Loan Servicing Specialist

Merchants National Bank • Hillsboro, OH

7h

About The Position

The Loan Servicing Specialist plays a critical role in managing and maintaining the lifecycle of various loan products, including commercial loans, home mortgages, and home equity loans. This position ensures accurate processing, documentation, and compliance with regulatory requirements such as the Bank Secrecy Act. The specialist acts as a key liaison between borrowers, lenders, and internal departments to resolve inquiries and facilitate smooth loan servicing operations. By maintaining detailed records and monitoring loan performance, the role supports the financial institution’s risk management and customer service objectives. Ultimately, the Loan Servicing Specialist contributes to the institution’s reputation for reliability and compliance while enhancing borrower satisfaction through efficient loan management.

Requirements

• High school diploma or equivalent; Associate’s or Bachelor’s degree in finance, business, or related field preferred.
• Minimum of 2 years experience in loan servicing, loan processing, or a related financial services role.
• Strong understanding of commercial loans, home mortgage loans, and home equity loan products.
• Familiarity with loan documentation processes and regulatory compliance requirements including the Bank Secrecy Act.
• Proficiency in loan servicing software and Microsoft Office applications.
• Expertise in commercial loans, home mortgages, and loan documentation.
• Knowledge of the Bank Secrecy Act.
• Proficiency in loan processing and servicing software.
• Advanced analytical abilities.
• Communication skills.

Nice To Haves

• Experience working in a banking or financial institution environment.
• Knowledge of advanced loan servicing systems and automated workflow tools.

Responsibilities

• Process and manage loan documentation for commercial loans, home mortgages, and home equity loans ensuring accuracy and completeness.
• Monitor loan accounts for payment status, escrow analysis, and compliance with loan terms and regulatory requirements.
• Respond promptly to borrower inquiries and resolve issues related to loan servicing, payments, and account status.
• Coordinate with internal teams such as underwriting, compliance, and collections to ensure seamless loan servicing operations.
• Maintain up-to-date knowledge of regulatory guidelines including the Bank Secrecy Act and implement necessary procedures to ensure compliance.
• Prepare and review reports related to loan servicing activities and escalate discrepancies or risks to management.
• Assist in audits and quality control reviews to ensure adherence to internal policies and external regulations.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED