Consumer Loan Specialist

Peapack Private Bank & Trust is a well-recognized, high-performing boutique bank; a leader in wealth, lending and deposit solutions, capable of providing the most sought-after products and services that fulfill all of our clients' needs. We offer an innovative approach to private banking to help clients establish, maintain and expand their legacy.

What makes Peapack Private different from our competition? We are an institution that's over 100 years old that has always believed in putting the well-being and needs of our employees and our clients first. We are proud to be recognized for the sixth consecutive year, by American Banker as one of the 'Best Bank to Work For' across the nation. Our secret sauce in one word is our 'culture'. We value a diverse, equitable, inclusive and safe workspace. Our one-team culture goes to great lengths to show all employees that they are valued members of the team. We treat each other as family, and as such, communicate throughout the Bank in a transparent and frequent manner, respect and value feedback from all levels and operate with a philosophy of hospitality and general human kindness.

There are multiple ways to build relationships and get involved; from joining one of our Cultural Ambassador Sub-Committees focused on our Wellness, Employee Fun, Diversity & Inclusion, or Environmental Awareness, to involvement in multiple community service activities through our Volunteerism outreach, to joining LIFT (a committee focused on enriching the lives of women - Leading Inspiring Females Together). Said quite simply, the culture is amazing!

Position Summary

Oversee the documentation and submission process for home equity lines of credit, professional lines of credit, other consumer loans, and residential mortgages, as needed. Serve as the main point of contact to the relationship manager/loan officer, branches and borrower, as per the needs of the Branch, RM, real estate agent, underwriter/credit officer and closer from origination through closing. Obtain and verify the accuracy of all required documentation from client and third parties. Process and ensure that all loan files comply with company lending policies, as well as state and federal lending regulations.

Responsibilities:

• Review incoming consumer loan applications for completeness. Communicate missing items with branches and relationship managers/loan officers.




• Review new files as per the SLA within 24-48 hours.
• Review, analyze and evaluate loan applications and requested documentation for accuracy, including appraisals, credit reports, income and asset documents, prior to submitting loan to underwriter/credit officer for loan approval
• Disclose applicable loan packages within regulatory requirements
• Monitor and Manage pipeline to meet contract deadlines and expirations
• Monitor loan application status through automated reporting and data tracking
• Ensure follow-up procedures and proper timelines are adhered to with all loans in the Pipeline.
• Serve as a liaison between sales and underwriting to streamline the process.
• Assist with notifying applicants of loan decisions as necessary
• Assist in closing, post-closing or funding issues
• Assist/cross train in residential mortgage processing, as needed




• Maintains current knowledge of consumer & residential lending department policies and procedures




• Stay abreast of changes in Internal, State and Federal policies, standards, and regulations concerning lending practices.
• Develop, maintain knowledge, and comply with company policy and secondary market requirements pertaining to credit/security standards and regulatory requirements relative to conventional, government, and self-employed loans requirements.
• Stay up to date on Internal Compliance training

Qualifications:

• Associate degree; High School diploma
• Five to seven years' experience in a financial institution mortgage lending or consumer lending department with HELOC experience preferred
• Strong understanding and knowledge of consumer lending products and residential mortgages documentation
• Excellent oral and written communication skills
• Ability to read, write, and speak English clearly
• Ability to interact effectively and tactfully with all levels of the Bank either in person or over the telephone
• Ability to identify and resolve problems in a timely, objective, and confidential manner.
• Must be an organized, independent, and detail-minded individual
• Ability to operate a PC with proficiency in Word and Excel; working knowledge of Silverlake and Microsoft Outlook
• Ability to operate all office equipment

Benefits Overview:

We offer a competitive compensation package, a generous paid time off program, comprehensive medical, dental and vision coverage, maternity/paternity leave, a hybrid work environment (for most roles), education reimbursement, wellness programs and more. We also offer participation in an Employee Stock Purchase Program and a 401K with a generous match.

The approximate pay range for this position is $50,829 to $62,000, plus an opportunity to earn performance-based incentives. Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills and abilities, as well as geographic location.

Note: Incentives and/or benefits packages may vary depending on the position.