Commercial Loan Documentation Specialist

12 month W2 contract role for a Loan Documentation Specialist in Wayne, NJ

Manage a very active loan pipeline, performing detailed due diligence reviews, processing approved loan requests, and delivering a completed loan document package to the lender and the customer as soon as possible. Experience leading deals with lending groups is critical.  Coordinating all aspects of the day of close, creating and executing a funds flow memo, booking the loan in the bank’s core books and records system, and ensuring all approvals, loan documentation, and collateral are properly perfected and protected. 

Responsibilities

• Coordinate the preparation of new and renewed loan documentation following standards on approved minutes.
• Manage stakeholder relationships to ensure legal counsel, Relationship Manager, and Operations are aligned for timely, compliant loan closings.
• Order tax service and flood certificates on all real estate loans and track property tax delinquencies.
• Transmit prepared loan document packages to the lenders.
• Translate critical aspects of the loan documents into a workflow tool for interpretation and booking by Loan Operations.
• Coordinate with co-lenders or other participant banks, handling all pre-closing Agent Bank responsibilities.
• Build a deal pipeline, manage deal closing dates, and monitor all critical data points.
• Send original recordable documents to the title company for recording upon receipt of signed documents.
• Upload all documents using proper indexing rules to the Bank’s central document repository.
• Perform UCC searches from the Secretary of State to identify prior liens and file UCC on commercial loans.
• Manage and verify payment of all vendor bills promptly.
• Verify the accuracy of all exception tracking systems and reports.
• Balance good-faith deposit accounts, monitor aging of cash breaks, and reconcile suspense accounts.
• File original loan documents in appropriate files within a secure vault.
• Review UCC 1 filing for termination or continuation.
• Work closely with loan collateral manager and lenders to ensure proper documentation is received and recorded.
• Address inquiries from internal and external counsel on a timely basis.
• Analyze loan documents for pre-payment penalties, unused fees, participant or co-lender details, and other covenants.
• Coordinate with Relationship Manager, underwriting, and centralized credit unit to ensure proper documentation levels and alert them to any deficiencies or irregularities.
• Drive positive change in the overall Operations organization by collaborating across departments to improve processes.

Skills & Experience

• Advanced math aptitude and proficiency.
• Excel & MS Suite experience required.
• Exceptional customer service skills and experience.
• Demonstrated proficiency in performing high-quality work under high stress and tight deadlines.
• High learning agility.
• Advanced computer skills including MS Office.
• Strong organizational skills required.
• 0-3 years related experience or equivalent combination of education and experience.