides technical advice, explaining the possible ramifications of the deficiencies and resolves those issues before processing the loan documents.
  • Deliver completed documents to Loan Officers, as scheduled, for closing.
  • Review closing documents before being released for signature.
  • Assist in identifying loan tickler items necessary to complete loan files and update the tickler system to reflect new or completed items.
  • Upload information to loan origination software and to underwriting systems for secondary market real estate mortgages.
  • Support processing paid off loans on a timely basis and determine documents and procedures required to release recorded collateral instruments, prepares required documents and/or signatures for lien release, records with proper agency and/or mails paid documents to client and notifies Loan Servicing Rep of maintenance required for the file and scanning software.
  • Perform system maintenance requests to update client loan information as submitted by other lending personnel.
  • Answer questions from lenders and clients regarding existing loans on the system.
  • Assist in maintaining the system used to track real estate taxes and escrows for leans serviced by the Bank.
  • Perform all escrow related activity including escrow set-up, payments and annual analysis.
  • Help in maintaining file of information for new customers to assure compliance with the Customer Information Policy (CIP).
  • Prepare and process loan department and general ledger entries for loan transactions.
  • Assist Loan Servicing Representative in maintaining an organized loan file vault by following bank’s procedures for filing documents timely and orderly.
  • Provide backup coverage for all loan servicing functions as needed to accommodate shifts in workflow, deadlines, and temporary staff changes.
  • All other duties as assigned by supervisor.

 

Minimum Requirements

  • Must possess a thorough understanding of Bank policy, specifically lending policy, laws and regulations, and procedures pertinent to the lending function.
  • Effective verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions, interpret documents, understand procedures, write reports and correspondence, and speak clearly to clients and employees.
  • Skill in problem identification, analysis, research, resolution and utilization of resources to achieve objectives.
  • Demonstrated skill in establishing work priorities, organizing work and meeting deadlines.  Capable of working under time constraints and handling a variety of duties under general supervision.
  • Detailed loan documentation knowledge.
  • Skill in performing daily tasks and achieving objectives while working under minimum supervision.

 

Qualifications

  • Maintain the highest level of confidentiality and discretion regarding client and bank information.
  • Technical knowledge and proficient utilization of the following computer systems and software programs:
    • Encompass Ellie Mae & Compliance One Lending
    • Microsoft Word
    • Microsoft Excel
    • Microsoft Outlook
    • Core Director/SilverLake
  • High School diploma.
  • Minimum five years of loan experience with a knowledge of loan documentation, preferably Encompass Ellie Mae, along with proficient knowledge of banking policies, procedures and terminology.
  • Prior supervisor experience is preferred.

 

Working Conditions

  • Normal office environment. Length of workday is unpredictable, depending on volume of business and department activities.
  • Periodic travel to other branch offices could be requested.
  • Frequent visual effort is required. Up to 90% of the workday is spent on a computer monitor and/or with written or computer-generated paper documents.
  • Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
  • Must be able to accommodate reading documents or instruments, detailed work, problem solving, client contact, verbal and written communication, analytical reasoning, stress, training, multiple concurrent tasks, and periodic interruptions.

 

Benefits

  • 401(k)
  • 401(k) matching
  • Dental insurance
  • Flexible spending account
  • Health insurance
  • Life insurance
  • Paid time off
  • Vision insurance

 

 

*Management reserves the right to change this job description at any time according to business needs.