Loan Servicing Specialist II - Commercial

Middlesex Savings Bank•Westborough, MA

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 service to customers and coworkers. The role handles loan setup, servicing transactions, escrow administration, modifications, payoffs, account balancing, regulatory review, and related operational duties. It also supports team training and works with the manager to ensure timely and accurate loan servicing practices.

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.
Strong attention to detail, organization, and customer service orientation.
At least intermediate technology skills, including knowledge of Microsoft Office applications.
Knowledge of Abrigo and COCC Insight.

Nice To Haves

Paralegal certificate.

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 loan transactions and payments, including principal recalculations, interest, borrowing base processing, rate adjustments, reversals and reapplications, payoff wire review, and payment information requests.
Perform escrow analyses, ensure timely real estate tax payments, create and review initial escrow disclosures, respond to escrow-related requests, and process yearly escrow analyses.
Make advances and disbursements on Commercial Lines of Credit and process internal deposits, wires, or treasurers checks as requested.
Review requests and associated risks; process re-amortization schedules and modification agreements; calculate new payments; and prepare customer disclosures and agreements for signature.
Prepare and process commercial mortgage, commercial loan, and construction loan payoffs; prepare discharge documents and customer and attorney letters; and verify Note information.
Work with the manager to support timely and accurate loan servicing practices and assist with training loan servicing staff.
Monitor and update rate and payment change records, send adjustment notices, and respond to customer inquiries and concerns.
Balance general ledger accounts, including reconciliation, research, and correction processing.
Examine Total Relationship Exposure data 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 coworkers' new loan setups using daily reports and verify new loan setups and approvals daily.
Perform monetary and non-monetary maintenance on loans and support team members with transaction processing, post-closing, payoffs, and vault responsibilities.
Review automated daily rate schedule updates and manually process SOFR rate schedules daily and Prime rate schedules 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 complete related or unrelated duties as required.