Loan Boarding Coordinator

Job Description

JOB SUMMARY

The Loan Boarding Coordinator is responsible for adding originated and acquired loan products to the loan servicing system, both manually and via electronic upload.

DUTIES & RESPONSIBILITIES

·Performs Post-Closing process, interpret loan documents and boards all originated loan products and acquired loans;

·Ensures all loan document packages are complete and follows up with lending positions or third party originators on exceptions;

·Runs system edit reports and pass new loans into production on the McCracken system;

·Performs after-pass functions such as adding/changing applicable codes and boards non-critical loan information (Phase 2) to the McCracken system;

·Prepares e-forms to process escrow and reserve funds on newly boarded and acquired loans;

·Communicates with Client Relations (Agency/CMBS/Private Label) to understand new products and ensure proper coding when boarding to the McCracken system and communicates with Loan Administration (Tax/Insurance/Reserves) to notify them of time-sensitive/critical issues;

·Keeps abreast of new products and ensures proper coding when analyzing loans for upload to the McCracken system;

·Supports incoming acquired loan servicing including coordination with the prior servicer, preparation of Mapping Tool spreadsheets for bulk boarding of acquired loan portfolios, uploading the Mapping Tool spreadsheet to pass loans to production, and the reconciliation of and application of funds to the acquired loans;

·Performs all tasks in support of outgoing transfers of servicing, including coordination with the successor servicer, the timely delivery of data files and electronic documents, wire transfer of funds, and bulk coding of transferred loans on the system;

·Reviews loan modification documents to identify system changes required by the modification; tracks modifications in the MTS system, and submits forms to adjust the loan consistent with the modified terms. Files correspondence and other records in preparation for imaging;

·Completes Welcome Letters, review and print out emails with Interest Only calculations to prepare ARM Welcome Letters;

·Monitors and maintains New Loan Boarding and Acquisitions/Conversions shared mailboxes;

·Provides support to staff with the ET transfer process for loading loans electronically;

·Assists with duties as relates to processing and returning corrected specially serviced CMBS, Agency and third party loan modifications;

·Interacts with attorneys, borrower, loan officer, investor and servicing confirm ordering of third party reports.

Qualifications

PROFESSIONAL EXPERIENCE / MINIMUM QUALIFICATIONS

·Two years previous experience in a similar position, preferred;

·Real Estate experience preferred (Commercial Real Estate experience a plus);

·Experience in and understand of how loans are set up, the supporting workflow, etc.;

·Experience reading, reviewing, and comprehending legal documentation, preferably related to commercial loans;

·Required proficiency in Microsoft Office Suite – and McCracken experience preferred.

KNOWLEDGE/SKILLS/ABILITIES

·Strong writing and reading skills;

·Strong time management, problem solving skills;

·Passionate, Self-motivated and driven, with keen attention to detail, action-and-results oriented;

·Exhibit a high level of individual initiative and ownership.

Additional Information

Environment, Physical Demands and Other Conditions:

• Experience with in a team-oriented, collaborative environment
• Ability to work after hours