Summary of Position
Receives loan documents from loan officers and originators for processing. Processes commercial and consumer applications in accordance with regulations. Types and reviews loan documentation for accuracy. Provides documentation to facilitate loan closings. May work with loan collections.
Responsibilities
- Review commercial/consumer note prep documents.
- Processes commercial/consumer closing documents in accordance with First Community Bank Lending Policy, local, state and federal regulations, investor and insurer requirements and insurance policy
- Performs maintenance on loans (ie. reverse/reapply payments, waive late fees, etc.)
- Verifies adjusted transaction journal
- Prepares incoming and outgoing participation payments/wire transfers
- Process all credit report corrections, deletions and disputes
- Books all new and renewed loans
- Researches and corrects all misapplied payments to individual loans and adjusts loans as needed; comprehensive understanding of loan system and additional loan software systems.
- Updates State of Michigan UCC filings for continuations, amendments, and terminations
- Responsible for preparing participation agreements, computer set-up, processing incoming and outgoing payments and draw requests, and maintaining all purchased participation loan files.
- Prepares discharges, loan payoff requests, subordination agreements and substitution of collateral.
- Produces daily, weekly, and monthly loan reports for management
- Process NSF payments on each loan for each Lender
- Orders appraisals.
- Practices and maintains a thorough audit trail and accurate records.
- Scans discharges, maintenance memos and UCC filings.
- Performs other duties as assigned.
Education and Experience
Associates degree in accounting, finance or business administration and/or four years of prior business experience in a field directly related to loan processing. Strong technical, math and reasoning skills. Ability to produce accurate data while working in a fast-paced environment. Ability to problem solve. Accuracy with calculations. Phone and customer service skills. Ability to work in a team environment. Ability to stay compliant with all financial regulations, BSA training and financial compliance training. FCB is an EOE.
