Loan Document Specialist Job Description
Loan Document Specialist Duties & Responsibilities
To write an effective loan document specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included loan document specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
Loan Document Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Loan Document Specialist
Typically a job would require a certain level of education.
Employers hiring for the loan document specialist job most commonly would prefer for their future employee to have a relevant degree such as High School and Associate Degree in Finance, Business, Associates, Education, Math, Communication, Paralegal, Writing, Guidance, Technical
Skills for Loan Document Specialist
Desired skills for loan document specialist include:
Desired experience for loan document specialist includes:
Loan Document Specialist Examples
Loan Document Specialist Job Description
- Update Jack Henry financial tracking, and prepare financial needs letters annually
- Provide assistance as needed to Credit Administrator
- Accurately identifies each loan document and places a document sheet identifier on each document being imaged
- Participate in special projects as assigned by the supervisor and/or department manager
- Review closed and booked loan packages and related documentation checklist(s) verifying presence, accuracy, completeness, and proper execution of all CDP and lender prepared less complex consumer and commercial loan, security and compliance documents and correspondence, and ensure required external documents have been submitted
- Review and interpret loan applications and related data to determine collateral classifications and to ensure appropriate documents were prepared to perfect lien
- Identify and cite all loan, security and compliance exceptions utilizing appropriate documentation checklists
- Research, review and determine if lender submitted documentation is adequate to remove/close exceptions and system generated ticklers
- Communicate with lenders, loan assistants, and loan operations personnel, when necessary, to gather further information to accurately review packages and cite or close exceptions
- Auditing and interpreting policies
- Minimum of 2 years clerical, administrative, or customer service experience preferred
- Above 8,000 keystrokes per hour alphanumeric and tenkey
- Must be able to adapt to a constantly changing work environment
- Must be willing to submit to a criminal background check
- A minimum of one year banking experience, preferred
- Understanding of the various legal entities, required documentation for the different types of entities, signature requirements
Loan Document Specialist Job Description
- Reviews loan documents to ensure documentation is approved an in compliance with regulations and company policy
- Conducts reviews of perfected loan documents to verify accuracy and compliance with regulations and bank policy
- Provides customer service support primarily to internal customers
- Maintains knowledge of current lending policies, procedures and regulation
- Accurately enters collateral data into collateral management system
- Remains up-to-date on all documentation, regulatory, and lien perfection requirements in order to ensure loan quality
- Cross-trains on all area support duties
- Obtain and analyze information necessary to process mortgage applications, including credit reports, income documentation, assets, title work, appraisals, and any other pertinent information
- Effectively communicate with underwriting, docs, funding, post-closing and other internal departments to ensure loans are completed accurately and are sufficient for purchasing
- As a DCS Document Review Specialist, you will be reviewing mortgage documents from various customers of Document Custody site
- Minimum four years residential real estate closing experience, or combined closing and post closing review, preferably in a high net worth environment
- Commercial loan processing and/or closing experience
- Must know commercial loan documents and OnBase
- Basic knowledge of balancing or bookkeeping
- Knowledge of all types of consumer and commercial collateral security, including real estate, and lien perfection requirements (2 years)
- Knowledge of loan compliance regulations (2 years)
Loan Document Specialist Job Description
- Report Generating
- Labeling Files
- Organize Carts
- Ensure adherence to internal controls
- Review and reconcile executed closing and compliance documents to ensure accuracy, proper signatures, proper notary seals, dates, and overall completeness
- Assists with compilation of customer files and other related routine support duties for the individual departments
- Completes general filing and maintains inventory systems, supply orders, and performs necessary clerical duties relevant to the area
- Informs Bank Lender of existing Consumer Identification Program (CIP) and/or Fair and Accurate Credit Transactions (FACT) exceptions that may hinder delivery of loan documents if not resolved
- This role is the first step in processing for commercial loans
- Deals directly with banker/cust to complete financial package to move it to underwriting
- Knowledge of business entity structures preferred
- Ability to proficiently communicate applied collateral/loan policy/regulation knowledge to lenders/assistants
- Equivalent job related experience
- Strong Alphanumeric and 10 key Data Entry (8,000+ kph )
- Great attendance and punctuality on a daily basis
- May file UCCs for recording via automated system
Loan Document Specialist Job Description
- Once underwriter gets it the goal is to have all info so decisioning is quicker
- Independently assess and gather information necessary to document a loan
- Read and understand organizational documents to determine signing authority
- Document loans, perfect collateral, and fund loans
- Obtain lien searches and perfect collateral
- Monitor post-closing loan requirements that pertain to the collateral
- File and maintain collateral files
- Request insurance certificates from insurance agents
- Enter, monitor and track tickler items
- Make copies of reports and distribute and perform other clerical duties as assigned
- 1+ years of work experience in business environment (Preferred--paid training is provided-no direct experience required!)
- 2-5 years current experience in processing residential home loans (emphasis on conventional, FHA, and VA products preferred)
- Bachelor Degree in Economics, Finance, Business Administration
- Minimum four years residential real estate closing experience, or combined closing and post closing review with strong knowledge base with closing disclosures/HUD, preferably in a high net worth environment
- College Degree or Equivalent Work experience in a Financial Work Environment
- Familiarity with Mortgage Documents
Loan Document Specialist Job Description
- Will be contact vendors but will not have direct contact with customers
- Receive work through a queue origination system that they use
- Work is stop and go
- Compare the client’s credit agreement against credit approval
- Interact with the LOB and Credit Risk Management in documenting variances and/or follow through on amendments of credit agreements
- Coordinate required updates identified during the documentation review
- Track and confirm completion of an updated loan approval for variances identified
- Verifies completeness and accuracy of requested application changes
- Document work process procedures on a quarterly basis
- This position will support the consumer Flood and Hazard Quality Control department to ensure accounts are documented and serviced in an efficient and accurate manner and that the Lender's and customer's expectations are met or exceeded
- Knowledge in area of Loan Processing, Loan Closing, residential lending, and TRID regulatory requirements
- Experience with the use of Microsoft Office products, web based applications, and ability to work on multiple monitors
- Basic knowledge of bank services and products desired
- Banking operation experience preferred with familiarity with various types of loan documentation (consumer, commercial & mortgage)
- Office experience working in a clerical-type capacity desired
- Familiar with FEMA Flood Insurance Program a bonus!