Commercial Real Estate Loan Coordinator #13-469
Date Posted: 08/30/2013
This is a full-time position
in the Commercial Real Estate department.
Location of job: Murray - Fashion Place - Murray, UT
We are looking for friendly, energetic people who have the qualifications and skills that match today's opportunity. The Commercial RE Loan Coordinator will be the point of contact for the lending officers and underwriters throughout the due diligence process to answer any questions that may arise. The selected individual must be able to evaluate, process and/or service multiple commercial real estate loans, work independently through complex transactions, indentify issues and concerns, and coordinate the communication of requests with appropriate lending officers to expedite resolution. This position will also be responsible for providing high quality service to clients, meeting goals and standards, and following applicable regulatory and bank compliance requirements. Washington Federal is proud of the high value that we all place on simply being nice when serving our co-workers and Washington Federal clients.
Key functions include but are not limited to the following:
- Prepare loan applications and correspondence to prospective and current borrowers and clients; process draws and close loans, with a focus in construction lending (commercial and single family residential), according to Washington Federal policies, procedures and regulatory guidelines.
- Assign loan numbers, set up account(s) and loan files in accordance with application/commitment requirements.
- Coordinate, maintain and approve all construction budgets, draws, reconciliations, inspections, maturities and extensions.
- Prepare loan files for Loan Committee review, including: commitment/modification and/or declination letters.
- Maintain necessary records and other information necessary to clear title; ensure that Washington Federal and other appropriate parties are in the applicable lien position.
- Verify accuracy of preliminary title insurance, initiate credit and title reports (and updates), setup escrow and appraisal orders for review by the Department.
- Prepare letters of interest, credit requests, Loan Committee cards, payout statements, closing journal and letters of commitment.
- Gain appropriate documentation in advance of all draw disbursements, and ensure loan approval conditions are met prior to funding.
- Prepare monthly and quarterly loan status reports; and exception reports for appraisals, documentation, advance rates and over advances.
- Prepare and ship escrow closing package and coordinate closing with Title Officer and Department Manager.
- Review and approve closing statements and documentation for accuracy, and authorize disbursement, and as needed, explain documents and procedures to purchaser(s) and seller(s) during closing.
- Process loan modifications, payoff requests and facilitate reconveyances, and ensure taxes are paid to date.
- Process appropriate draws and coordinate inspections with third party servicers. Advise Loan Officers of any draw inaccuracies.
- Accurately maintain and update all system records, loan files, records of lot releases and partial payoffs, department policies and procedures manual.
- Perform quarterly file review audits.
- Act as a resource for the commercial real estate lending staff throughout the Company.
- Maintain a working knowledge of Washington Federal policies and procedures as well as regulatory guidelines.
- Maintain current information regarding competitor product offerings, fees and pricing, and apply this knowledge to communicate the advantages of Washington Federal products to loan prospects and referral sources.
- Complete any other job related duties as assigned by manager or supervisor.
Full-time schedule; 40 hours per workweek.
Applicants must have a high school diploma or approved equivalent with a minimum of 5 years of experience in commercial loan processing; preferred industry experience in construction lending. Math aptitude, typing skills (45-50 wpm), 10-key, and filing proficiency is required. Selected candidate will be detail-oriented, possess excellent organizational and communication skills, be able to work independently as well as in a team environment with minimal supervision. Must be able to prioritize workloads, and demonstrate follow through in communicating timeline statuses with lending officers, borrowers, etc.
To apply, please send your resume to: email@example.com or 425 Pike Street, Seattle, WA 98101 Attn: Human Resources. Washington Federal promotes a healthy working environment for all of our employees. To that end, Washington Federal makes it a policy to not offer employment to individuals who smoke or use tobacco products. You must also successfully pass a background check (criminal, credit, and drug testing) to be considered for employment at Washington Federal.
Washington Federal is an Equal Opportunity Employer.