Loan Document Specialist Job Description

Loan Document Specialist Job Description

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Loan document specialist provides assistance and expert guidance to RM/PM, Closer and Servicing Officers in post closing follow-up for missing or incomplete legal documents.

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 documentation will need to be reviewed for authenticity, prior note language and validated against the commercial loan system, CLS
The person filling this position will adhere to service levels, quality goals and department procedures
Review and analyze commercial loan documentation, making determinations for proper handling
Establishes a good working relationship with internal customers
Background in Collateral Lien Processing and/or Commercial and Consumer Paids
Paralegal background would assist with commercial loan documentation review
Completes CRA Small Farm/Small Business and HMDA data review
Review Commercial Insurance Exception report, contact customer/agency for missing or expired insurance
Processing insurance daily, identify loan(s), update Jack Henry, file to Synergy, prepare letters and contact customer/agency for cancellations for possible force place insurance, addition or removal of loss payee/mortgagee
Flood insurance monitoring by reviewing reports daily

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:

Applicable credit policies and approval processes for assigned product
Closing policies and procedures
Funding policies
Governmental and agency requirements
Terminology and automated processing systems
Underwriting requirements
Legal documents used to support applicable loan/lease processing
Mortgage servicing/mortgage banking industry - specifically to origination documents
Excel
Basic accounting principles

Desired experience for loan document specialist includes:

May prepare and/or track various information for reporting
An undergraduate or graduate school degree, including major course work in accounting, finance, business, statistics and economics, or any combination of education and/or experience that would demonstrate the capability to perform the duties of the position
Proven ability to communicate effectively in both verbal and written form
Five years related banking work experience and one year commercial loan experience
Very knowledgeable of commercial loan documentation
Three or more years experience in loan/lease processing activities, or other relevant experience

Loan Document Specialist Examples

1

Loan Document Specialist Job Description

Job Description Example
Our innovative and growing company is hiring for a loan document specialist. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for loan document specialist
  • 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
Qualifications for loan document specialist
  • 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
2

Loan Document Specialist Job Description

Job Description Example
Our innovative and growing company is looking to fill the role of loan document specialist. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for loan document specialist
  • 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
Qualifications for loan document specialist
  • 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)
3

Loan Document Specialist Job Description

Job Description Example
Our company is growing rapidly and is looking for a loan document specialist. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for loan document specialist
  • 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
Qualifications for loan document specialist
  • 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
4

Loan Document Specialist Job Description

Job Description Example
Our growing company is searching for experienced candidates for the position of loan document specialist. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for loan document specialist
  • 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
Qualifications for loan document specialist
  • 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
5

Loan Document Specialist Job Description

Job Description Example
Our growing company is looking for a loan document specialist. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for loan document specialist
  • 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
Qualifications for loan document specialist
  • 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!

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