Commercial Loan Processor Job Description

The Commercial Loan Processor calculates and processes payoffs, and releases titles and insurance interest. Processes loan payments and applies funds to customer accounts. Being a Commercial Loan Processor responds to customer inquiries and requests for net payoff quotes. Calculates and prepares refunds for customers that submit overpayments. In addition, Commercial Loan Processor may require an associate’s degree or its equivalent. Typically reports to a supervisor or manager. Being a Commercial Loan Processor gains or has attained full proficiency in a specific area of discipline. Works under moderate supervision. Working as a Commercial Loan Processor typically requires 1-3 years of related experience.

Commercial Loan Processor Job Description Template

Our company is looking for a Commercial Loan Processor to join our team.

Responsibilities:

  • Maintain strong relationships with co-workers and lending staff;
  • Generating documents for consumer and commercial loan closings;
  • Management of Tickler system and documentation tracking;
  • Additional duties as assigned by management;
  • Input and maintenance of loan information on core system;
  • Payment and payoff processing;
  • SBA loan processing;
  • Experience with LaserPro, Fiserv and Commercial/SBA Lending preferred but not required;
  • Maintain detailed checklists to deal files for internal audits during loan process;
  • Prepare application packages for submission to borrowers and lenders;
  • Coordinate loan requirements with third party vendors, attorneys, and escrow companies.

Requirements:

  • Strong oral and written communication skills;
  • Strong attention to detail;
  • Desire to work on a high performing team that strives for continual improvement;
  • Two-year degree preferred;
  • Ability to work in a fast-paced environment while maintaining accuracy and efficiency;
  • Ability to prioritize, manage multiple projects and multi-task, while meeting deadlines;
  • Minimum 5-yrs commercial real estate loan closer, has experience with all products types including multi-family, retail, office and NNN transactions;
  • Closer has worked with all types of entities and has relationships to get various types of entity info on an expedited basis from state agencies;
  • Communicate effectively with borrowers, loan originators and lender’s underwriting team to ensure timely closings;
  • Closer has worked with all types of lenders, commercial banks, credit unions, CMBS, and Life Insurance companies.