Loan Associate

Povolania

Opis pracovnej pozície

The Loan Associate is responsible for a wide range of tasks in support of LIIF’s lending programs including loan closings and loan servicing of a portfolio of loans made to support the development of affordable housing, child care facilities, charter schools, and other community facilities. In cooperation with the Lending Production group, the Loan Associate supports the achievement of regional and overall Lending work plan goals. REPORTING RELATIONSHIPS: The Loan Associate reports to the Loan Administration Manager. The Loan Associate will work closely with the Chief Credit Officer, Market Directors/Lending Directors, Loan Officers, Credit Associates, colleagues in the Child Care Group, and Finance associates in an effort to meet LIIF’s lending goals and objectives. The Loan Associate will communicate with borrowers, third party lenders, attorneys and other external parties, as appropriate. MAJOR DUTIES AND RESPONSIBILITIES: Loan Closing: • In collaboration with the Loan Officers, the Loan Associate will close predevelopment, acquisition, construction, and term loans in support of the development of affordable housing, child care facilities, charter schools and other community facilities. The Loan Associate will prepare loan closing checklists and ensure all loan closing conditions have been met and approved by the appropriate authorized parties. The Loan Associate will review draft loan documents to ensure accurate implementation of LIIF’s lending policies and the incorporation of approved loan terms. The Loan Associate will review and approve preliminary title reports/commitments and instructions to title. The Loan Associate will communicate to the Loan Officers any documentation or title issues that have the potential to negatively impact loan closings. • In general, the Loan Associate will keep the Loan Administration Manager, Loan Officers and/or Market Directors/Lending Directors informed of the progress of loan closings and convey any concerns or delays that may impede closing within a specified timeframe. If requested, will join pipeline meetings, to provide status of loan closings to a broader group. • The Loan Associate will work with the Finance staff to set-up new loans in LIIF’s lending data bases. The Loan Associate is responsible for coordinating funds needed at loan closing with Finance and third party lenders. Loan Administration: • Loan Servicing - The Loan Associate is responsible for servicing and monitoring a portion of the On and “Off Balance Sheet” or “Off Balance” loan portfolios. Duties include processing periodic draw requests for construction and non-construction loans, managing past due payments by contacting borrowers and coordinating receipt of same in timely manner, monitoring maturities, monitoring/following up on tickler items, ongoing file maintenance, updating loan information in LIIF’s lending databases, processing loan payoffs, and archiving records. The Loan Associate will research customer inquiries and loan-servicing issues. The Loan Associate will inform the Loan Administration Manager, the Loan Officers and Credit Associates of any material issues that may arise in the course of loan servicing activities. • Reporting - The Loan Associate’s portfolio may include loans that LIIF services on behalf of other lending institutions and government agencies (“Off Balance Sheet” or “Off Balance” loans). The Loan Associate will exercise the same care in administering and servicing these loans as they would in administering and servicing LIIF’s On Balance loans. When requested, the Loan Associate will timely gather information in support of reporting requirements pursuant to participation or agency agreements. Customer Service • The Loan Associate will nurture a positive and professional relationship with LIIF’s customers and business partners (which include third party lenders, attorneys and other external parties) by responding promptly to any and all requests in a responsive, consistent, accurate manner. Will participate in internal and external meetings, as appropriate. Other Duties as Assigned • From time to time, the Loan Associate carries out other responsibilities as assigned including but not limited to assisting with the administration of specific LIIF lending programs, developing reports, administering lender pools, selling participations in loans, and implementation of lending data bases.

Požiadavky na zamestnanca