East Cambridge Savings Bank · 1 month ago
Commercial Loan Coordinator
Cambridge, MA
Full-time
Onsite
Entry Level
$22/hr - $32/hr
1+ years expEast Cambridge Savings Bank is actively recruiting for a Commercial Loan Coordinator in their Lending Division. The role involves performing a variety of administrative tasks in connection with processing commercial loans, including tracking applications, maintaining loan files, and ensuring compliance with regulatory guidelines.
BankingFinancial Services
Responsibilities
Receives and tracks applications. Assists management in processing documentation related to Commercial real estate. Monitors application pipeline, and follows up on appraisals, 21E reports, and financials. Documents loan underwriting and processing activities related to Commercial loans on a daily basis
Maintains new commercial loan files, including participation loans. Assembles and verifies accuracy of loan documentation for all commercial loan files and checks documents for proper vesting, legal descriptions, closing dates and signatures. Reports discrepancies to management
Files UCCs for new loans, modifications and renewals. Prepares renewal or termination documents as necessary. Assists in the preparation or delivery of disposition correspondence including commitment letters or adverse action and/or denied documentation, of approved or denied commercial loans. Prepares necessary loan documents for loan closings, either in-house or by attorney
Ensures that loans are processed in accordance with all the terms and conditions of the credit approval and all applicable regulatory guidelines
Assists with the SBA remittance fee due report on all SBA loans on a monthly basis. Prepares lending activity reports for the Pricing Committee on a bi-weekly basis
Assists management by responding to inquiries from customers, attorneys and other Bank personnel as needed to resolve problems. Acts as liaison with attorneys, appraisers, insurance companies and other applicable parties prior to and during closings to ensure accurate and consistent documentation
Ensures proper due diligence and CIP/ CDD Beneficial Ownership requirements are met prior to closing the loan, working with the Commercial Lending Officers as needed
Prepares and follows construction advances and closed loans. Coordinates a draw request for Construction Loans between customers and outside construction consultants and payouts
Qualification
Required
1-3 years' working in a banking environment or a bachelor's degree in Business or related field with 1 year banking experience
Must be detail oriented with strong organizational and verbal communication skills
Working knowledge of Microsoft Word and Excel
Ability to perform a variety of tasks simultaneously while adhering to guidelines
Preferred
Lending knowledge and working knowledge of COCC Insight
Working knowledge of LoanVantage or other loan origination system
Company
East Cambridge Savings Bank
The First National Bank is a bank that offers banking, mortgages, trust planning services.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Timothy E. Bombard
President and Chief Executive Officer
Recent News
2023-03-28
Boston Business Journal
2022-08-01
American Banker
2022-02-25
Company data provided by crunchbase