Loan Servicing Specialist

First Merchants Corporation•Daleville, IN

About The Position

First Merchants Bank is seeking a Loan Servicing Specialist to perform a variety of back-office loan operations functions. Tasks must be completed accurately and on time because they are critical to regulatory requirements and departmental procedures. The successful candidate is flexible about assigned tasks and willing to learn multiple functions. The role responds to customer phone and email inquiries, explains established loan processes and procedures, and processes, researches, reviews, and resolves complex transactions with minimal customer impact. It also involves reviewing statements, reports, filings, and invoices; processing loan payments, payoffs, exceptions, reversals, escrows, and corrections; maintaining the core processing system; and working with Core Processing on system enhancements, corrections, test scenarios, and follow-through to the general ledger. Each specialist is also assigned to one of four areas. Escrow Specialists reconcile, audit, and analyze accounts, disburse property taxes and insurance, and liaise with vendors. Support Specialists explain escrow analysis statements, prepare or verify authorized payoff quotes, complete authorized credit references, and address erroneous credit bureau reporting. Collateral Specialists create and maintain UCC filings, monitor the team inbox, research collateral requests and releases, support lien perfection, participate in projects assigned by the Assistant Manager, and cross-train on research functions. Impaired Loans Specialists provide guidance on accounting requirements for impaired loans, entries for properties moving into OREO, charge-offs and recoveries, and established impaired-loan procedures.

Requirements

High school diploma or equivalent (GED).
Two years of financial service, customer service, or related processing experience.
Flexibility with assigned tasks and willingness to learn multiple tasks.

Nice To Haves

Prior banking experience.
Experience with Microsoft Outlook, Excel, and Word.

Responsibilities

Respond to customer phone and email inquiries professionally, thoroughly, accurately, and in a timely manner.
Provide guidance on established loan processes and procedures.
Process, research, review, and provide feedback on complex transactions through resolution while minimizing customer impact.
Review statements, reports, filings, and invoices for accuracy and process corrections as needed.
Process loan payments, payoffs, exceptions, reversals, escrows, and corrections.
Maintain the core processing system as needed.
Work with Core Processing on system enhancements, corrections, and test scenarios, and follow through to the general ledger.
For Escrow Specialists: perform periodic reconciliations, audits, and analysis; disburse property tax and insurance payments; ensure timely tax payments to counties; and liaise with vendors as needed.
For Support Specialists: explain escrow analysis statements to Call Center and Retail personnel; prepare or verify authorized consumer and commercial loan payoff quotes; complete authorized credit references; and respond to erroneous credit bureau reporting by letter or through E-Oscar or the core system.
For Collateral Specialists: create, modify, amend, and cancel UCCs with the state; monitor and assign emails received in the team inbox; research and fulfill complex collateral requests and releases for acquired loans; support lien perfection; participate in projects assigned by the Assistant Manager; and cross-train on research-related functions.
For Impaired Loans Specialists: guide others on accounting requirements for impaired loans, entries for properties moving into OREO, partial and full charge-offs and recoveries, and established impaired-loan processes and procedures.