This job has expired, please see additional jobs below
Loan Specialist
Chemical Financial Corporation
Troy, MI, United States
Job Details - this job has expired, please see similar jobs below
JOB SUMMARY
This position performs a variety of functions in servicing Residential Construction and Renovation loans as set forth by company policy. Activities may include setting up, activating and funding new loans, processing draw requests, monetary processing, releases/conveyances, insurance tracking, customer service for borrowers, builders and branch staff, file tracking, extension and modification processing, preparing conversion loan documents, reviewing and tracking builder financial file information and other activities of similar scope and complexity within Residential Construction.
REQUIRED KNOWLEDGE AND SKILLS
• Minimum of one year related job experience which may include specific skills training and knowledge associated with real estate processing, closing, underwriting or servicing experience in a commercial or construction lending environment. Expertise and knowledge of title insurance, legal descriptions, compliance procedures, property inspection, appraisal, lien laws, and construction underwriting standards desirable.
• Use automated systems and operate office equipment at an acceptable level of proficiency including automated systems for loan set-up, document preparation, construction draws, production accounting and functionality and operation of software programs (i.e. word processing, spreadsheet and database). Knowledge of Word, Outlook and Excel desired.
• Knowledge of accounting/bookkeeping fundamentals as they relate to loan servicing, including a basic understanding of mathematics, debits/credits and their relationship to the general ledger and the proofing/balancing of accounts, transactions and/or data entry. Ability to read, understand and apply internal guidelines/requirements within the assigned scope of authority. Independently examine/validate documents, identify variances, errors or procedural non-compliance, and take appropriate action to correct within the assigned scope of authority.
• Excellent customer service and communication skills. Excellent grammatical, oral, writing, spelling and proofreading skills, with ability to express self clearly and effectively in writing as well as on the telephone and in person.
• Strong ability, desire and enjoyment in working with others, employees, customers and vendors, in a cooperative, professional and friendly spirit.
• Possess good judgment, ability to accept responsibility and handle confidential information. Good at problem solving, researching and decision making.
ESSENTIAL DUTIES AND RESPONSIBILITIES
• Build and maintain positive working relationship with Loan Originators and Processors
• Tracks files sent in for approval, notifies branch of approval, sets up loans in AccuDraw, reviews new loans submitted for funding for compliance with policy, funds loans and tracks receipt of documentation, pay legal bills and other 3rd party expenses.
• Monitors receipt, reviews, tracks and files builder financial file documentation.
• Processes draw requests, reviews budget, worksheet, and cost breakdowns, monitors receipt of draw conditions and requirements. May manage inspection process, order inspections, pay invoices. Order survey, foundation, date down endorsements and 442 inspections. Sets up and manages money market accounts for Renovation loans.
• Process disbursements and print checks.
• Monitor and update hazard and liability insurance expirations.
• Prepare conversion documentation for One Step construction loans to permanent and files for imaging. Package final Renovation loans for HUD and/or FNMA.
• Prepare and process loan modification agreements for extensions of maturity date and loan amount additional advances. Prepare and process closing orders to title companies for recording of modification agreements and track receipt of applicable endorsements. Contact borrowers and branch staff regarding delinquent and/or matured loans and update risk management reports.
• Develops and maintains knowledge of policies and procedures relating to residential construction.
COMPANY OVERVIEW