Loan Origination Specialist Loan Origination Specialist …

Infinity Consulting Solutions
in New York, NY
Permanent, Full time
Be the first to apply
Infinity Consulting Solutions
in New York, NY
Permanent, Full time
Be the first to apply
Posted by:
Alex Overton • Recruiter
Posted by:
Alex Overton
The Loan Origination Specialist is responsible for all administrative aspects of originating loans and onboarding purchased loans. This role ensures that loan data is collected and accurately entered into the loan origination database and loan documents are collected and compiled into loan files in accordance with company standards. Additionally, the position will assist the Loan Administration Manager with projects and management of non-direct report staff as requested. Key internal partners include the Loan Operations, Lending, Portfolio Management, Audit, and Compliance departments.

Essential Duties and Responsibilities

Loan Origination (60%)

  • Collect loan submission paperwork (including the loan data intake form) from Loan Officers
  • Enter loan data (including HMDA/CRA data) into databases (LaserPro, Premier, Sageworks, and/or DMI) for all new loans, refinances and renewals
  • Prepare and execute loan file document checklists for all loan originations
  • Gather all loan documents and prepare loan files (both hard copy and digital)
  • Process good faith deposits and disbursements of these deposits, and maintain receipts
  • Generate and deliver third party credit reports
  • File UCC-1 and UCC-3 paperwork for assignments and terminations
  • Perform CIP and CDD and validate prerequisites before closing a loan
  • Supply BSA Department with CIP customer information, i.e., OFAC, Applications, ID's and loan documents
  • Generate adverse action and declined loan letters for Commercial and Retail loan requests
  • Submit check requisitions to Accounting for payment to various third party vendors
  • Transmit legal documents to DMI for certain new loans
  • Ensure new loan files are prepared for FHLB pledging (when applicable) and enter data into FHLB database. Manage the pledging process, review documentation, submit loans, track collateral position at FHLB.

Onboarding Other Loans (15%)

  • Enter loan data for purchased loans into loan databases (DMI, LaserPro, or Sageworks)
  • Prepare loan file document checklists for loan pool purchases and other tasks, including:
    • File ordering and stacking
    • Review of calculations for escrow requirements
    • Assist with the preparation of legal documents, good-bye and welcome letters, and UCC assignments
  • Gather all purchased loan documents and prepare loan files (both hard copy and digital)

Compliance and Other Duties (25%)

  • Perform pre-closing review of loan settlement disbursement agreement and CAM
  • Review loan files for completeness and accuracy prior to closing
  • Support the Lending, Compliance, Credit, Portfolio Management, and Loan Workout departments as requested
  • Contribute to loan servicing and assist the Loan Servicing Specialist as needed
  • Generate EasyLender reports for Portfolio Management Loan Review tracking and Lending Department workflow monitoring


  • Minimum Associates Degree or equivalent related business experience
  • Minimum of 5 years experience in loan origination or administration
  • Strong communications skills and the ability to communicate effectively verbally and in writing
  • Excellent organizational, time management, and analytical skills
  • Strong attention to detail
  • Able to read and understand credit approval terms and conditions
  • Knowledge of commercial real estate, construction, business, SBA, residential and consumer mortgage loan processing and loan documentation
  • Knowledge of lien perfection and collateral release processes
  • Knowledge of State, Federal and general banking compliance requirements and regulations
  • Knowledge of Client, EasyLender and Sageworks loan systems
  • Excellent Microsoft Excel & Word skills
  • Familiarity with all phases of loan processing
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