Loan Servicing Specialist I - Commercial

Middlesex Savings Bank•Westborough, MA

About The Position

Performs a variety of loan servicing and processing activities for the Commercial Lending Division in accordance with established bank policies, procedures, objectives, and regulatory compliance guidelines. Provides service and responsiveness to customers and co-workers, researches and resolves servicing issues within the scope of authority and expertise, and supports other members of the Loan Servicing team.

Requirements

1–2 years of lending, banking, or commercial loan servicing experience is preferred.
Must be detail-oriented, highly organized, and customer-service-oriented.
Must have at least intermediate technology skills, including knowledge of Microsoft Office applications.

Nice To Haves

Associate's degree or equivalent relevant work experience is preferred.
1–2 years of lending, banking, or commercial loan servicing experience is preferred.

Responsibilities

Set up new loans for all lending teams within the Commercial Lending Division.
Review legal documents and setup forms for accuracy and completeness.
Research and resolve servicing issues in support of loan officers and customers.
Work with the manager to ensure timely and accurate loan servicing practices.
Monitor, maintain, and update rate and payment change records; send adjustment notices and respond to customer inquiries or concerns.
Manually calculate daily interest and per diem rates for customers, lenders, or attorneys when needed.
Perform monetary and non-monetary maintenance on commercial loans, including loan and fee payment processing, interest rate changes, and re-amortization of payment schedules.
Prepare and process payoff requests for commercial mortgage, commercial, and construction loans.
Prepare commercial mortgage discharge documents and customer and attorney letters; review Note information for accurate and complete discharge details.
Identify Flood, CRA, and other regulatory issues through setup forms and documents.
Perform advances and disbursements on Commercial Lines of Credit, reviewing and researching requests to ensure associated risks have been mitigated.
Support the responsibilities of other Loan Servicing team members.
Perform duties in accordance with regulatory compliance guidelines and undertake other related or unrelated duties as required.