Loan Servicing Specialist

THE FARMERS BANK OF WILLARDS•Willards, MD

23h•$38,000 - $44,000•Hybrid

About The Position

The Loan Servicing Specialist I is an entry-level lending operations professional responsible for supporting post-closing loan processing, loan boarding, servicing setup, record maintenance, and customer follow-up activities. This position ensures accurate loan data entry, proper documentation, regulatory compliance, and a high-quality customer experience following loan closing. This role is ideal for a detail-oriented individual who enjoys working in a team environment while supporting the financial needs of the local community.

Requirements

High school diploma or equivalent required
0–1 year of experience in banking, finance, or administrative support (loan experience preferred)
Strong attention to detail and organizational skills
Excellent communication and follow-up abilities
Customer service mindset and team-oriented approach
Ability to handle confidential information with discretion
Proficiency in data entry and Microsoft Office (Word, Excel)
Ability to multitask and prioritize in a fast-paced environment

Nice To Haves

Prior exposure to loan servicing or operations is helpful but not required

Responsibilities

Enter new loans into the core banking/servicing system
Validate loan data including borrower information, interest rates, payment schedules, escrow setup, and collateral records
Review closed loan packages for completeness and accuracy in accordance with bank policies and regulatory requirements
Perform final data entry into the core processing system, including loan terms, escrow accounts, payment schedules, and collateral records
Reconcile loan setup with the general ledger and confirm proper disbursement of funds
Ensure documents are properly labeled and indexed within the electronic document management system
Process and file necessary titles and liens with appropriate government agencies
Process daily loan payments and apply them accurately to customer accounts
Process loan payoffs, modifications, renewals, and maintenance requests
Handle routine account maintenance including address updates, due date changes, and system corrections
Assist in generating payoff statements and verifying balances
Maintain accurate loan records within servicing systems
Respond to borrower inquiries regarding loan terms, balances, and servicing issues
Collaborate with internal departments to resolve servicing issues
Monitor and update insurance records for secured loans (homeowners, flood, auto, etc.)
Follow up with borrowers or agents for missing or expired insurance documentation
Ensure insurance coverage meets bank policies and regulatory standards
Coordinate with force-placed insurance providers when necessary
Proactively contact customers following loan closing to ensure satisfaction with the loan process
Confirm customers understand payment terms, servicing procedures, and account access options
Identify opportunities to assist customers with additional banking services including deposit accounts, online/mobile banking, treasury services, or future lending needs
Relay customer feedback and service opportunities to loan officers or appropriate departments
Promote a positive, relationship-focused experience aligned with the Bank’s community banking mission
Learn and follow servicing procedures, regulatory guidelines, and internal compliance standards
Maintain confidentiality of borrower and bank information
Support audit requests and quality control reviews as assigned
Assist with special projects and departmental initiatives