Loan Operations Manager

The Loan Operations Manager will be responsible for managing both the Residential and Commercial lending staff and will coordinate the daily activities to efficiently process and maintain loans. A successful Loan Operations manager will be able to adapt to the challenges that may arise while working for a smaller banking institution which may require the candidate to assume new duties and challenges. Accuracy and a strong attention to detail are imperative to the success of this position as well as complying with all bank regulations, policies, and procedures.

Duties and Responsibilities of the Loan Operations Manager:

• Manage the Loan department; work with staff closely on daily items, assign tasks, approve time off, quarterly reviews.
• Coordinate loan staff meetings regularly and in person training for product and policy updates, regulation changes, etc.
• Underwrites and reviews commercial, consumer, and residential loans. Evaluate loan applications from originators for risk, accuracy, consistency, and completeness. Any suspicious activity noted should be reported to the BSA Officer immediately.
• Manage the loan pipeline, ensuring loans are kept on track and meeting deadlines.
• Work with appraisers, attorneys, title companies, and municipal agencies.
• Maintains appraiser, attorney, and title company vendor management profiles.
• Loan account set up and maintenance on new and existing loans including tax and insurance escrows, Private Mortgage Insurance, and VSI processing.
• Prepare for all loan audits, work with senior management, auditors, regulators, customers.
• Work closely with Loan Originators, keeping originators on track through the loan process.
• Creates and maintains a file for each application, underwrites loan applications to ensure they follow regulations, bank policies and procedures.
• Receives and processes borrower funds for appraisals in a timely manner.
• Takes ownership of concerns and follows through with a resolution.
• Perform loan maintenance, corrections, and research.
• Assist branch personnel with loan payoffs for all types of loans.
• Send letters to customers for all maturing lines of credit.
• Processes loan payoffs for all types of loans.
• Tracks delinquent insurance referring any form of collection to the collections manager.
• Prepare loan closings by updating final fees and producing a closing disclosure, produce accurate closing documents for the settlement attorney.
• Fund loans on the day of disbursement.
• Prepare closed mortgage files for secondary market, such as Rural Development, Maine State Housing, and Federal Home Loan Bank of Boston.
• Discharge paid off mortgages with the registry of deeds.
• Prepares loan reports for the monthly Board of Directors meeting.
• Review and maintain loan rates within Cleartouch and LaserPro.