Senior Commercial Loan Documentation Specialist

Michigan Business Connection, LC - Ann Arbor, MI (30+ days ago)


IDEAL CANDIDATE WILL HAVE 10 YEARS IN COMMERCIAL DOCUMENTATION POSITIONS WITH CONSTRUCTION AND SBA LOAN EXPERIENCE.

Job Title: Senior Documentation Specialist

Department: Documentation

Reports To: Documentation Manager

FLSA Status: Exempt

Hours 7:30/8:30 am – 4:30/5:30 pm Monday – Friday*

LocationAnn Arbor, MI 48105*, day travel and some overnight travel required

SUMMARY

This position will be accountable and responsible for due diligence, documentation, and closing coordination for MBC and Credit Unions served.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

Demonstrate enthusiasm for MBC core values: Teamwork, Accountability, Integrity, Innovation and Leadership.

Support loan documentation and closing function while maintaining, expanding and building relationships, resulting in a high degree of customer satisfaction.

  • Work with business development officers, loan officers and borrowers to obtain due diligence required to document and thereafter close loans.
  • Prepare loan documentation for new loans, renewals, and modifications ensuring compliance and safe and sound practices for various loan types including Commercial Real Estate Mortgages, Line of Credits, Term Loans, Construction Loans, and SBA Loans.
  • Organize loan files, prepare and maintain needs list, and follow-up as required to ensure receipt of all necessary documents.
  • Manage due diligence needs for loans including the ordering of surveys and title insurance demonstrating knowledge, discretion, and independent judgment in dealings with Credit Unions and Loan Officers evidenced by recommendations of proper levels of due diligence based on deal factors.
  • Request and track orders for third party due diligence such as title reports and insurance to ensure timely receipt.
  • Assist business development officers, loan officers, credit analysts and portfolio managers, in clearing pre-funding conditions.
  • Coordinate final preparation of loan documents and closing procedures with applicable parties
  • Conduct pre-closing file reviews as needed
  • Facilitate loan funding from Credit Unions.
  • Prepare wires and coordinate disbursement of loan proceeds
  • Receive and audit executed closing documents
  • Follow-up as required to obtain post-closing documents such as recordings and final policies and policy exception items
  • Prepare and audit the physical and electronic loan files to ensure both are complete and accurate
  • Develop and transmit electronic shadow loan files for loan servicing and applicable credit unions.
  • Review construction draws and prepare the construction draw request form for approval by Documentation Manager and Portfolio Management.
  • Work with Underwriting and Portfolio Management departments to transition deals as quickly and seamlessly as possible between groups.
  • Perform other related duties as required and assigned
  • Demonstrates behaviors which are aligned with the MBC's desired culture and values
  • Independently identify, research, and offer solutions for documentation and due diligence issues that arise.
  • Negotiate loan document changes while preserving the necessary rights and remedies to mitigate the risks of a loan default.
  • Ability to achieve high production and quality standards.

Engage in visible demonstration of leadership qualities.

  • Partner with and provide guidance, training, and support to Documentation Specialists, Credit Union Staff, MBC Loan Originators, Portfolio Managers, Loan Servicers, Credit Analysts, Financial Analysts and Interns.
  • Initiate policy development discussions within the department and potentially with MBC Senior Management team in areas where documentation is involved.
  • Proactively contribute within MBC beyond respective line of business responsibility through demonstration of leadership and personal action.
  • Proactively engage in industry events and maintain awareness of industry news and happenings through monitoring trade publications, regulatory websites and communications.
  • Engage in business community or social community efforts to reinforce image of MBC or Credit Unions. MBC will support activities with reasonable time and money.

SUCCESS MEASUREMENTS:

Success in this position is primarily measured as the accuracy of the documents produced compared to the underwriting documents, the timeliness of moving loans to closing and the minimal document exceptions in post loan review.

SUPERVISORY RESPONSIBILITIES

None

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the minimum knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE

Bachelor's degree (B.A. or B.S.) from four-year college or university; or equivalent combination of education and experience. Minimum five years of commercial credit or support experience required.

LANGUAGE SKILLS

Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before members or employees of the organization.

MATHEMATICAL SKILLS

Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.

REASONING ABILITY

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; and talk or hear. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The work environment is a typical office environment.

The noise level in the work environment is usually moderate.

Job Type: Full-time

Salary: $55,800.00 to $72,000.00 /year