JPMorgan Chase Loan Coordinator – Commercial Term Lending (CTL) - Commercial Bank - Irvine, CA in Irvine, California
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan Chase & Co brands. JPMorgan Chase & Co.is committed to providing a comprehensive set of benefits choices to meet different employee needs and lifestyles, which include choices such as Flexible Work Arrangements with periodic work from home and non-standard business hours, fully paid parental leave time, health care insurance and retirement benefits.
Commercial Banking serves more than 30,000 clients, including corporations, municipalities, financial institutions, and not-for-profit entities with annual revenues generally ranging from $20 million to $2 billion. The Firm's broad platform positions the Commercial Bank to deliver extensive product capabilities - lending, treasury services, investment banking, and asset management - to meet our clients' domestic and international financial needs.
The Loan Coordinator reports directly to the Processing Supervisor or Operations Manager (OM). The incumbent processes and reviews multi-family and commercial real estate loan files in accordance with established goals, objectives, policies and applicable regulatory requirements. The Loan Coordinator works directly with business partners to support the loan origination process through review and validation of the electronic loan file to ensure the file is complete and accurate prior to submitting to Underwriting and Closing.
Conduct a thorough review of the electronic loan file to ensure it includes all relevant requirements, within designated turn-times and in accordance with departmental and regulatory requirements.
As assigned, work with OM, Client Specialist, Appraisal, Flood, Insurance, Legal and Closing business partners; along with outside Escrow and Title partners to ensure all documents are reviewed for accuracy, completeness and compliance with all Reg B, HMDA, application and rate lock requirements.
Review Borrower's loan application package and prepare an additional information letter (if required). Convey any issues discovered to the appropriate person in a timely manner.
Validate the Borrower’s/Principal's entity structure, credit and financial liquidity.
Obtain and review preliminary title report, underlying title documents and title proforma for acceptability and required endorsements to meet Bank guidelines. Work directly with Title/Escrow partners to obtain additional information, as needed.
Review Borrower request(s) for changes and/or waivers of certain forms or loan documents and conditions, identify issues and concerns, coordinate timely communication of request(s) with Client Specialist, Regional Field Operations Manager and/or Client Manager.
Perform audit of Sales file and Underwriting file to ensure accuracy and thoroughness of data entry into appropriate Chase tracking systems prior to submission to the Closing/Delivery Group
Effectively manage expectations of Sales Teams in terms of timelines and completion of loan documentation checklist throughout the loan review process.
Partner with dedicated Sales team to perform parallel processing of the loan file, ensuring efficient turn times from application through submission to Closing.
The Loan Coordinator is the point of contact person for the Sales Teams, Underwriters, and Loan Closers throughout the due-diligence process to answer any questions that may arise. Work independently through complex transactions in a multi-state environment, coordinate specialized documentation with third parties as needed; identify issues/concerns and coordinate timely communication of request(s) with appropriate business partner(s) or Manager to expedite resolution.
Provide feedback to Management on operational improvements to processes/workflows. Perform accurate audit of files prior to submission to Underwriting and prior to submission to Closing.
As assigned, consult with Client Specialists, Client Managers, Operations Managers and Credit Executives on regional differences.
Promote and provide excellent customer service by effectively communicating and cooperating with all internal and external business partners. Balance the test of reasonableness vs. compliance risks when stopping a file from moving forward in the process.
Develop and maintain knowledge of moderately complex MFL and CML loans and comply with Bank policy and regulations, industry standards, conveyance/settlement procedures, current real estate laws and terminology, and appraisal requirements.
Manage or demonstrate capacity to manage a pipeline averaging 20-25 loans at various stages (initial file review, submit to Underwriting and submit to Closing) and averaging 20 loans funded per month.
Maintain a constant balance of producing quality with a high-volume workload.
Performs related work, as required.
All employees are accountable for compliance with all laws and regulations when performing their job duties. It is the affirmative duty of each employee to carry out these responsibilities at all times in a manner that complies with all applicable legal and regulatory requirements. Employees must participate in required training on pertinent compliance laws and regulations as required by Chase Commercial Banking, including Commercial Term Lending specific training.
High school diploma or GED
Bachelor’s Degree preferred
3-5 years related job experience with knowledge of residential or commercial real estate loan processing concepts and related government regulations to independently prioritize, organize and execute loan processing functions to meet time sensitive and mandatory delivery deadlines in a high volume, regulatory environment.
Strong Communication skills
General Office experience
Data and Analysis
Organized and detail-oriented
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.