Business Loan Servicing Specialist

The loan servicing specialist is responsible for providing primary support to internal and external customers over the telephone and email along with analyzing, researching and processing semi-complex transactions to include loan payoffs, daily report review, collateral tracking, participation loan payments.

Compensation:

Minimum $ 21.08

Maximum $ 30.11

 Placement in the pay scale will be determined by experience and qualifications.

• Provide support to internal and external customers over the telephone and email utilizing professional phone etiquette and business communication skills; handle escalated servicing calls and inquiries to successful resolution.

• Process loan payments, incoming wires, escrow disbursements, and advances for all loan types.

• Analyze general payment discrepancies; facilitate general problem solving for internal and external customers, and ensure accuracy of the corrections in a timely manner.

• Ensure appropriate collateral documentation is received, filed, and maintained, by monitoring tickler reports; follow-up on pending documentation, which may require calling title companies, researching UCC’s filings and collecting insurance.

• Calculating payoff statements upon request, determine release fees, prepayment fees and other outstanding fees to be included in payoff statement.

• Post payoff transactions accurately to the loan system and process all paid off/closed loan files per department procedures.

• Process the release or all types of collateral and supporting services.

• Review and analyze daily reports and clear exceptions.

• Perform file maintenance activities, i.e. automatic payments, tax registration and UCC filings.

• Assist in processing participation and government guaranteed loan transactions. Ensure accurate balancing, reporting and remittance.

• Setup/maintain business physical and electronic loan files as needed.

·         Knowledge of loan documents (Promissory Note, Loan Agreement, Guaranty, etc.).

·         Strong working knowledge of a variety of collateral security methods and documentation including knowledge of UCC's, title, escrow, taxes, insurance and real estate documentation relating to commercial real estate.

·         Works on assignments that are moderately complex in nature where judgment is required in resolving problems and making routine recommendations.

·         Ability to maintain high attention to detail with strong organizational and time management skills.

·         Ability/willingness to work independently and collectively in a team environment.

·         Proven motivated/self-starter who is flexible and able to adapt quickly to a change in priorities/tasks and a willingness to accept additional responsibilities as opportunities arise.

·         Requires basic arithmetic skills, knowledge of operational procedures, practices and policies.

·         Thorough knowledge of credit union, state and federal policies, procedures and laws regarding lending.

·         Federal and state consumer and commercial lending regulations.

·         Fixed, adjustable-rate, consumer, real estate and business loans.

Please note that a job description does not in any way identify ALL functions and/or responsibilities of the role. The position will support and/or provide service or value where needed.

Education/Experience/Certification:

·         Two or more years in a financial institution with ideally at least one year experience processing or servicing business/ commercial loans, including participations and SBA loans.

·         Experience with LaserPro software, preferred.

Physical Considerations:

·         Must be able to effectively read, write, and listen as well as communicate verbally, electronically and in written form with employees, members, board members, vendors, and the general public as required.

·         May be asked to handle, move, and/or carry large boxes of supplies weighing up to 50 pounds.

·         May require stooping, bending, squatting, and reaching for limited periods of time.

·         May require sitting and standing for long periods of time.