The Loan Administrator oversees the loan closing process. They ensure that all loans are closed in accordance with the Bank’s Lending Policy, loan documentation is accurately prepared, properly executed and all collateral is perfected. The Loan Administrator funds the loan and books the loan on the system. They also ensure that the loan is imaged. The Loan Administrator follows all established policies and procedures of the Bank.
Detailed Job Duties
- Review Loan packages received for processing by reading through the Loan Presentation Summary and other information provided
- Alert Loan Officer and Manager of any issues discovered in the initial file review to determine resolution
- Request any information needed from the Borrower
- Correspond with attorneys when necessary.
- Correspond with title companies to order title reports, coordinate closing and ensure perfection of collateral
- Correspond with insurance agencies to obtain evidence of insurance as required by collateral type
- Order Flood Certificates
- Order OFAC Reports
- Order Tax Service Contracts
- Order and review searches
- Review draft HUD / disbursement authorizations prior to closing
- Prepare loan documents using loan documentation software or coordinate the production of loan documents by third party attorney providers
- Conduct loan closings as authorized
- File liens on loan collateral via filing service providers
- Book the loan on the system and scan/upload documents to synergy.
- Process General Ledger entries
- Ensure ticklers for any ongoing requirements and post-closing items are on JHA Silverlake.
- Submit invoices to Accounts Payable.
- Complete checklist and ensure that all required documentation is in the physical and electronic loan file
- Ensure key original documents such as Notes, Guarantees, Titles, Stocks are properly secured in a fireproof cabinet
- Loan Payoff Processing:
- Receive payoff quote requests and ensure they have been authorized by the borrower
- Inform Loan Officer of request
- Review loan documents to ensure prepayment penalties are included
- Confirm correct release fees are quoted
- Loan Payment Payoff Processing:
- Process payments and payoffs that are received in the department
- Assist branch personnel with payment processing questions
- Customer Service Requests:
- Address all loan related questions received from both internal and external
- Escalate issues to department management at needed
- Performs other duties as assigned.
- Minimum three years’ experience in loan administration or operations. Banking experience necessary.
- Bachelor’s degree preferred in a related field.
- Previous knowledge of Loan Documentation
- Prior experience and knowledge of Jack Henry Silverlake a plus
- Must have exceptional Customer Service skills
- Must have strong attention to detail.
- Strong organizational skills
- Computer literacy in Word, Excel and Outlook
- Excellent written and oral communication skills
This job description should not be construed to imply that these requirements are the only standards for the position. Incumbents will be asked to perform other duties as may be required. Trustar Bank has the right to revise this job description at any time. Trustar Bank is an “at will” employer and, as such, neither this job description nor your signature constitutes any form of contractual agreement between you and Trustar Bank.
We are an equal opportunity employer. We do not discriminate in hiring on the basis of sex, gender identity, sexual orientation, race, color, religious creed, national origin, physical or mental disability, protected veteran status, or any other characteristic protected by federal, state, or local law.
If you need a reasonable accommodation for any part of the employment process, please contact us by email at HR@trustarbank.com. Requests for accommodation will be considered on a case-by-case basis.
For more information about our commitment to equal employment opportunity, please click here.