Loan Operations Assistant I (Commercial)

Thomaston Savings Bank•Thomaston, CT

7h•$23 - $34

About The Position

This role is responsible for processing modifications of existing loan relationships, maintaining the Bank's loan files with accurate documentation, and processing payoffs and releases of mortgages, assignments of leases, and UCC filings. The position also involves obtaining current UCC and title documentation, preparing Assignments of Mortgage, and reviewing reports from the Bank's insurance vendor to identify and troubleshoot issues. Additionally, the role handles tax, flood, and escrow disbursements, payments, and reporting, as well as responding to emails and calls related to loan operations. The assistant will also process the release of funds for new loans and credit line advances, and manage payments for force-placed insurance, including all related correspondence. Compliance with company policies, procedures, and relevant laws and regulations is mandatory.

Requirements

Accuracy in processing loan modifications.
Proficiency in maintaining loan files and documentation.
Experience with processing payoffs and releases of mortgages, assignments of leases, and UCC filings.
Ability to obtain current UCC and title documentation.
Skill in preparing Assignments of Mortgage.
Experience reviewing insurance vendor reports and troubleshooting issues.
Knowledge of processing tax, flood, and escrow disbursements, payments, and reporting.
Effective communication skills for responding to emails and calls.
Ability to answer routine questions and troubleshoot client issues.
Experience processing release of funds for new loans and credit line advances.
Familiarity with processing payments for force-placed insurance and handling correspondence.
Understanding and compliance with company policies, procedures, and regulations (Bank Secrecy Act, Patriot Act, OFAC).

Responsibilities

Processes modifications of existing loan relationships and assures for accuracy.
Maintains the Bank's loan files, ensuring current and accurate documentation.
Processes pay offs, and releases mortgages, assignments of leases and UCC filings.
Obtains current UCC and title documentation including UCC continuations.
Prepares Assignments of Mortgage.
Responsible for regularly reviewing reports from the Bank's insurance vendor to identify and troubleshoot issues on both escrowed and non-escrowed policies.
Processes tax, flood and escrow disbursement, payments and reporting.
Responsible for responding to emails sent to Consumer and Commercial Loan Operations.
Receiving incoming calls from the Bank's borrowers.
Answers routine questions and troubleshoots any complaint or question from internal or external clients.
Processes release of funds to borrowers in connection with new loans and credit line advances.
Processes payments for force placed insurance, and handles all correspondence to the Borrower and loan file.
Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.