Loan Servicing Coordinator
About The Position
The Loan Servicing Coordinator reviews closed loan documents for accuracy, completeness, proper signatures and dates, and other relevant data, and enters information into tracking software. The role reviews other legal documents as needed; images and indexes loan files; verifies unloaded loans; maintains accurate note and credit file systems; reconciles loan disbursements; and prepares routine correspondence and reports. The coordinator supports loan servicing from loan boarding through payment processing, payoff, and file retention. Duties include maintaining loan system records and credit files, handling mail and inquiries, and responding to requests from customers, lending officers, loan processors, participants, and other parties. The role may also prepare loan modification documentation and process charge-offs or non-accrual loans as assigned.
Requirements
- High school diploma or GED equivalent.
- Three to five years of experience in banking or lending.
- Computer skills, including use of Microsoft Office products, Laser Pro, and other required programs.
- Strong mathematical ability.
- Strong analytical, time-management, and organizational skills, with the ability to handle detail-oriented transactions.
- Excellent written and verbal communication skills, attention to detail, and follow-through.
- Strong interpersonal skills, dedication to teamwork, and enjoyment of working closely with others.
- Ability to interact with coworkers, follow directions and work rules, and accept constructive feedback.
Nice To Haves
- Experience in a Note Department of a commercial bank.
Responsibilities
- Review closed loan documents for accuracy, completeness, signatures, dates, and other relevant information; enter information into tracking software.
- Review legal documents as needed, image and index loan files, and verify unloaded loans.
- Maintain accurate filing systems for notes, credit files, retention storage, and related records.
- Reconcile loan disbursements and prepare routine correspondence and reports.
- Complete callbacks of daily loan system reports as needed to ensure correct payment posting, exception corrections, and loan data.
- Review tickler reports and monitor collateral insurance and other ticklers, including receipt of collateral.
- Board loans onto the loan system, entering information into the correct fields, including ticklers, flex date fields, and addenda.
- Disburse loan proceeds and fees according to Disbursement Authorizations.
- Prepare loan modification documentation in Laser Pro as assigned by the Supervisor.
- Secure collateral and other documentation in safekeeping; prepare and manage credit and non-negotiable document files.
- Process loan payments, draws, and advances, including construction advances.
- Process participation payments and advances and forward them to the appropriate participant in accordance with the Participation Certificate.
- Process the Guidehouse SBA 1502 Report as needed.
- Maintain loan system records, including balancing loan activity, preparing general ledger entries, verifying data entry, and correcting errors or maintenance issues.
- Handle incoming mail, including receiving, sorting, copying, and filing.
- Provide loan balances, payoff amounts, and payment information to customers, lending officers, and processors.
- Process paid loans, including customer letters and collateral releases.
- Respond to payoff demands, first notifying the Loan Officer that a demand has been received.
- Research and respond to exceptions reported by loan officers or processors and respond to customer inquiries.
- Respond to credit verification and payoff requests.
- Process charge-offs or non-accrual loans as needed and maintain accurate records on non-accrual billed loans.
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What This Job Offers
Job Type
Full-time
Education Level
High school or GED
