Loan Servicing Specialist

Midland States Bank•O'Fallon, MO

About The Position

The Loan Servicing Specialist II is an experienced member of the Loan Servicing team within Loan Operations. The role independently performs routine to moderately complex servicing functions across Loan Servicing, Loan Booking, Loan Collateral, and Loan Escrow. It applies established knowledge of consumer, mortgage, and commercial loan products to research and resolve servicing issues, process transactions and exceptions, and maintain accurate loan and collateral information. The specialist exercises independence in resolving servicing matters, provides task-specific guidance to less experienced team members, and escalates complex or higher-risk matters as appropriate. Functional responsibilities include loan maintenance and payment processing, account research and reconciliation, loan onboarding and modifications, collateral and release processing, insurance and flood administration, escrow servicing, delinquent tax monitoring, and customer and business-partner support. The position requires occasional travel for training, team meetings, and due diligence events. Work in a Midland office may be required to support collaboration and internal and external customers. The role offers a base pay range of $20.50–$24.00 per hour. Additional compensation may include short-term incentives such as a bonus or commission and may include long-term incentives such as stock awards. Benefits include comprehensive healthcare, well-being benefits, paid family leave, paid time off, banking perks, an Employee Stock Purchase Plan, a 401(k) plan with company match, and potentially participation in a Non-Qualified Deferred Compensation plan, subject to eligibility requirements.

Requirements

High school diploma.
At least 1 year of relevant banking experience.
Ability to learn and use new software and programs.
Proficiency in Microsoft Office Suite.
Ability to take ownership of assigned responsibilities, manage priorities, and follow issues through resolution.
Strong oral, written, and interpersonal communication skills.
Strong organization and time management skills.
Strong attention to detail.
Ability to work independently and as part of a team.

Nice To Haves

Experience with loan analysis, account reconciliation, finance, or accounting concepts.
Knowledge of commercial, consumer, mortgage, and equipment finance loans and/or third-party loan servicing practices.

Responsibilities

Receive, validate, and complete basic to moderately complex loan maintenance requests.
Process loan payments and payoffs; investigate and resolve payment issues, discrepancies, and unposted transactions.
Reconcile outstanding loan account items and clear reconciling differences.
Research commercial, consumer, and mortgage loans and respond to basic to moderately complex inquiries.
Answer inbound loan servicing calls, resolve questions when possible, and escalate inquiries as appropriate; make outbound courtesy calls as needed.
Compile, review, and manage distribution of funds for insurance loss claims and assist with general escrow analysis inquiries.
Establish collateral ticklers according to lending agreements and documentation; review, track, and update collateral through reports, escalate exceptions, and work aged collateral exceptions.
Handle basic paid-out transactions and related collateral releases while complying with regulatory, legal, and MERS system requirements.
Perform escrow distributions, refunds, and related support activities; disburse escrow payments and process refunds for insurance, taxes, and PMI.
Track and update hazard insurance collateral, send reminder letters when necessary, and force-place hazard coverage according to guidelines and timeframes.
Handle flood tracking, coverage review, and escrow disbursements in accordance with regulatory guidelines.
Track delinquent real estate taxes and take necessary actions to protect the bank’s interests.
Facilitate loan payment and remittance activity between third-party servicers and master servicers, ensuring timely and accurate payment application.
Reconcile loan balances, payment activity, and asset status between internal servicing systems and third-party servicer records; research and resolve discrepancies.
Collaborate with internal and external partners to manage delinquent assets and complete servicing, collection, and reconciliation activities accurately and on time.
Process and sort corporate mail and disburse department mail.
Scan, file, and re-file documents in the bank’s imaging system as related to servicing work.
Provide task-specific training and support to less experienced team members and assist with onboarding new team members.
Provide customer service to customers and business partners, take ownership of inquiries, and follow issues through resolution.
Independently manage assigned servicing responsibilities and escalate questionable transactions, recurring issues, and other matters to management in a timely manner.
Comply with applicable regulatory and legal requirements, including Bank Secrecy Act (BSA) requirements, and follow security, privacy, and compliance requirements.
Perform other duties as assigned.