Loan Administrator – Multifamily and Small Business

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Location: Hybrid remote in Wallingford, CT 06492

Employment Type: Full-Time

Salary Range: $60,000+ Benefits​

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This position’s primary responsibilities are to support the Commercial and Small Business Lending Department’s loan administration processwhich includes: loan application through loan closing, funding, booking, and monitoring of loans. The Administrator will help develop procedures and systems to standardize processes and reduce the time from loan inquiry through approval and closing. The Administrator will work closely with the Lending team to provide technical assistance and excellent customer service.

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Loan underwriting, closing and disbursement

o Assist loan officers and underwriters, as requested, in obtaining application materials from borrowers.

o Coordinate with appraisers, inspectors, environmental professionals, credit companies and other third-party vendors. Maintain lists of eligible vendors, order reports as needed and process invoices and payments.

o Coordinate closing and funding process with lending officers, borrowers, and legal counsel including review of commitment letters, engagement letters and other documents as needed.

o Oversee the closing and disbursement statement process for approval and maintain credit report invoices for payment reimbursement processing at closings.

o Facilitate document signing and distribution process.

o Ensure compliance with all loan closing and funding requirements.

o Prepare construction draws and payment requests.

o Assist the lending team with the disbursement history for construction loans by ensuring proper documentation and compliance with loan conditions and by tracking advances against budget to keep loans in balance.

o Review property taxes and calculate monthly escrow for loans.

o Verify the borrower’s counsel, wiring, and payment information to ensure accuracy in the transfer of funds.

o Compile impact data and prepare booking forms and loan set up sheets for onboarding loans into the loan servicing system.

Administration

o Respond to phone and email inquiries

o Manage the flow of loan documents and processes from the commitment stage through closing and disbursement of funds. Ensure electronic and database files are kept organized, maintaining an audit trail of all loan approvals and closing steps.

o Provide administrative assistance for all Commercial Lending-related committees including:

o Scheduling and sending meeting notices and materials to the Executive Assistant, the commercial lending department, and Loan Committee.

o Managing agendas, taking meeting minutes, and tracking attendance and quorums;

o Finalizing approved LADs and archiving in appropriate digital file locations.

o Ensure all loan data points have been entered into the Commercial Lending Salesforce Database and provide reports as needed.

o Oversee loan pipeline tracking system

o Assist in processing existing loan modifications, renewals, deferments, and any other such action requiring a change to the original legal loan documents of existing loans.

o Assist in grant application and reporting activities as needed.

o Work closely with the finance department to ensure correct accounting for all loans, especially concerning maintaining tracking of reimbursable expenses.

o Provide support and input to the Portfolio Manager including assistance with monitoring reports, impairment reports (PARs), and other needs.

o Assist Portfolio Manager, using the LFN servicing system, to respond to inquiries, reporting requests and other data needs from internal and external requests.

o Perform other duties as assigned.

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ADDITIONAL RESPONSIBILITIES FOR SMALL BUSINESS

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(Under the direction of the Director of Small Business)

o Responsible for retrieving credit reports.

o Work closely with the Small Business employees to prepare loan closing statements.

o Verify the Borrower’s ACH Information to ensure accuracy.

o Verify draft payment request.

o Oversee payment processing.

o Draft New Loan Set-up Sheet.

o Responsible for preparing loan booking forms.

o In collaboration with Small Business team members maintain the database to support the creation of a dashboard.

o Participate and collaborate in weekly meetings.

o Perform other duties as assigned

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CORE COMPETENCIES

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· Commitment to equitable community development and the core mission of C4C.

· Must be highly organized, detail-oriented, and able to create and document processes.

· Ability to work independently and to collaborate with a team.

· Computer competencies must include Excel and Word skills as well as other Office365 apps; experience with CRM especially Salesforce, and ability to learn other software applications.

· Ability to handle multiple tasks and to operate productively without extensive supervision.

· Good problem-solving abilities

· Commitment to clear, detailed, service-oriented communication with borrowers and C4C colleagues.

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Education & Experience

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· Bachelor’s degree or equivalent experience in the relevant field, i.e., real estate, loan administration, paralegal with real estate closing experience preferred.

· Must have experience with commercial real estate and/or investor owned multifamily real estate.

· Understanding of and experience with community development lending and public and private sector funding sources a plus

· Excellent written and verbal communication skills

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Certifications

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· Notary certification or willingness to acquire a plus.