Loan Coordinator

1st Southwest Bank
Published
August 2, 2022
Location
Durango and Mancos, Colorado
Category
Job Type

Description

POSITION SUMMARY:

Loan Coordinator will be responsible for coordinating all activities for consumer transactions from application to closing. Consumer loan officers will take applications and determine product and pricing; once application has been received credit package will be passed over to the loan coordinator to work. This position will perform a variety of tasks to assist Branch Managers/Personal Bankers and operational departments including document collection, ordering appraisals, title and flood certification to preparing the file for processing. This position must develop and maintain an understanding of the proper documentation of various forms of residential loans; and ensure timely delivery of all required disclosures. Coordinator will help to promote a positive work environment by working as a team to ensure all areas are covered and all loans are completed in a timely manner.

ESSENTIAL FUNCTIONS

  • Review consumer real estate loan applications, start internal workflows, and manage loan process.
  • Collect and review documents for consumer real estate transactions for accuracy and compliance.
  • Perform file review and prepare file for underwriting and processing.
  • Manage communication to Loan Officer, Loan Operations, Credit Department, and Borrower (s).
  • Notify applicable parties of incomplete transaction information or corrections needed.
  • Manage verification of intent to proceed and understand when a Change of Circumstance will be needed for re-disclosure.
  • Order Title, Flood, and Appraisals; collect flood/hazard insurance as required.
  • Review and manage delivery of all disclosures and loan documents to adhere to compliance timelines.
  • Scan and ensure electronic files are imaged and complete post-closing.

 

SECONDARY DUTIES

  • Issue Notice of Incomplete Application Notifications and Adverse Action Notices
  • Escrow account reviews
  • Clear Technical Exceptions related to consumer real estate loan files
  • Assist with audits, file reviews, and compliance monitoring
  • Any other duties/special projects as assigned by Consumer Lending Director

 

 

 

BSA Requirements:

It is the responsibility of all employees to make all reasonable efforts to identify suspicious cash activity which may be associated with customer attempts to avoid the reporting requirements of the BSA or government or federal tax reporting, as well as potential money laundering resulting from criminal / illegal activities. All suspicious activity, regardless of the amount involved in the transaction, must be reported to a supervisor or Branch Manager for further investigation and possible reporting by the Bank Secrecy Officer to the Financial Crimes Enforcement Network (FinCEN).

No director, officer, employee, or agent who reports a suspicious transaction under the requirements of the BSA may notify any person involved in the transaction that the transaction has been reported.

Each employee of the bank shall be required to complete Bank Secrecy Act / Suspicious Activity training periodically which is commensurate with the duties of their position.

KNOWLEDGE AND SKILL REQUIREMENTS

  • While performing duties of this position, the employee will view, have access, and work with confidential financial data. The employee in this position must adhere to strict confidentiality policies and procedures.
  • Communicate in order to resolve issues that are inconsistent with guidelines
  • Customer-service oriented
  • Demonstrated ability to work with a pleasant, reliable, and responsible approach
  • Knowledge of credit application, Credit reports, and mortgage application documents including compliance
  • Customer-service oriented
  • Demonstrated ability to work with a pleasant, reliable, and responsible approach
  • Interpersonal skills - effective
  • Knowledge of credit application, Credit reports, and mortgage application documents including compliance
  • Facilitates Communications – Managing Expectations and File Timelines: Maintain continued communication with the borrower and the loan officer regarding any change of loan status as it pertains to documentation needs in cooperation with the assigned loan processor, milestone touchpoints (Processing, Underwriting, Approval, Clear to close), and milestone to ECD (Estimated Closing Date) in the effort to properly manage expectations in meeting loan commitment and closing dates

QUALIFICATIONS

  • High school diploma or equivalent
  • 1+ years previous mortgage experience preferred
  • Understand and strictly adhere to TRID, Dodd-Frank, and all other consumer compliance regulations/laws.

 

PHYSICAL DEMANDS AND WORK ENVIRONMENT

 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.

 

Required to talk and hear; frequently required to use hands and fingers to handle or feel objects, tools or controls. Ability to stand and sit, reaching with hands and arms; kneeling, crouching. Must occasionally lift and/or move up to 20 pounds. Specific vision abilities required include close vision, distance vision, color vision, peripheral vision, and the ability to adjust focus. The noise level in the work environment is usually low to moderate.  Depending on location and time of year, extreme high and low temperatures within the building will be experienced.

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