Loan Operations Specialist

Prime Meridian Bank - Tallahassee, FL

Full-time - Mid Level

Tallahassee, FL

Credit Intermediation and Related Activities

About the position

The Loan Operations Specialist at Prime Meridian Bank plays a crucial role in ensuring the smooth functioning of the loan operations department. This position involves a variety of tasks that are essential for the origination and servicing of loans. The specialist will interact with Relationship Managers, Associate Relationship Managers, and other internal personnel, as well as clients and third-party providers, to complete various loan-related tasks. The role requires a comprehensive understanding of loan documentation, compliance with federal and state regulations, and adherence to bank policies. Key responsibilities include the preparation of new and renewed loan documentation, funding of new loans, and booking of loans. The specialist will also be responsible for inputting tickler information, performing post-closing duties such as payments to third parties, and sending documents for recording. Daily tasks involve the entry and balancing of key sheets, working with the loan tickler report, and ensuring that all necessary insurance and UCC filings are current and adequate. The position demands a working knowledge of the loan accounting system, including daily reconciliation of loan-related general ledger accounts and escrow processing. In addition to these responsibilities, the Loan Operations Specialist will assist clients with routine inquiries regarding their loans, maintain accurate loan files, and handle monetary transactions such as payments and fee waivers. The role also includes research and resolution of rejected and unposted items to mitigate risk. The specialist will participate in payment processing, prepare mortgage satisfactions, and track delinquent real estate taxes. The position requires scanning, verifying, and indexing loan files, as well as maintaining logs for offsite storage. The specialist will work on departmental reports to ensure compliance and risk mitigation, and will be responsible for preparing loan-related wire transfers. Overall, this role is integral to the loan operations process from start to finish, and the specialist will actively collaborate with other employees to contribute to the growth of the organization.

Responsibilities

• Preparation of new and renewed loan documentation adhering to Federal Regulations, State Regulations and Bank Policy.
• Funding of new loans for portfolio and held for sale loans.
• Booking of new, renewed and extended loans.
• Input of tickler information and perform loan post closing duties such as payment to third parties and sending documents for recording.
• Entry and balancing of daily key sheets.
• Working of the loan tickler report, verification of current and adequate insurance, file and maintain Uniform Commercial Code (UCC) filings, verification of receipt of recorded documents and final title policies and life insurance assignments.
• Demonstrates a working knowledge of the loan accounting system, daily reconciliation of loan related general ledger accounts.
• Escrow processing, payment of escrowed taxes and insurance.
• Monthly processing of escrow account analysis.
• Assist clients with routine inquiries regarding payoffs, loan reference and other loan details.
• Maintains and sets up files on each loan and ensures that the information is complete and accurate.
• Keys and balances monetary transactions including payments, payment reversals, payoff checks, loan advances and fee waivers.
• Researches and clears rejected items and unposted items in a timely manner in order to mitigate risk of loss.
• Participation payment processing.
• Paid out loan processing, preparation of mortgage satisfactions and partial releases.
• Verification of held for sale settlements, posting of entries, input and balancing of monthly held for sale reports.
• Delinquent real estate tax tracking and reporting.
• Scans, verifies and indexes loan files and other related loan documentation.
• Verification of scanning and ready boxes for shipment to offsite storage.
• Maintain file box logs.
• Works departmental reports with varying frequencies to ensure compliance and mitigate risk.
• Preparation and input of loan related wire transfers.
• Maintains a thorough understanding of the Loan Operations process from start to finish.
• Responsible for actively working with other employees to grow the organization.
• Performs other duties as assigned.

Requirements

• Experience in loan processing and account analysis.
• Mid-level accounting skills.
• Strong understanding of federal and state regulations related to loan documentation and servicing.
• Ability to interact effectively with clients and internal personnel.
• Proficiency in loan accounting systems and general ledger reconciliation.

Nice-to-haves

• Experience with escrow processing and analysis.
• Familiarity with Uniform Commercial Code (UCC) filings.
• Knowledge of real estate tax tracking and reporting.

Benefits

• Health insurance coverage.
• 401k retirement savings plan.
• Paid holidays and vacation time.