Loan Processor III

Loan Processor

The Loan Processor is responsible for evaluating, organizing, and managing loan applications from intake through closing. This role ensures all documentation complies with bank policy, credit guidelines, and federal lending regulations.

Essential Functions and Duties

• Documentation Intake & Verification: Collect, review, verify required loan packages, including tax returns, pay stubs, corporate financial statements, collateral records, and entity documents.
• System Processing: Enter accurate borrower and loan data into the Loan Origination System (LOS) and core banking platform.
• Due Diligence & Compliance: Order and analyze credit reports, flood determinations, title commitments, appraisals, entity searches, and background checks in adherence to KYC/AML guidelines and HMDA review.
• Underwriting Support: Clear conditional approvals by gathering outstanding items from borrowers or Loan Officers, ensuring complete file submission to the Credit Committee or Underwriting team.
• Closing Coordination: Prepare loan closing instructions, review draft legal documentation, coordinate closing schedules with title companies and attorneys, and verify pre-closing conditions are met.
• Disbursement & Booking: Review fully executed closing packages, clear post-closing documentation exceptions, initiate loan funding, and hand off files to Loan Operations for booking.
• Portfolio Maintenance: Monitor pipeline status, clear exceptions, and maintaining active communication with loan officers, underwriters, and external third parties.

Qualifications Requirements

• Education: Associate degree or Bachelor's degree in Business Administration preferred or equivalent experience.
• Experience: Minimum Five (5) years of loan processing experience in a banking institution.
• Advance computer skills including but not limited to proficiency in Microsoft Office (Word, Excel, Power Point, etc.)
• Must be bilingual: Spanish or Portuguese is required. Ability to fluently speak, understand, read and write both languages.
• Strong verbal and written communication skills, ability to communicate at all levels of the organization.
• Strong customer service skills, ensuring satisfaction of both internal and external customers.
• Ability to multi-task, with strong organization, time-management and prioritizing skills.
• Ability to work in a team environment, in order to ensuring compliance with department procedures.
• Knowledge of lending activities, banking regulations and lending policies, procedures, practices and techniques.
• Ability to understand and comprehend instructions, procedures and policies ensuring compliance with the Bank's policies and procedures.