Loan Administrator

Company: Capital For Change, Inc

Location: Wallingford, CT

Job Function: Lending/Loan Operations


Background

Founded in 2016, our nonprofit is the direct result of the merger of three established community development financial institutions (CDFI’s) with decades of combined experience. Capital for Change (C4C) has grown to be the largest full-service CDFI in Connecticut. With support from our community-minded investors and partners, we create high impact lending programs and products that help develop affordable housing, increase energy efficiency, and nurture small businesses and nonprofits.

Summary

This position’s primary responsibilities are to support the Commercial Lending Department loan administration process from loan approval through closing, funding 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.

o Coordinate closing and funding process in conjunction with lending officers, borrowers and legal counsel including review of commitment letters and documents as needed. Ensure compliance with all loan closing and funding requirements. Prepare booking form for onboarding loans and compiling impact data. 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 approval and closing steps. Provide administrative assistance for all Commercial Lending related committees including sending meeting notices, meeting materials, tracking attendance and taking minutes. Manage contracting with relevant consultants (e.g. appraisers, inspectors, etc.)

 

 

Responsibilities

Review and process funding disbursement requests, ensuring proper documentation and compliance with loan conditions. Ensure that all loan data points have been entered into the Commercial Lending Salesforce Database and provide pipeline and other reports as needed. Assist in processing existing loan modifications, renewals, deferments, and any other such loan action that requires a change to the original legal loan documents of existing loans. Assist in grant application and reporting activities as needed. Work closely with the Finance department to ensure correct accounting for all loans especially with reference to maintain tracking of reimbursable expenses. Provide support and input to Portfolio Manager including assistance with monitoring reports, impairment reports (PARs) and other needs.

 

Requirements

Previous experience in loan administration or related field preferred – Knowledge of escrow, mortgage servicing, and loan origination processes – Familiarity with FNMA guidelines and underwriting standards – Understanding of Fair Housing regulations and compliance requirements – Proficient in 10-key typing and data entry skills – Strong attention to detail and ability to multitask in a fast-paced environment – Excellent communication and interpersonal skills – Ability to work independently as well as part of a team

Compensation and Benefits

$58000.00 – $60000.00  Annually

Full Health package, Medical, Dental, Vision, FSA, HSA, 401k, etc.,

How to Apply

Log into Capitalforchange.org, click on career and complete application