Loan Documentation Specialist

Benefits

• 401(k) matching
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Loan Bud is growing in New York, NY and we have an exciting opportunity for the right candidate to join a great team. We seek a Loan Documentation Specialist to assist Loan Bud Business Lending Officers and borrowers in processing and closing SBA and other commercial loans.

The position assists customers, lenders, and lending officers with the processing and closing of SBA and other commercial loans, including interfacing with borrowers and referral partners from loan submission to funding, collecting and reviewing documentation per program requirements, coordinating and processing loans in accordance with lender guidelines, and ordering and collecting 3rd party reports.

• Collaborates with internal staff including Business Lending Officers to process and close loans in a timely manner.
• Reviews the loan file and prepares a list of items required to close and fund the loan.
• Communicates the requirements and loan status clearly and concisely.
• Prepares loans for submission in accordance with lender guidelines and requirements.
• Calculates business and/or global debt service coverage ratios.
• Opens Title and orders preliminary title reports as required; reviews title reports and makes changes as necessary.
• Reviews and accepts entity documentation such as articles, by‑laws and partnership and LLC documents.
• Ensures compliance and adherence to SBA Standard Operating Procedures (SOP) and lender credit policy.
• Determines insurance requirements and obtains hazard/flood/liability insurance as required.
• Reviews loan applications and determines initial eligibility.
• Prepares and completes loan document requests; ensures that loans are documented correctly to ensure conformance with lender approvals and conditions.
• Coordinates closings with borrowers, referral partners and business lending officers.
• Maintains accurate pipeline reports; meets monthly loan closing and loans in pipeline goals.
• Performs other duties as assigned.

• Deadline Oriented – the individual acts with a sense of urgency to prioritize and hit required deadlines.
• Analytical – the individual synthesizes complex or diverse information.
• Problem‑solving – the individual identifies and resolves problems on time and gathers and analyzes information skillfully.
• Communication – the individual speaks and writes clearly and persuasively in positive and negative situations, demonstrates excellence in telephone etiquette, customer service, and business communication skills.
• Leadership – the individual inspires and motivates others to perform well, accepts feedback from others.
• Quality management – the individual looks for ways to improve and promote quality and demonstrates accuracy and thoroughness, including the ability to proofread documents for accuracy.
• Judgment – the individual displays willingness to make decisions, exhibits sound and accurate judgment, and makes timely decisions.
• Planning/organizing – the individual prioritizes and plans work activities, uses time efficiently, and develops realistic action plans.
• Safety and security – the individual observes safety and security procedures and uses data and materials properly.

• Associate’s degree or higher.
• Four years’ experience in loan processing or four years of combined professional experience and education in a related field.
• Knowledge of SBA loans or prior lending experience.
• Proficient use and understanding of MS Office products (Word, Excel, Outlook).

Loan Bud values their employees and provides equal employment opportunities to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law.