|Date Posted||September 8, 2020|
Make Dreams a Reality within our Communities
Responsible for a variety of functions necessary to support the commercial loan origination process and ongoing servicing of the commercial lending portfolio, with particular focus on documentation. Supports and interacts frequently with lenders and other departments to meet deadlines and requirements to prepare accurate and complete loan documents for the loan closing. Maintains working knowledge of commercial loan concepts, policies, procedures, government lending programs, SBA, FSA, and governmental & fiduciary laws (OFAC, Patriot Act, Beneficial Ownership).
Credit Culture – Lending Division
The Board of Directors has established the following credit culture, which is fully supported by management. Wayne Savings Community Bank (the Bank) will provide loan products to all credit worthy customers without discrimination who have ties to the general lending area we serve. All loans will be for lawful purposes utilizing a loan structure that is in alignment with established policies procedures and bank risk appetite. Compliance with all applicable laws, policies and procedures, and regulations is mandatory and unethical or deceptive lending practices will not be tolerated.
Management will strive to cultivate a banking relationship with all our customers to provide for all of their financial needs. The primary source of repayment for all loans (with limited exceptions) should be derived from the borrower’s income. While collateral is generally viewed as a secondary source of repayment, the Bank believes all loans should be adequately protected with assets. The exception would be to financially strong borrowers who warrant unsecured credit. The Bank is generally conservative in its underwriting practices but will on a case-by-case basis approve riskier loans; however, the increased risk must be reflected in the loan structure, rate and fees. While all loan types will be considered, we currently do not entertain labor intensive loan products, such as, asset-based credit facilities requiring additional monitoring via a borrowing base, inventory floorplan lines of credit or indirect loans.
Essential Duties and Responsibilities include the following. Other duties may be assigned.
*Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions
Internal/External Customer Service Duties:
• Communicates frequently with lenders to obtain required documentation.
• Answers phone calls, emails, and faxes as needed.
• Works with and responds to other departments’ requests, including questions regarding auto pay, escrow, insurance, taxes, loan transfers & payments, loan payoffs, construction draws, and in-process loans.
Commercial Lending Support Duties
• Prepares commercial documentation related to loan closing including but not limited to commercial loan agreement and other collateral documentation as set by the loan approval and commercial guidelines.
• Identify exceptions and obtain approvals
• Review title commitments, agreements (title, rental, operating, trust), purchase contracts, and any other legally binding documentation to ensure loan documentation compliance.
• Verifies mortgages, conducts lien searches, and verifies loan payoffs.
• Verifies all necessary loan documentation is completed and included.
• Coordinates loan closings, including contacting title agencies, appraisers, lawyers, insurance and other banks.
• Onboard/book commercial loans in the commercial loan system, including the recording of all applicable documents (mortgages, UCC’s, vehicle title liens, deposit holds.
• Verify loan proceeds are funded to appropriate parties.
• Maintain a working understanding of commercial credit underwriting duties.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Associate’s degree (A.A.) or equivalent from a two-year college or technical school; or six months lending/lending support experience or one year banking related experience and/or training; or equivalent combination of education and experience.
Preferable knowledge of the banking computer system and commercial loan documentation. Experience with Compliance One and Banking Computer Systems.
Notary or ability to obtain a Notary within 9 months.
To perform this job successfully, an individual should have a strong knowledge of Excel and Word. Must be willing to actively learn various banking programs.