Flagstar Bank
Location
Jackson, MI | United States
Job description
The Warehouse Lending Documentation and Compliance Administrator is responsible for supporting the Documentation and Compliance Manager with drafting and reviewing legal documentation and ensuring correspondent banks are in compliance with approved credit actions. Work with Borrowers external counsel and management during contract negotiations. This includes tracking, documenting, processing and insuring accuracy of all documentation submitted coupled with understanding of communication and processes for negotiations between correspondent banks and Flagstar via external counsel. Verification of documentation executed properly, received and stored in online record keeping system as well as hard copy vault files. Responsibilities also include miscellaneous compliance and regulatory needs of the Warehouse department related to documentation, proprietary systems and security interests such as UCC filings and continuations. This position is also responsible for helping ensure legal templates are up to date with changes received from legal counsel, internally or externally. Ability to provide support of other functions of the administrative team such as the application process, insurance compliance, scanning and other administrative duties. This role will operate on a higher level and with more authority than the Warehouse Lending Documentation & Compliance Associate.
Work with Borrowers, external counsel and management to facilitate contract negotiations when needed among multiple parties/lenders. Complete Uniform Commercial Code searches and filings on new and existing customer to ensure security position for liens as well as monitor the needs to amendments and continuations. Ensure executed documentation has been received, executed, filed and added to online storage.
Create warehouse lending contracts and other legal documents as required from Warehouse credit approvals and other Warehouse regulations/requirements. Ensure warehouse legal document templates are up to date. Work with external and internal parties to ensure additional special forms are up to date for continued use. (15% of time) Compare and review warehouse lending documents to approved terms for accuracy and complete execution and work with Documentation and Compliance Associates to ensure accuracy of all reviews.
Correspond with warehouse lending associates, companies and various internal Flagstar departments. Assist Documentation and Compliance Manager during audits and reviews for accurate documentation requests.
Work with various reports and spreadsheets to track the process of contracts (changes, submission to customer, submission back to Flagstar from the customer, etc.). Type various correspondence, including letters and e-mails, for communication with customers and internal partners.
Job Requirements:
7+ years working with commercial loan documentation drafting and review or contract negotiation
Bachelor’s Degree in Business Administration or Paralegal studies or 5+ years’ experience as a paralegal or documentation manager in a commercial loan setting.
Paralegal or commercial loan contract negotiation experience
Working knowledge of Microsoft Office Suite, specifically Microsoft Word & Excel. Knowledge of Lotus Notes, preferred.
Proven customer service skills and the ability to resolve problems and prevent customer dissatisfaction.
Demonstrated ability to follow company policies, guidelines and procedures
Strong attention to detail and ability to multi-task.
Strong listening, verbal and written communication skills
Knowledge of Commercial loan documentation or legal documentation
Knowledge of the mortgage and banking industry, preferred.
Previous experience working with external counsel on legal documentation
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