Loan Servicing Specialist
About The Position
The Loan Servicing Specialist is responsible for the accurate booking, funding, and ongoing servicing of assigned loan accounts. This position supports servicing activities across commercial, small business, SBA, participation, SWAP, personal loans, HELOCs, and mortgage products as assigned, ensuring work is completed in accordance with regulatory requirements, internal policies, procedures, and applicable investor or program guidelines. This role works collaboratively with Loan Operations team members, internal partners, and external customers to support timely, accurate, and well-controlled loan servicing throughout the life of the loan.
Requirements
- Excellent verbal and written communication skills.
- Excellent interpersonal and conflict resolution skills.
- Excellent organizational skills and attention to detail.
- Strong analytical and problem-solving skills.
- Ability to work independently and collaboratively within a team environment.
- Ability to follow established procedures and escalate issues appropriately.
- Proficient with Microsoft Office Suite or related software.
- An associate degree is desired or equivalent work experience in financial institution.
- Minimum of 1-3 years of loan servicing, loan operations, banking, or related financial institution experience preferred.
- Knowledge of core banking and mortgage servicing systems.
- Strong computer skills, including proficiency with Microsoft Office products and Adobe PDF.
- Compliance with all BSA compliance laws and regulations including the Bank’s BSA policy and procedures.
Responsibilities
- Providing high-quality service to internal partners and external customers regarding loan servicing inquiries and account maintenance requests.
- Accurately booking, reviewing, and funding assigned commercial and personal loans, including conventional, SBA, construction, small business, personal loans, HELOCs, renewals, extensions, and modifications in accordance with approved loan documents and bank policy.
- Identifying loan documentation incompleteness or discrepancies and escalating issues to management or senior team members prior to funding, as appropriate.
- Performing assigned ongoing servicing activities, including payment processing, rate changes, escrow administration, construction draw support, and payoff processing.
- Properly requesting, tracking and maintaining all collateral documentation including insurance, UCCs, Titles, Final Policies and Recorded Mortgages.
- Assisting with coordination involving participant banks and investors to support accurate payment processing, reporting, and delivery of required servicing documentation.
- Assisting with the servicing of participation loans, SWAP loans, and SBA loans as assigned and according to specified guidelines.
- Accurate and timely processing of all construction draw requests ensuring approval requirements and required documentation has been met.
- Tracking paid-off loans and supporting timely and accurate lien releases and document retention.
- Monitoring delinquent property taxes using the third-party vendor.
- Being cross trained in servicing functions to help support the loan servicing team and assist with team coverage as needed.
- Acting within the culture and core values of Oxford Bank in every situation.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
Associate degree
