Loan Servicing Specialist I - Commercial

Middlesex Savings Bank • Westborough, MA

12h

About The Position

Performs a variety of loan servicing and processing activities in accordance with established bank policies, procedures, and objectives. Provides responsive service to customers and coworkers while performing duties within the scope of the role’s authority and expertise. The position supports commercial lending teams and customers with loan setup, maintenance, payment processing, payoff requests, and related regulatory compliance.

Requirements

• 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 preferred.
• 1–2 years of lending, banking, or commercial loan servicing experience preferred.

Responsibilities

• Set up new loans for all lending teams within the Commercial Lending Division and initially review legal documents and setup forms for accuracy and completeness.
• Research and resolve servicing issues for loan officers and customers within the role’s authority and expertise, working with the manager to support timely and accurate loan servicing.
• 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 established payment schedules.
• Prepare and process payoff requests for commercial mortgages, commercial loans, and construction loans for internal and external customers.
• Prepare commercial mortgage discharge documents and customer and attorney letters; review Note information to ensure discharge details are accurate and complete.
• Identify Flood, CRA, and other regulatory issues through setup forms and documents.
• Process advances and disbursements on Commercial Lines of Credit, reviewing and researching requests to ensure associated risks are mitigated.
• Support the responsibilities of other Loan Servicing team members.
• Perform duties in accordance with prescribed regulatory compliance guidelines.
• Perform other related or unrelated duties as required.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed