The Loan Documentation Specialist will use software and Word templates to prepare commercial loan documents that accurately represent the loan commitment and terms offered to the borrower. The incumbent will work from the credit memo, loan offering, commitment letter or approval memo to select document required. Depending upon the type of transaction, documents may include promissory notes, loan agreements, mortgages, guaranties, assignments, security agreements, UCC filings, modifications, amendments etc. Completed document package must be accurate, timely, enforceable and must conform to both Bank policies and regulatory requirements.
Responsibilities include, but are not limited to:
Prepare loan documents upon receipt of request from the Lender, review loan approval and related supporting documents. Ensure that all required documents, including insurance information, are provided to properly evidence the loan and perfect the bank's security interest.
Work with Bank's (Medici or LaserPro) software and other related programs to create documents; ensure the timely delivery of documents to lenders and others as directed.
Follow-up with lenders, legal counsel and others for missing items needed to create accurate loan documents.
Perform post-closing follow-up with lenders, legal counsel and others for document exceptions and trailing documents.
Respond to questions concerning loan documentation from legal counsel, lenders and other staff members. Resolve differences and provide direction to others to facilitate the documentation process.
Review "Line of Credit Renewals"; review credit memos, offerings and commitment letters for accuracy and
conformity to existing loan documentation.
Update Bank's (Banker Hill), or equivalent, software with line renewal information.
Responsible for producing and reviewing departmental reports submitted to lenders and senior management; provide information to examiners and answer any related questions.
Record and track fees; create fee sheet to include with loan packages sent to lenders for closing.
Provide support to peers in all facets of the department to perform routine tasks required to run the department and carry out daily various functions.
Review all work assignments for accuracy and completeness, answer questions and provide guidance.
Provide back-up to Title Reviewers by: performing post-closing review of documents for propriety and completeness, following-up with lenders and legal counsel for missing documents, ensuring timely delivery of loans to Note Department for booking purposes and reviewing associated reports for exceptions and missing documents.
Participate in cross training throughout
Commercial Loan Servicing to be able to provide support and assist in special projects.
Extensive knowledge of lending terminology and legal documents used in Commercial Lending.
Knowledge of lien perfection and recording requirements.
Experience in creating loan documents, including modifications to mortgages and mortgage notes.
Ability to read and interpret documents such as loan offerings, commitment letters and procedure manuals.
Ability to review title commitments and policies.
Ability to write routine reports and correspondence.
Ability to use strong interpersonal skills to clarify instructions from lenders, attorneys, and other bank representatives to resolve problems and correct discrepancies that negatively affect the production of loan documents that conform to bank policy.
Basic PC skills including Microsoft Word, Excel. Preferred familiarity with nCino, Miser, Ilien, Baker Hill, Statewide, and First American Flood Data Services software packages.
High School Diploma or GED and a minimum of two years' experience required in Commercial Loan Documentation, post-closing or other related Commercial Lending area.
Associates Degree with related experience and/or Paralegal Certificate preferred.
Valley National Bancorp