Commercial Loan Servicer I

GreenState Credit Union•Naperville, IL

About The Position

The Commercial Loan Servicer I is responsible for servicing commercial loans and supporting commercial servicing operations. The role handles payment processing, escrow administration, insurance and property-tax tracking, loan-account maintenance, member communications, reporting, and collateral releases. It also supports servicing software and vendor implementations, develops relationships in the real estate community, and works with Commercial Post Close as a backup when needed. GreenState Credit Union’s purpose is to create lasting value for its members, communities, and employees. The organization emphasizes an engaging, diverse, and inclusive workplace and expects employees to uphold its core values, service standards, confidentiality requirements, and commitment to quality member service. This hourly position pays $23.61–$27.60 per hour and includes a progressive benefits package.

Requirements

High school diploma or equivalent (GED) and six months to one year of related work experience, or a post-secondary degree in Business, Mathematical Science, or another related field.
Report to work punctually, work scheduled hours, and work overtime as business demands.
Interpersonal skills to represent the Credit Union positively during member contact.
Ability to provide quality service to members by phone or in person.
Ability to develop and maintain effective working relationships with coworkers.
Ability to prioritize assignments, organize work efficiently, and handle large volumes of detail.
Ability to use related computer applications, an online terminal, and standard office equipment such as a calculator and typewriter.
Accuracy and attention to detail.
Must be bondable.

Nice To Haves

Lending policies and real estate knowledge preferred.
Escrow experience desired.

Responsibilities

Adhere to the Credit Union’s core values, service standards, mission, and vision.
Provide positive service to internal and external members, maintain confidentiality, support an inclusive workplace, and work collaboratively with coworkers.
Assist with wire postings and back-end file maintenance.
Follow applicable state, federal, and Credit Union regulations, policies, and guidelines.
Develop relationships in the real estate community.
Answer the Commercial Servicing direct phone line and email.
Assist with year-end preparation and mailing of 1098/1099 statements.
Track and pay escrowed insurance coverage, and follow up on lapsed or incomplete coverage to obtain current documentation.
Track and pay escrowed property taxes twice a year.
Assist with selecting, installing or converting, and maintaining software products and vendors.
Participate in developing procedures for commercial servicing, including ongoing support, payoffs, taxes, insurance, and servicing functions.
Stay current on servicing software, regulations, policies, and industry practices to support compliance.
Run daily and monthly reports as needed.
Oversee escrow accounts, communicate with members about escrows, and conduct an annual escrow analysis.
Maintain reporting and verify payment of property taxes for real estate collateral that is not escrowed.
Maintain and track insurance renewal policies for loans not covered by the Blanket Insurance Policy.
Track flood insurance renewals and ensure there are no coverage gaps.
Post commercial loan payments daily.
Research and correct loan-payment errors or improper interest rates; reverse and adjust payments, transfer loans to the correct account or note number, and perform related file maintenance.
Open new Shared Savings Accounts for new Commercial Borrowers.
Set up Commercial members for online banking access.
Work with Commercial Post Close and provide backup as needed.
Maintain the paid-off loan report weekly, prepare collateral releases, and follow up to ensure releases are completed promptly.
Perform other duties as assigned.