Loan Servicing Specialist II - Commercial

Middlesex Savings Bank•Westborough, MA

6d•$45,122 - $74,451

About The Position

Performs a variety of commercial loan servicing and processing activities in accordance with established bank policies, procedures, and objectives. Serves as a knowledgeable resource to Commercial Loan Servicing Specialist I and provides responsive, high-quality service to customers and co-workers within the scope of authority and expertise. The role supports commercial, construction mortgage, installment, business overdraft, Small Business, and ACH loan products, as well as related payment, escrow, payoff, documentation, compliance, and account-maintenance activities.

Requirements

Bachelor’s degree or equivalent experience, plus specialized training or coursework.
4–6 years of experience in a related field.
Solid understanding of legal documentation and experience with commercial loan products.
Detail-oriented, highly organized, and customer-service oriented.
Intermediate technology skills, including knowledge of Microsoft Office applications.
Knowledge of Abrigo and COCC Insight.

Nice To Haves

Paralegal certificate preferred.

Responsibilities

Set up new commercial, construction mortgage, installment, business overdraft, Small Business, and ACH loans; review legal and setup documents in Abrigo for accuracy and completeness.
Research and resolve servicing issues for loan officers and customers; process transactions and payments, including principal recalculations, interest, borrowing base processing, rate adjustments, payment reversals and reapplications, wire payoff reviews, and other payment information.
Perform escrow analysis as necessary; ensure timely payment of escrowed real estate taxes; create and review initial escrow disclosures; respond to escrow inquiries; and process annual escrow analyses accurately and on time.
Process advances and disbursements on Commercial Lines of Credit, including internal deposits, wires, and treasurer’s checks; review requests and research associated risks.
Process re-amortization schedules and modification agreements; review agreements for accuracy and completeness; calculate new principal and interest payments; and prepare disclosure statements and agreements for customer signature.
Prepare and process commercial mortgage, commercial loan, and construction loan payoff requests from internal and external customers.
Prepare discharge documents and customer and attorney letters; review note information to ensure discharge details are accurate and complete.
Work with the manager to support timely and accurate loan servicing practices and assist with staff training.
Monitor, maintain, and update rate and payment change records; send adjustment notices and respond to customer inquiries or concerns.
Balance general ledger accounts, including reconciliation, research, and correction processing.
Examine data for Total Relationship Exposure activities and link relationships to loan and deposit accounts in the core system.
Identify Flood, CRA, and other regulatory issues through Abrigo documents and workflows; review co-workers’ new loan setups using daily reports.
Perform monetary and non-monetary maintenance on loans and daily verification of new loan setups and approvals.
Support other Commercial Loan Servicing team members with transaction processing, post-closing, payoffs, and vault responsibilities.
Review automated daily rate schedule updates and manually process the SOFR rate schedule daily and Prime rate schedule as necessary.
Update loan risk ratings and FDIC codes as directed.
Perform COCC validation testing in accordance with COCC enhancements and upgrades.
Perform duties in accordance with regulatory compliance guidelines and carry out other related or unrelated duties as required.