Details
Posted: 05-May-23
Location: Westborough, Massachusetts
Salary: Open
About Us
**New Hires are eligible for a $2,500.00 sign on bonus.**
Overview
This position provides technical and customer support to commercial real estate officers including preparation of loan and security documents, resolution of customer operating problems, review and resolution of exception reports, and working with commercial real estate customers on day-to-day support requirements to insure MSB delivers high quality service to those customers. Works on assignments that are specialized in nature where independent action is required. Position requires knowledge of operational procedures, practices and policies within the department. Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and fellow employees.
Responsibilities
- Reviews construction advance requests to determine proper documentation is in place, verifies construction advance request, internal loan budgets, and physical inspections agree and are in line with loan requirements, prepares advance forms, obtains appropriate signatures and verifies completion of advance through Loan Servicing department.
- Reviews Partial Release request from attorneys and provides appropriate payoff figures to attorneys. Prepares partial release documentation and forwards to attorney upon receipt of payoff amount, sends payoff to Loan Servicing with instruction for application of funds and maintains record in customer file.
- Assists in the preparation of Portfolio Analysis reports and prepares several internal department reports, including Construction Absorption Report, Interest Reserve, Tri-Partite Agreements, among others.
- Reviews loan documentation packages to ensure they reflect the specific underwriting loan structure unique to each transaction. Works with outside counsel and loan operations to ensure all required documentation is gathered and prepared for review and execution by borrower. Orders and reviews such documents as Flood Determination Certifications, Credit Reports, Title Certifications, Appraisals and Environmental Inspections. Ensures closed loan packages are properly processed and all appropriate records/files are obtained, correctly and accurately completed, and properly filed in the appropriate credit and/or legal file.
- Works on a day-to-day basis with customers to resolve operational issues and resolve documentation exceptions. Requests and monitors required credit file documentation for ongoing file maintenance such as financial statements, tax returns and personal financial statements. Responds directly and in a timely manner to customer inquiries for information or problem resolution.
- Works closely with Loan Servicing to resolve errors and ensure loan transactions are posted and processed in a timely and accurate manner. Responsible for ensuring the input documents for submission to Loan Servicing or other processing areas are complete, accurate, and properly signed/authorized.
- Maintains knowledge of all regulatory compliance and all bank policies and procedures related to commercial real estate and job function and applies to job responsibilities. Completes all required annual or job specific training and actively participate in all training/development opportunities.
- Assists commercial real estate officers in preparation of loan documentation, including but not limited to credit memos, loan approval forms, real estate mortgage (REM) forms, extension agreements, amendments and criticized loan reports.
- Reviews credit bureau, flood determination, title search, environmental and inspection invoices for the department for accuracy and reconciles general ledger accounts for same with accounting department.
- Performs other duties as may be required.
Requirements
Education
- Associate's Degree or the equivalent is Required
Work Experience
- 1-3 years experience in commercial real estate administrative role or related field acting under broad guidelines for day-to-day activities is Preferred
- Technical construction administration experience is Preferred
- Prior experience working with customers is Preferred
Knowledge, Skills, and Abilities
- Must have strong organizational, customer service and communication skills and the ability to manage multiple tasks.
- Must possess at least intermediate technology skills, including knowledge of word processing and spreadsheet applications.
- Must possess the ability to work independently under prescribed guidance.
Middlesex Savings Bank is an EOE AA M/F/Vet/Disability
