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Creating Standard Operating Procedures for your Commercial Lender work can be difficult and take time. That’s why we’ve created these example Commercial Lender SOPs so you can jumpstart your SOP creation process. We want to help you set up your Banking systems and processes by taking these sample SOPs and building out your own SOPs template library. By having all your Banking procedures in one place, your team will have the information they need at all times. Let’s look at some Commercial Lender SOP examples.
1. Loan Application Processing: The purpose of this SOP is to outline the steps involved in processing loan applications from start to finish. It includes gathering necessary documentation, conducting credit checks, assessing the borrower’s financial position, and making a decision on loan approval. The scope of this SOP covers all loan applications received by the commercial lender. The person responsible for this SOP is the loan officer. References to other SOPs include the Credit Check SOP and Loan Approval SOP.
2. Credit Check: This SOP details the process of conducting a thorough credit check on loan applicants. It includes obtaining credit reports, analyzing credit scores, reviewing payment history, and assessing any outstanding debts. The purpose of this SOP is to ensure that the commercial lender has a comprehensive understanding of the borrower’s creditworthiness. The scope of this SOP applies to all loan applications. The person responsible for this SOP is the credit analyst. References to other SOPs include the Loan Application Processing SOP and Loan Approval SOP.
3. Loan Approval: The purpose of this SOP is to outline the criteria and process for approving or rejecting loan applications. It includes evaluating the borrower’s financial stability, assessing the collateral, determining the loan amount and interest rate, and preparing loan documents. The scope of this SOP covers all loan applications received by the commercial lender. The person responsible for this SOP is the loan committee or loan officer. References to other SOPs include the Loan Application Processing SOP and Credit Check SOP.
4. Loan Disbursement: This SOP outlines the steps involved in disbursing approved loans to borrowers. It includes verifying the loan documents, coordinating with the borrower’s attorney or title company, and ensuring all necessary conditions are met before releasing funds. The purpose of this SOP is to ensure a smooth and efficient loan disbursement process. The scope of this SOP covers all approved loans. The person responsible for this SOP is the loan disbursement officer. References to other SOPs include the Loan Approval SOP and Loan Documentation SOP.
5. Loan Documentation: The purpose of this SOP is to provide guidelines for preparing and maintaining accurate loan documentation. It includes creating loan agreements, promissory notes, security agreements, and other necessary legal documents. The scope of this SOP covers all loans originated by the commercial lender. The person responsible for this SOP is the loan documentation specialist. References to other SOPs include the Loan Approval SOP and Loan Disbursement SOP.
6. Loan Servicing: This SOP outlines the procedures for managing and servicing loans after they have been disbursed. It includes collecting loan payments, monitoring borrower compliance with loan terms, handling loan modifications or extensions, and managing delinquencies or defaults. The purpose of this SOP is to ensure effective loan administration and minimize risk for the commercial lender. The scope of this SOP covers all loans serviced by the commercial lender. The person responsible for this SOP is the loan servicing officer. References to other SOPs include the Loan Disbursement SOP and Loan Documentation SOP.
7. Loan Portfolio Management: The purpose of this SOP is to establish guidelines for managing the commercial lender’s loan portfolio. It includes monitoring loan performance, conducting periodic reviews, identifying potential risks, and implementing strategies to mitigate those risks. The scope of this SOP covers all loans held by the commercial lender. The person responsible for this SOP is the loan portfolio manager. References to other SOPs include the Loan Servicing SOP and Loan Approval SOP.
8. Regulatory Compliance: This SOP outlines the procedures and guidelines for ensuring compliance with relevant banking regulations and laws. It includes conducting regular audits, maintaining proper documentation, and implementing internal controls to prevent non-compliance. The purpose of this SOP is to minimize legal and regulatory risks for the commercial lender. The scope of this SOP applies to all operations within the commercial lending department. The person responsible for this SOP is the compliance officer. References to other SOPs include the Loan Servicing SOP and Loan Documentation SOP
Looking for SOP templates for your Commercial Lender work? We’ve got you covered. You can build out your company SOPs using the sample SOP information above (added to our template) or our team can put together a starter SOPs template based on your Commercial Lender work. Get in touch if you’ve got questions about the quickest way to build out your Banking SOPs library.
