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Commercial Lending Assistant I in Newburyport, Massachusetts at Institution for Savings

NewSalary: $30.00 - $35.00/hr
Institution for Savings
Newburyport, Massachusetts, 01950, United States
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Job Description

Commercial Lending Assistant I

The Institution for Savings is seeking a Commercial Lending Assistant I to provide administrative support to Commercial Lenders and assist with portfolio management, pre-closing, and post-closing procedures, prepare and execute funding of loan packages and documentation in accordance with Bank’s guidelines, and work on special projects as assigned by Lenders and VP Loan Operations.

Responsibilities include the following. Other duties may be assigned.

  • Order OFAC, and Flood Certificates, if the property is in a special flood hazard area, assist lenders for follow up and compliance.
  • Complete UCC lien searches and lien filings; maintain UCC tickler and current liens by filing continuations and terminations when needed.
  • Upon approval of a loan, draft commitment letters, assist lenders with loan processing, compliance documents, and maintain the credit/legal files as instructed by the Lender.
  • Assist lenders with documentation review prior to new loan closing to ensure the Promissory Note and documents are consistent with the terms of the approval.
  • Book and fund new commercial loans, monitor files for required documentation and ensure that the loan is in compliance with the original approval and meets compliance standards.
  • Prepares loan closing documentation through Onboard, export loans upon closing and disburse loan proceeds.
  • Ensure all documentation for new requests and existing portfolio is uploaded to the appropriate loan and/or relationship ID. Quality Control (QC) uploads to Synergy when applicable.
  • Prepare Note Modification Agreements and process changes in accordance with approval.
  • Monitor insurance policies.
  • Handle payoff requests and post-payoff process.
  • Complete Service Requests for loan maintenance, line of credit advances, construction advances, auto-pay set up, loan payments, etc.
  • Apply Participation Loan remittances and construction advance disbursements when applicable, ensuring all back-up documentation is uploaded.
  • Take phone calls, messages, and other duties/projects as assigned by Lenders and SVP.
  • Successfully complete annual regulatory training as required by the bank and adhere to all applicable banking regulatory requirements for this position.
  • Follow and track delinquent real estate taxes for commercial loans.
  • Job Qualifications:

    • High School diploma with at least two years of banking experience.
    • Advanced knowledge of the Microsoft Office suite.
    • Excellent written, verbal and interpersonal communication skills.
    • Self-motivated, proactive, and goal oriented.
    • Utilizes strong organizational skills to perform and prioritize a high volume of tasks simultaneously.
    • Embraces the team-oriented culture and works collaboratively throughout the Bank.

    Hourly Pay Range $30-$35

    The salary range listed is just one component of the Bank’s total compensation package. Other rewards include fully paid medical, dental and vision insurance, as well as dollar-for-dollar 401(k) match up to 10%; life insurance; disability plan; pension plan after 2 years of service; generous vacation and paid-time off; and quarterly incentive.

    The Institution for Savings is an Equal Opportunity Employer.

    Member FDIC. Member DIF.

    Job Location

    Newburyport, Massachusetts, 01950, United States

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