Loan Servicing Specialist
About The Position
The Loan Servicing Specialist II is an experienced member of the Loan Servicing team within Loan Operations. The position 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 II exercises greater independence in resolving servicing matters, provides task-specific guidance and support 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 role requires occasional travel for training, team meetings, and due diligence events, and may require work in a Midland office to support collaboration and internal and external customers.
Requirements
- High school diploma and at least 1 year of relevant banking experience.
- Demonstrated 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 organizational 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 and discrepancies.
- Reconcile outstanding loan account items, clear reconciling differences, and process and resolve un-posted transactions.
- Respond to inquiries regarding commercial, consumer, and mortgage loans through loan research.
- Compile, review, and manage the distribution of funds for insurance loss claims.
- Assist with general escrow analysis inquiries.
- Answer inbound loan servicing calls, resolve questions, or escalate them to the appropriate representative or team; make outbound courtesy calls as needed.
- Establish collateral ticklers according to lending agreements and documentation; review, track, and update collateral, proactively work aged exceptions, and escalate exceptions as appropriate.
- Handle basic paid-out transactions and related collateral releases in compliance with regulatory, legal, and MERS system rules.
- Perform escrow distributions, refunds, and related support activities, including disbursing escrow payments and processing refunds for insurance, taxes, and PMI.
- Track hazard insurance collateral, send reminder letters when necessary, and force-place 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 required actions to protect the bank’s interest.
- 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 for loan servicing tasks.
- Provide task-specific training and support to less experienced team members and assist with onboarding new team members.
- Provide exceptional customer service, take ownership of inquiries, and follow issues through resolution; maintain excellent telephone etiquette.
- Independently manage assigned servicing responsibilities and promptly escalate questionable transactions and recurring issues to management.
- Comply with applicable regulatory and legal requirements, security, privacy, and compliance requirements, including the Bank Secrecy Act (BSA).
- Perform other duties as assigned.
Benefits
- Comprehensive healthcare
- Well-being benefits
- Paid family leave
- Generous paid time off
- Banking perks
- Employee Stock Purchase Plan
- 401K plan with company match
- May include the opportunity to participate in a Non-Qualified Deferred Compensation plan
- Short-term incentives, such as bonus and/or commission
- May include long-term incentives, such as stock awards
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
