Loan Servicing Specialist II

Midland States Bank•O'fallon, MO

10d•$20 - $22•Hybrid

About The Position

This position falls within Loan Servicing, the production arm of Loan Operations. The Loan Servicing Specialist II is primarily responsible for handling the basic to moderately complex functions assigned to Loan Servicing within the following areas: Loan Servicing, Loan Booking, Loan Collateral and Loan Escrow. This individual will assist and provide support as needed in order to foster and sustain a strong team environment. Loan Servicing functions entail performing daily maintenance into the Core system from basic to complex requests, working exception reports, processing maintenance Workflows, performing balancing tasks for various loan accounts, researching and clearing recon items, researching and resolving Credit Bureau disputes, resolving Lockbox rejects, performing various payment processing functions, processing non-performing loan and charge-off transactions, processing floor-plan and participation loan transactions, researching and responding to customer inquiries. Loan Booking functions entail onboarding loans to our bank’s Core system as they come from Loan Funding. Loan Booking handles onboarding all consumer and commercial loans, and the mortgage portfolio as well as performing maintenance for renewals and change in terms. Loan Escrow functions entail ensuring all real estate taxes, insurance premiums, and PMI/MIP premiums are properly disbursed and paid for all borrowers who escrow these payments through their loans. Loan Escrow is additionally responsible for running escrow analysis, performing maintenance on the bank’s Core system, posting payment exceptions, and tracking delinquent real estate taxes. Loan Collateral functions entail the following: track all collateral held within the bank’s loan portfolio, perform collateral validation, ensure borrowers obtain and maintain adequate insurance, verify and track flood requirements, force place insurance, and communicate with the lending team and customers to protect the collateral position of the bank. This individual would also process and sort the Corporate office’s mail as well as disburse the department’s mail.

Requirements

High School Diploma and 1+ years of relevant banking experience.
Knowledge of commercial, consumer, and mortgage loans preferred.
Demonstrated ability to learn and use new software and programs.
Proficient in Microsoft Office Suite.

Nice To Haves

Knowledge of commercial, consumer, and mortgage loans

Responsibilities

Receives, validates and completes basic to moderate complexity loan maintenance requests.
Processes loan payments and payoffs.
Researches payment issues and discrepancies.
Researches and resolves reconcilement items.
Researches and processes un-posted items.
Compiles, reviews, and manages distribution of funds for insurance loss claims
Assist with general escrow analysis inquiries.
Performs loan research; able to answer and resolve basic to moderately complex inquiries of various loan types in commercial, consumer, and mortgage.
Responsible for Credit Bureau reporting and Credit Disputes.
Performs credit card maintenance and new card booking audit.
Answers all inbound basic to complex loan servicing calls routed to Loan Servicing, by resolving / answering questions or escalating to the appropriate representative or team for resolution.
Performs outbound courtesy calls to loan customers as needed.
Ensures that all collateral ticklers are set according to the specifications outlined in the lending agreements/documentation.
Review, tracks, and update collateral through reports and escalates exceptions
Tracks and updates hazard insurance collateral; sending out reminder letters when necessary to meet government guidelines.
Proactively works all aged collateral items.
Disburses escrow payments and processes escrow refunds for all escrow types including insurance, taxes, and PMI.
Force places coverage for hazard insurance per guidelines and timeframes.
Handles all flood tracking, coverage review, and escrow disbursements while adhering to government guidelines.
Performs escrow analysis, distributions, refunds and related customer support for escrow analysis.
Tracks delinquent real estate taxes and takes necessary actions as required to protect the bank’s interest.
Processes/sorts Corporate mail and disburses department mail.
Onboards consumer, mortgage and commercial loans onto bank’s core system.
Processes renewals, extensions, and modifications onto bank’s core system.
Provides high level of quality service by using excellent telephone etiquette.
Scans, files, and re-files documents in the bank’s imaging system as related to loan servicing tasks performed.
Escalates questionable transactions and reoccurring issues to management in a clear and timely manner.
Provides exceptional customer service to our customers and business partners.
Consistently meets all regulatory and legal guidelines surrounding all assigned functions.
Observes all security, privacy and compliance requirements.
The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.
May require work in a Midland office to ensure collaboration and support of internal and external customers.
Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
Other duties as assigned.