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Commerical Loan Processor

Vaco
$45,000.00 - $60,000.00 / yr
United States, Ohio, Greenville
Nov 19, 2024

Department: Commercial Loan Processing


Reports to: Loan Operations Manager

Summary: Enter loan data, and/or verify loan data input by Loan Originator, using Loan Origination System. Obtain or verify: appraisals, flood certification and underwriting documents and title exams. Assemble and verify all documents for accuracy. Produce closing documents in forms system. Board closed loans into bank Core system. Work directly with Loan Originators, appraisers, attorneys, realtors, insurance agents and contractors. Oversee the commercial loan servicing of closed loans.

Job Requirements:
  • High school diploma or equivalent.
  • Associates/Bachelors degree preferred
  • Five years of experience in loan processing
  • Knowledge of Federal Regulations for lending
  • Successful completion of in-house training program
  • Good understanding of financial institution products and services

Specific Job Functions
Main contact for Loan Origination software (Abrigo) with respect to loan documentation prep (LaserPro)
Review application submitted by Loan Originator to understand transaction.
Meet weekly with commercial Loan Originator team to discuss and manage current pipeline
Obtain Flood Determination if applicable
Order Appraisal; deposit appraisal fee into the appropriate General Ledger account
Upon receipt of Appraisal forward to the Loan Originator
Order Title Exam
Order payoffs
Upon receipt of title opinion review vesting, liens, taxes, defects, etc. Email to Loan Originator for review
Prepare closing documents, deliver to Loan Originator for review.
Ensure prepared closing documents are accurate (review prior to LO)
Complete funding sheet, print checks and prepare file for closing
Disburse loan, send wires, deliver payoffs, and send mortgage and deed for recording
File UCCs.
Manage construction loan inspections and disbursements
Perform processing duties for other processors when they are out of the office, i.e. vacation
Scan all loan related documents on a timely basis
Prepare mortgage releases/release UCCs as loans are paid off.
Post payments to DNA as needed.
Serve as the primary contact for all commercial borrower loan questions.
Responsible for commercial loan types with respect to core system. Have ability to create cases as needed.
Track insurance and request updated policy information to ensure that all loans have current evidence of insurance at all times.

Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.

EEO Notice

Vaco is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law.

Vaco LLC and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco LLC and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com .

Vaco also wants all applicants to know their rights that workplace discrimination is illegal.

By submitting to this position, you agree that you will be giving Vaco the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal.

Privacy Notice

Vaco LLC and its parents, affiliates, and subsidiaries ("we," "our," or "Vaco") respects your privacy and are committed to providing transparent notice of our policies.

  • California residents may access Vaco's HR Notice at Collection for California Applicants and Employees here.
  • Virginia residents may access our state specific policies here.
  • Residents of all other states may access our policies here.
  • Canadian residents may access our policies in English here and in French here.
  • Residents of countries governed by GDPR may access our policies here.
Pay Transparency Notice

Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to:

  • the individual's skill sets, experience and training;
  • licensure and certification requirements;
  • office location and other geographic considerations;
  • other business and organizational needs.

With that said, as required by local law, Vaco believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.

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