Commercial Loan Clerk processes loan payments and applies funds to customer accounts. Calculates and processes payoffs, and releases titles and insurance interest. Being a Commercial Loan Clerk calculates and prepares refunds for customers that submit overpayments. Responds to customer inquiries and requests for net payoff quotes. Additionally, Commercial Loan Clerk may require an associate degree or equivalent. Typically reports to a supervisor or manager. The Commercial Loan Clerk works under moderate supervision. Gaining or has attained full proficiency in a specific area of discipline. To be a Commercial Loan Clerk typically requires 1-3 years of related experience. (Copyright 2024 Salary.com)
Role:
To originate, manage, and supervise the Credit Union's portfolio of commercial loans, with overall objective of
maintaining and increasing its asset quality; to develop new and existing business relationships.
Essential Functions & Responsibilities:
Takes applications for commercial loan business. Reviews member financial condition and
assesses the member's ability to re-pay the loan. Makes underwriting decisions within approval
authority. Completes or directs completion of all loan documents and closes loans.
Participates in developing lending and deposit business for the Credit Union. Calls on clients to
expand existing business; calls on prospects seeking opportunities to expand the Credit Union's
client base.
Monitors existing loan portfolio to maintain a high-quality asset base. Maintains up-to-date
member files including current balance sheets, profit & loss statements, cash flow projections
and all loan documentation.
Assists in collection of past due loans.
Assists members with any loan-related questions and concerns.
Performs other job related duties as assigned.
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