Loan Documentation Specialist - Wayne, NJ

Valley National Bank
$23.17 - $38.65 / hr
United States, New Jersey, Wayne
May 21, 2025
Back Loan Documentation Specialist #25-245 Wayne, New Jersey, United States Apply Apply for this job now! Apply Job Overview The Loan Operations Data Integrity Specialist will prepare loan booking sheets on new loans, renewals and modifications to ensure accuracy, consistency and regulatory compliance for all data entered in the loan accounting system. Expected Work Hours 40 Job Description Responsibilities include, but are not limited to: Prepare loan documents upon receipt of request from the Lender, review loan approval and related supporting documents. Ensure that all required documents, including insurance information, are provided to properly evidence the loan and perfect the bank's security interest. Work with Bank's (Medici or LaserPro) software and other related programs to create documents; ensure the timely delivery of documents to lenders and others as directed. Follow-up with lenders, legal counsel and others for missing items needed to create accurate loan documents. Perform post-closing follow-up with lenders, legal counsel and others for document exceptions and trailing documents. Respond to questions concerning loan documentation from legal counsel, lenders and other staff members. Resolve differences and provide direction to others to facilitate the documentation process. Review Line of Credit Renewals; review credit memos, offerings and commitment letters for accuracy and conformity to existing loan documentation. Update Bank's (Banker Hill), or equivalent, software with line renewal information. Responsible for producing and reviewing departmental reports submitted to lenders and senior management; provide information to examiners and answer any related questions. Record and track fees; create fee sheet to include with loan packages sent to lenders for closing. Provide support to peers in all facets of the department to perform routine tasks required to run the department and carry out daily various functions. Review all work assignments for accuracy and completeness, answer questions and provide guidance. Provide back-up to Title Reviewers by: performing post-closing review of documents for propriety and completeness, following-up with lenders and legal counsel for missing documents, ensuring timely delivery of loans to Note Department for booking purposes and reviewing associated reports for exceptions and missing documents. Participate in cross training throughout Commercial Loan Servicing to be able to provide support and assist in special projects. Requirements Required Skills: Extensive knowledge of lending terminology and legal documents used in Commercial Lending. Knowledge of lien perfection and recording requirements. Experience in creating loan documents, including modifications to mortgages and mortgage notes. Ability to read and interpret documents such as loan offerings, commitment letters and procedure manuals. Ability to review title commitments and policies. Ability to write routine reports and correspondence. Ability to use strong interpersonal skills to clarify instructions from lenders, attorneys, and other bank representatives to resolve problems and correct discrepancies that negatively affect the production of loan documents that conform to bank policy. Basic PC skills including Microsoft Word, Excel. Preferred familiarity with nCino, Miser, Ilien, Baker Hill, Statewide, and First American Flood Data Services software packages. Required Experience: High School Diploma or GED and a minimum of two years' experience required in Commercial Loan Documentation, post-closing or other related Commercial Lending area. Associates Degree with related experience and/or Paralegal Certificate preferred. Full-time/Part-time Full-time FLSA Non-exempt Location(s) Wayne , New Jersey , United States Job Details Pay Range Pay Range The estimated pay range for this job. Disclosing pay information promotes competitive and equitable pay. The actual pay rate will depend on the person's qualifications and experience. $23.17 - $38.65 / hour Pay Transparency In order to support the Fair Compensation Strategy by the US Govt., HR Dept., clients are required to adhere to "Pay Transparency Law"; in the impacted states; that have mandated the employers to list the salary ranges in Job advertisements or postings for job opportunities and Job promotions.