PCR Loan Review Specialist

Comerica - Farmington Hills, MI

Full-time

Hybrid - Farmington Hills, MI

Credit Intermediation and Related Activities

About the position

The Commercial Loan Post Closing Review (PCR) Specialist I plays a crucial role in ensuring that executed loan documents meet all necessary compliance and regulatory standards. This position involves a thorough review of both internally and externally prepared loan packages, focusing on the accuracy and completeness of documentation. The PCR Specialist I is tasked with mitigating monetary risk by ensuring proper lien perfection for collateral pledged and confirming legal recourse is established through meticulous documentation reviews. The role is hybrid, allowing for remote work 2-3 days per week, which provides flexibility while maintaining the essential responsibilities of the position. In this role, the PCR Specialist I will review commercial loan packages to ensure that all loan documents are appropriately executed. This includes issuing and clearing document exceptions for any incorrect, incomplete, or missing information. The specialist will also be responsible for verifying compliance with various regulatory items, such as RESPA, the US Patriot Act, and Beneficial Ownership requirements. A significant part of the job involves performing lien perfection tasks, which include submitting recording and tracking requests, ensuring UCC searches are conducted to validate the bank's lien position, and authorizing timely UCC filings through a vendor. Additionally, the PCR Specialist I will validate the lien perfection status on all recordable documents, including mortgages and titles. The role requires conducting research on regulatory issues, lien perfection, and document exceptions, as well as managing an individual group email box to ensure timely resolution of document exceptions and other communications. Other duties may be assigned as necessary, making this a dynamic position that requires attention to detail and strong organizational skills.

Responsibilities

• Review of Commercial Loan packages for appropriately executed loan documents.
• Issue and clear document exceptions for incorrect, incomplete, and missing information.
• Review of Commercial Loan packages for satisfaction of regulatory items such as: RESPA, US Patriot Act, Beneficial Ownership, etc.
• Perform appropriate Lien Perfection and related Reviewer functions.
• Submit recording and tracking requests for lien perfection and related activities.
• Ensure UCC searches are obtained to validate Comerica is in the appropriate lien position on collateral pledged.
• Authorize timely UCC filings via UCC vendor to ensure Comerica is in the appropriate lien position.
• Validate the lien perfection status on all recordable documents including mortgages, titles, etc.
• Perform research for regulatory, lien perfection and document exception issues and escalations.
• Manage individual group email box folders to ensure appropriate and timely resolution of document exception and other communications.
• Other duties as assigned.

Requirements

• High School Diploma or GED
• 2 years banking experience
• 2 years of experience in commercial loan documents
• 2 years customer relations skills
• 1 year experienced with Excel, Word