Sr Loan Processor-Commercial

The Sr Loan Processor-Commercial is responsible for processing complex commercial loans from start to finish and other Bank loans as requested.

RESPONSIBILITIES

• Responsible for the building of Loan Files (hard or electronic, as applicable) according to the Bank's credit policies and procedures.
• Prepares Introduction Letter to applicant with a detailed list of informational items necessary to process the loan.
• Collect incoming informational items requested from applicant/borrower and review to ensure accuracy.
• Collaborate and effectively communicate with internal staff (Sales, Credit, Loan Servicing, Accounts Payable, etc. departments) and External clients (Client/Borrower, Title/Escrow Agents, Notary Service) and any other applicable agencies that are needed to process subject loan (i.e. State Guaranty Agency, DMV service).
• Initiates Title/Escrow order to obtain Preliminary Title Report for review.
• Gathers third party reports (i.e. credit, OFAC, Westlaw, UCC search, Flood Determination Certificate, Tax Verification).
• Prepares insurance coverage letter of request required for collateral being taken for subject loan. Upon receipt of insurance coverage requested, responsible for reviewing per initial letter of request. * Advance loan proceeds (draw request) as approved per Credit Approval Memorandum ("CAM").
• Manage borrower funds received for processing costs incurred (to be deposited to bank "GL" account).
• Ensure outstanding invoices associated with loan request are paid prior to or at closing.
• Maintain knowledge and comprehensive understanding of all types of entities in order to prepare Commercial Loan Documents that are not specifically ordered from Documentation department (i.e. Subordination, SNDA, Estoppel Certificate).
• Ensure notes are input in communication software with all updates identifying stage of process.
• Submit request for UCC filing (if applicable) and place tax service order with appropriate vendor.
• Submit loan documentation request upon receipt of Credit Approval Memorandum ("CAM"). Loan documents are to be reviewed upon receipt from loan documentation department for accuracy.
• Coordinate document signing per type of loan (i.e. Modification via esign, Origination/Purchase/Re-finance via escrow/title and/or Relationship Manager).
• Review executed loan documents verifying all conditions have been satisfied.
• Prepare loan file for funding (i.e. complete Funding Journal, Modification Fee Sheet, Wire Request Form, payment of invoice(s), note payoff(s)) and boarding (i.e. complete checklist).
• Create ticklers for outstanding conditions and trailing documents (i.e. final title policy(ies) and recorded documents) in communication software ("Salesforce"). Review final title policy(ies) and recorded documents upon notification through communication software ("Salesforce").
• Audit funded loan file and transfer to file room.
• Mentor and train new Loan Processors.
• Cover other Processor's loans when out of office due to illness and/or vacation.
• Assist with audits and examinations.
• Authorized to approve and sign invoices within stated credit policy limits.
• Review and approve journals, review wire information and assist other loan processors as needed to process loans.
• Assist Processing Manager with Special project or assignment as necessary.

QUALIFICATIONS

• Minimum 3 years of experience in commercial loan processing funding or related work experience.

A reasonable, good faith estimate of the minimum and maximum base salary or pay for this position is $32.83/hr to $49.25/hr. Actual compensation will vary based on various factors including but not limited to location, experience, and performance. A discretionary bonus and/or business line incentive may be provided, in addition to a medical and other benefits, dependent on the position. For more information regarding our benefits, please visit https://www.ppbi.com/careers.html

CA (Los Angeles applicants): Applicants are notified that the Company is an insured depository institution subject to the restrictions and requirements of Section 19 of the Federal Deposit Insurance Act (12 CFR 303) ("Section 19"). In accordance with Section 19, the Company will consider an applicant's criminal history after an applicant is made a conditional offer of employment. Qualified applicants with criminal conviction records will be considered for employment in accordance with the Los Angeles Fair Chance Ordinance. Section 19 may prohibit the Company from employing an applicant with criminal conviction(s) for fraud, breach of trust, embezzlement, mishandling of money or any crime of violence may have a direct impact on the job duties as set forth in the job description and such convictions may result in withdrawal of a conditional offer of employment in accordance with the Los Angeles Fair Chance Ordinance. Because of the nature of our business, a review of your criminal history is necessary to comply with Section 19 and to avoid substantial risk to our business operations and licensing.

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