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Commercial Loan Processor

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Job Summary

Company
Great Lakes Financial Group
Location
Cleveland, OH 44115
Industries
Other/Not Classified
Job Type
Full Time
Employee
Years of Experience
5+ to 7 Years
Education Level
Bachelor's Degree
Career Level
Experienced (Non-Manager)

Commercial Loan Processor

About the Job

FHA Loan/Project Processor

Concept Meeting and Firm Application Preparation

  • Concept Meeting and Firm Application preparation
  • Coordinate with Lead Underwriter on preparing online file folder for new project with all necessary sub folders
  • Preparation of all project binders and tabs associated with new project 
  • Determine Organizational Structure and prepare necessary forms, certification, and checklist
  • Review all documentation submitted with applications to ensure proper completion, internal approval and is consistent and accurate with the project criteria
  • Maintain and save all documentation and applications with proper descriptions on internal network
  • Drive the process of placing all firm application checklist items into all binders with the corresponding tabs
  • Work with borrower to obtain all information required for the firm application and coordinate with Lead UW to answer any questions
  • Order and prepare all of the following for new projects:

Building Code Letters, Zoning Letters, Verification of Deposits, Credit Reports, Maps, Photos, 2530 APPS

  • Performs weekly checks of HUDCLIPS for any new/updated HUD Forms
  • Coordinates any internal/external meetings on discussion of any new project. 
  • Works with Lead UW on any additional requirements, deficiencies, or appeal items for the firm application

Third Parties

  • Place and maintain new third party contact information on third party master list with copies of their insurance and resumes
  • Save third party quotes, proposals, and invoices and place in their appropriate folder under the project name for the following reports:

Appraisal, PCNA, Phase 1 ESA, Radon, Lead, Asbestos, Intrusive Testing, Survey, Title

  • Create/maintain Contact List for each borrower which includes third party contacts and dates of signed proposals
  • Copy all checks of third party payments in the Engaging Third Party folder
  • Work with Accounting Department by providing a summary of all third party cost and invoices are properly documented and paid
  • Monitor effective dates of third party reports to determine all expiration dates of reports
  • Coordinate the engagement, receipt, and review of third party due diligence reports with Lead UW ensuring quality and timely reports are received from third party vendors
  • Save all third party reports with proper descriptions on internal network

 

Development/Acquisition Processing:

  • Coordinate with Development Manager to prepare components of the application for tax credits, and other subsidy sources, including but not limited to federal tax credits, state tax credits, historic tax credits, state or local block grants, loans, and other available resources
  • Coordinate the engagement, receipt, and review of third party due diligence reports with Development Manager ensuring quality and timely reports are received from third party vendors
  • Prepare Subsidy and Financing Applications for Low Income Housing Tax Credits and various other programs involved with acquisition
  • Review all documentation submitted with applications to ensure proper completion, internal approval and is consistent and accurate with the project criteria
    • Act promptly to resolve any deficiencies and/or problems as soon as identified
  • Save all documentation and applications with proper descriptions on internal network
  • Maintain and update both internal and external timelines/task sheets for each project
  • Prepare, review and distribute Letters of Intent, Purchase and Sale Contracts, and Financing Proposals
  • Ensure timely and highest quality delivery of applications to all sources of financing with accurate and complete applications
  • Research current HUD/FHA/State Qualified Allocation Plans guidelines and ensure checklists and projects meet current requirements
  • Attend Qualified Allocation Plan trainings and research the application processes, procedures and requirements for state in which projects for preservation are located (Midwest and any states where expansion is planned)

Professional Qualities:

  • Self-motivated individual with ability to work independently within a team structure
  • Strong organizational skills with attention to detail
  • Ability to communicate effectively both verbally and in writing
  • Demonstrated ability to establish new relationships and maintain good relationships with external and internal partners
  • Demonstrated ability to research requirements and follow directions from various funding groups in detail
  • Ability to work in a fast-paced environment, demonstrating the ability to multitask and balance a variety of deadlines and other demands
  • Ability and willingness to work beyond normal work hours to ensure that deadlines are met

 

 

 

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