Loan Processor

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Belmont Annex, Chicago, IL, US

3 days ago Requisition

Salary Range: $60,000.00 To $70,000.00 Annually

Belmont Bank & Trust is seeking an experienced Commercial Loan Processor to join our team. The successful candidate must have a strong understanding of loan processing, excellent organizational skills, and the ability to manage multiple loan files while ensuring accuracy, regulatory compliance, and exceptional customer service.

Eligible employees will receive medical, dental, and vision insurance, paid time off, paid holidays, retirement savings plans with 6% employer contributions, life and disability insurance, tuition assistance, and professional development opportunities.

The Loan Processor’s primary responsibility is to assist loan officers with bringing approved loans to funding by working closely with loan applicants and third parties, such as appraisers, title companies and attorneys. The Loan Processor ensures the completeness of the loan file and prepares preliminary, closing and renewal loan documents in accordance with the approved terms, bank’s policies, and in compliance with federal and state regulations.

The individual often works with little supervision and engages in judgment calls and decision-making.

• Drafting loan documents using Laser Pro® software in accordance with the approved terms and policies, and in compliance with federal and state regulations.
• Scheduling and coordinating closings.
• Carrying out closings either on-site or at a client’s location and submitting documents from said closings to title companies for recording and final title insurance policy.
• Funding of loans via wire, check or disbursement into client’s depository account and approving final disbursement with escrow agents.
• Ensuring that funded loan files are complete and ready for booking onto bank’s loan accounting system.
• Requesting title searches, title policy commitments, UCC searches, insurance certificates, articles of organization, operating agreements, trust agreements, corporate by-laws and legal opinions.
• Analyzing documentation requested above to ensure bank’s collateral position can be perfected.
• Analyzing general liability, hazard and flood insurance certificates to ensure adequate coverage.
• Running OFAC checks and collecting information in accordance with Bank Secrecy Act.
• Post‑funding tracking and review of documents perfecting the collateral.

Education/

Experience:

High school diploma or equivalent is necessary. Minimum two years of loan closing/documentation or related experience is required. Experience with Laser Pro® or similar loan documentation software is preferred.

Language Ability: Strong written and verbal skills are necessary. Candidate must be people‑friendly with good communicative and interpersonal skills. The individual must be able to respond to inquiries from and coordinate between multiple parties.

Math Ability: The Loan Processor should be able to calculate interest accrued, pay‑off amounts, penalties and percentages, balance closing statements, and apply basic accounting principles as necessary.

Reasoning Ability: The ability to solve practical problems with many variables, often in situations where only limited standardization exists, is necessary. The Loan Processor must deal with an array of inquiries from other lending personnel, clients, escrow agents, and attorneys. The candidate must read, analyze, and interpret a variety of loan documents, legal entity organizational documents, title and insurance policies, and bank’s internal policies and procedures.

Computer

Skills:

Strong PC skills including word processing, spreadsheet, presentation, internet, and internal software are necessary. Laser Pro or other loan documentation software experience is preferred.

Certificates and Licenses: None are necessary.

Supervisory Responsibilities: No supervisory responsibilities are associated with this position.

Work Environment: The work environment characteristics…