Commercial Loan Processing Specialist at Vaco, LLC
Greenville, OH 45331
About the Job
Job Summary:
The Commercial Loan Processor is responsible for managing all aspects of loan processing, from application review to disbursement and post-closing duties. This role requires a solid understanding of federal lending regulations, loan documentation, and financial institution products and services. The ideal candidate will act as the main point of contact for the Loan Origination software, coordinate closely with the commercial loan origination team, and ensure the accuracy and compliance of all loan documentation.
Job Requirements:
- High school diploma or equivalent; Associate's or Bachelor's degree preferred.
- At least five years of experience in loan processing.
- Strong knowledge of federal lending regulations.
- Successful completion of in-house training programs.
- Good understanding of financial institution products and services.
Specific Job Functions:
Loan Documentation & Software Management:
- Serve as the primary contact for Loan Origination software (Abrigo) related to loan documentation preparation (LaserPro).
- Prepare and review loan closing documents, ensuring accuracy before submitting them to the Loan Originator for final approval.
Loan Application Review:
- Review loan applications submitted by the Loan Originator to fully understand the transaction and required documentation.
Pipeline Management:
- Participate in weekly meetings with the commercial Loan Originator team to discuss and manage the current loan pipeline.
Flood Determination & Appraisal Coordination:
- Obtain Flood Determination reports, if applicable.
- Order appraisals and manage the deposit of appraisal fees into the appropriate General Ledger account.
- Forward appraisals to the Loan Originator upon receipt.
Title Exam & Payoffs:
- Order Title Exams and payoffs as needed.
- Upon receipt of the title opinion, review vesting, liens, taxes, and defects, and communicate findings to the Loan Originator.
Loan Closing:
- Complete the funding sheet, print checks, and prepare files for closing.
- Disburse loans, send wires, deliver payoffs, and manage the recording of mortgages and deeds.
- File UCCs and manage construction loan inspections and disbursements.
Backup Support & Documentation Management:
- Provide coverage for other loan processors during absences, such as vacations.
- Scan and file all loan-related documents in a timely manner.
- Prepare mortgage releases and release UCCs when loans are paid off.
Loan Servicing & Customer Support:
- Post payments to the DNA system as needed.
- Act as the primary point of contact for commercial borrowers regarding loan questions and concerns.
- Responsible for managing commercial loan types within the core system, including creating cases as needed.
Insurance Tracking:
- Track insurance policies and request updated documentation to ensure that all loans are covered by current evidence of insurance.
Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.
EEO Notice
Vaco is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law.
Vaco LLC and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco LLC and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com .
Vaco also wants all applicants to know their rights that workplace discrimination is illegal.
By submitting to this position, you agree that you will be giving Vaco the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal.
Privacy Notice
Vaco LLC and its parents, affiliates, and subsidiaries (“we,” “our,” or “Vaco”) respects your privacy and are committed to providing transparent notice of our policies.
- California residents may access Vaco’s HR Notice at Collection for California Applicants and Employees here.
- Virginia residents may access our state specific policies here.
- Residents of all other states may access our policies here.
- Canadian residents may access our policies in English here and in French here.
- Residents of countries governed by GDPR may access our policies here.
Pay Transparency Notice
Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to:
- the individual’s skill sets, experience and training;
- licensure and certification requirements;
- office location and other geographic considerations;
- other business and organizational needs.
With that said, as required by local law, Vaco believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.