Retail Loan Servicing Assistant

Middlesex Savings Bank • Westborough, MA

471d

About The Position

The Retail Loan Servicing Assistant at Middlesex Savings Bank plays a crucial role in the loan servicing and processing activities, ensuring compliance with established bank policies and procedures. This position is designed to provide the highest level of service and responsiveness to both customers and co-workers. The assistant will be responsible for setting up new loans across various retail loan types, including construction mortgages, residential mortgages, home equity loans, collateral loans, auto loans, personal loans, and overdraft lines of credit. This role requires a keen attention to detail, as the assistant will perform initial reviews of legal documents and setup forms to ensure accuracy and completeness. In addition to setting up loans, the Retail Loan Servicing Assistant will research and resolve servicing issues, working closely with loan officers and customers. The assistant will also assist in processing re-amortization schedules and modification agreements, ensuring that all documentation is accurate and complete. This includes calculating new principal and interest payments and preparing disclosure statements for customer signatures. The role involves monitoring and maintaining rate and payment change records, particularly for Home Equity Lines of Credit (HELOCs) as they enter their repayment phase. The assistant will also handle customer inquiries, process loan payments, and prepare discharge documents. They will review co-worker's loan setups for accuracy and completeness, identify regulatory issues, and track hazard insurance renewals. The position requires a collaborative approach, as the assistant will support and back up other team members and refer sales opportunities to other departments. Overall, this role is integral to the smooth operation of the loan servicing team and requires adherence to regulatory compliance guidelines and bank policies.