Assistant Loan Specialist

Accounting & Finance Full Time

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Full Job Description

Organization Profile

The primary mission of the LCEF is to provide financial resources and related services for ministry, witness, and outreach of The Lutheran Church-Missouri Synod. In so doing it shall raise funds primarily through the issuance of notes and other debt instruments. Its assets shall be used exclusively for the following: To provide financing and services for the acquisition of sites; the construction of facilities; the purchase of buildings and equipment; operating expenses; professional church worker education; the residential housing needs of professional church workers; and other purposes approved by its governing board consistent with the ministry and mission of the Synod under policies approved by the Board of Directors of Synod

Reporting Relationships

Reports to the Loan Processing Manager.

Essential Job Functions

Set up and maintain loan records on the loan origination system.

Contact borrowers within 24 hours of loan approval and explain loan terms and conditions.

Issue Approval/Commitment Letters on all loans covering all terms of the loan approval including those terms unique to a specific loan.

Assist with monitoring loans in the approval stage for receipt of documentation in a timely manner and respond to inquiries from borrowers and/or title companies.

Review Constitution/Bylaws and Articles of Incorporation to prepare the necessary Corporate borrowing Resolutions or review Resolutions supplied with application to assure all aspects have been covered appropriately.

Order and review Articles of Incorporation and Constitution and Bylaws preparatory to drafting Resolutions.

Process and distribute, as appropriate, incoming departmental mail.

Maintain legal files, including but not limited to, checking out files, checking in files, filing documents within and reviewing imaged files for accuracy and completion.

When necessary, order Title Insurance Commitments and may assist with reviewing the Commitment for necessary requirements and to address all exceptions, determining acceptability or removal from the final policy of title insurance. Obtain affidavits, indemnity agreements and escrow agreements that will assure compliance with loan and state title regulatory requirements, survey coverage and lien exceptions during the construction period.

Prepare loan closing package according to checklist requirements, securing, assembling, and executing all required documents, i.e. Extension/Modification Agreements, Note Modifications, affidavits, Promissory Note, Deed of Trust/Mortgage and letter of instructions for review by Manager Loan Processing or Vice President Loan Administration.

Work closely with Loan Specialist Lead(s) or Loan Specialist(s) on construction loans and related documents on a limited basis while in training in the area of construction loans.

Authorize payments for loan disbursements within authority limit.

Assist with preparing loan files for post-closing review by Manager Loan Processing or Vice President, Loan Administration.

Assist in reviewing daily, weekly, monthly and annual reporting of the loan origination system including: inventory, closed loans, post closed loans, loan exceptions, all and open accounts and disbursement reports.

Assist with preparing satisfaction/releases and partial releases on paid off loans and returns contents of files to appropriate entity when required.

Review loan and construction disbursing files to verify accuracy after these have been imaged.

Assist the Loan Specialist Lead(s), Loan Specialist(s), Manager Loan Processing and the Vice President, Loan Administration in any and all other assignments from time to time as required.

Comply with revisions made from time to time, after mutual consultation, in this position description.
Education and Experience

Minimum one year of experience in commercial loans, preferable within a credit union, savings and loan institution, bank or title company.

College degree preferred; must have high school diploma.

Competencies (Knowledge, Skills and Abilities)

Ability to prioritize and multi-task; strong organizational skills, detail oriented, efficient and ability to maintain a high degree of accuracy; ability to work well under pressure.

Excellent written and verbal communication skills with internal and external customers.

Positive attitude and team player; ability to work as a member of a team to produce needed outcomes and meet deadlines.

Must be willing to adhere to corporate values.

Strong computer skills, including Microsoft Office and cloud-based programs; ability to learn proprietary and non-proprietary software applications.

Supervisory Responsibility


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