Job Summary:
The Commercial Loan Officer will work closely with the Commercial Loan Manager to manage and grow the commercial loan portfolio, which includes income-producing properties across various industries, commercial loans, multifamily loans, and other real estate-secured loans. The role involves achieving goals, cross-selling the bank’s products, and ensuring the portfolio remains high-quality and profitable.
Essential Responsibilities:
- Manage and underwrite approved types of commercial loans, including Commercial Real Estate loans, ensuring compliance with the bank’s lending goals, policies, and procedures.
- Interview and advise existing and potential clients on commercial loans and mortgage options, explaining available programs, gathering financial data, and cross-selling bank products.
- Respond to daily inquiries from clients about lending programs, loan packages, and meet with prospective borrowers to review their loan packages.
- Provide guidance and support to commercial loan processors and pre-closing staff on processing and closing issues, ensuring effective communication with borrowers and their representatives on property, credit, underwriting, and processing matters.
- Underwrite and analyze commercial loan packages, ensuring compliance with credit, underwriting standards, and lending policies. Review loan documentation, appraisals, and environmental reports, and prepare or assist in completing loan presentations, including credit and collateral analysis, debt service ratios, and loan contingencies. Report any material risks or discrepancies discovered during loan processing to the Commercial Loan Department Manager.
- Prepare Greenlight Memorandums, CAM requests, and CAM amendments to facilitate the underwriting process.
- Ensure compliance with various laws and regulations, including RESPA, HMDA-LAR, ECOA, FCRA, Flood D.P.A., CRA, Fair Housing Act, Fair Lending, OFAC, U.S. Patriot Act, etc.
- Supervise and review the accuracy and completeness of commitment letters, underwriting analysis, and operational matters related to financing.
- Oversee loan closing procedures, coordinating with attorneys and closing agents to address title issues, contingencies, and other closing-related matters.
- Assist in loan production and other lending activities, including loan collections, foreclosure, audits, and regulatory examinations.
- Process and recommend loan assumptions, refinancing, and modifications, and supervise construction loans, if assigned.
