Industry: Real Estate
Job Number: 1668957
Pay Rate: $31.00/hour
Commercial Loan Assistant plays a vital role in supporting the Loan Fund Department' s mission to serve as an intermediary, providing innovative financing solutions to rural communities and disadvantaged populations. This position contributes to achieving this mission by ensuring the smooth processing of commercial loan applications, support of origination and closing activities, and the maintenance of loan files in compliance with organizational policies and procedures.
- Thoroughly review and audit new commercial loan applications to ensure completeness.
- Create draft loan documents using Word templates, encompassing all necessary terms for manager and loan officer review and approval.
- Collaborate closely with loan officers, escrow officers, and commercial borrowers to track and monitor the receipt of pre-closing, closing, and post-closing loan conditions.
- Coordinate with title companies, borrowers, and funding sources for the delivery of loan documents and initial disbursements.
- Maintain accurate checklists for loan files and assess compliance with RCAC policies, making recommendations as needed.
- Prepare, distribute, track, and monitor commitment letters.
- Review fully executed commercial loan documents to ensure loan fund readiness.
- Request funds from accounting and initiate ACH and/or wires as required.
- Monitor lock expiration dates when loan participants need to purchase USDA guaranteed portions to avoid late delivery fees.
- Update and maintain Loan Application Processing System, Loan Service Software, and Loan Origination system throughout the loan life cycle stages.
- Complete the final audit of all loan files at loan closing.
- Proficiency in commercial real estate finance, development, and law; familiarity with lending practices and procedures; understanding of the escrow process.
- Significant experience in proofreading and editing commercial loan documents, including security agreements, UCCs, deeds of trust, promissory notes, guarantees, and corporate entity documents.
- Industry Knowledge: Understanding of public nonprofit associations, agencies, and programs.
- Computer Skills: Proficiency with Microsoft Office, Excel, and database systems.
- Outstanding customer service and time-management skills, ability to work independently and as part of a team, effective multitasking and follow-up, attention to detail, ability to follow instructions, and creative problem-solving skills.
- Excellent verbal and written communication skills, along with the ability to communicate professionally.
- Capability to plan, monitor, and manage commercial loan closings effectively.
- Education and Experience: A combination of experience and education is preferred. Three years of applicable experience in the loan origination, servicing, or loan accounting field (education may be substituted for experience).
- Preferred Education: An associate degree in accounting (additional qualifying experience may be substituted for education).
Special Requirements: Possession of a valid driver' s license and proof of insurance meeting minimum requirements may be necessary for business travel purposes.
Must be able to clear a thorough drug screening and criminal background check, provide a minimum of two supervisory references and proper documentation to verify eligibility to work in the USA. Other compliance factors may be involved, depending on position including COVID Vaccination/Boosters. River City Staffing is an Equal Opportunity Employer.
River City Staffing, Inc. (RCS) specializes in the placement of highly skilled administrative and finance and accounting professionals. Whether you are seeking temporary placement, temp to hire or direct hire opportunities, RCS has built our reputation on adding value to each and every candidate we meet. At RCS, you will experience expertise, consultation, follow up, advocacy, partnership and so much more. Contact us today! Www.Rivercitystaf fing.Co m