Loan Servicing Specialist

Amboy Bank • Old Bridge Township, NJ

398d • $54,080 - $60,320

About The Position

The Loan Servicing Specialist at Amboy Bank is responsible for managing various loan servicing functions for commercial, real estate, and consumer loans. This role involves maintaining active loan accounts, ensuring proper documentation, processing loan payments, and collaborating with attorneys and title companies to meet policy deadlines. The specialist will also handle insurance updates and assist with other loan servicing tasks as needed.

Requirements

• High school diploma or GED; Associate Degree preferred.
• 1 year of experience in commercial loan servicing.
• Strong communication skills, both verbal and written.
• Proficiency in Microsoft Word, Excel, and Outlook.
• Attention to detail and thoroughness in job duties.
• Ability to work independently with little supervision.

Nice To Haves

• Experience in banking operations and functions.
• Knowledge of loan servicing processes.

Responsibilities

• Book new loans and review for accuracy loans booked by other employees.
• Review loan documents such as notes, mortgages, modifications, title policies, and Uniform Commercial Code Financing Statements for imaging and filing.
• Ensure new loans contain proper documentation by securing missing information.
• Monitor documentation with attorneys and title companies to meet policy deadlines.
• Perform final checklist sign off to ensure all credit, collateral, imaging, and other documentation is satisfactory.
• Prepare payoff statements and other request forms in writing as needed.
• Process insurance updates and follow up with insurance agents for renewal policies.
• Handle any other loan servicing functions involving loan maintenance on an as-needed basis.
• Review, sort, and promptly deliver incoming mail for loan servicing department employees.
• Follow through for pertinent missing documentation prior to imaging and filing.
• Process loan payments and loan advances.

Benefits

• Health insurance
• Dental insurance
• 401(k)
• Tuition reimbursement
• Paid time off
• Parental leave
• Employee assistance program
• Vision insurance
• 401(k) matching
• Life insurance
• Retirement plan

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: High school or GED