Commercial Loan Servicing Specialist

SUMMARY OF POSITION:

Performs various duties relating to the processing of new, existing, and paid loans; reconciles and disburses payments to vendors; provides customers, loan officers, and other bank personnel with support and assistance relating to loan applications; and, mails various statements and notices.

KEY ACCOUNTABILITIES:

1. Performs various duties relating to the processing of new, existing, and paid loans:

– Basic review of loan documentation and understanding various loan types, i.e., lines of credit, term loans, participations, floor plans, mortgages, etc
– Enters information related to new loans and maintenance changes into loan system with appropriate documentation and approvals.
– Processes loan payments and funds transfers. Manually posts any exceptional or irregular payments including extensions, charge-offs, etc. as required.
– Review, prepare and create disbursement of insurance premiums and taxes.
– Ensure internal and external loan recording information is updated
– Ensure new loan and maintenance system entries are submitted to 2nd review for auditing purposes
– Follow job rotation guidelines to complete tasks in efficient, accurate and timely manner
– Monitor department mailboxes to process incoming and outgoing participation wires, loan maintenance, escrow payments and other requests within established time frames.
– Utilize loan servicing manual and provide updates as needed
– Achieve established 98% accuracy goal for new loans and maintenance.
– Review various reports to clear system errors and update loans as needed.

2. Loan Application Reconcilements:

– Prepare appropriate end of day reconcilement packets, including all details.
– Verify escrow balance, update account and disburse payment to tax collector, homeowner insurance companies, and private mortgage company.
– Assist with and verify internal and external loan reporting information as requested.

3. Provides customers, loan officers, and other bank personnel with support and assistance relating to loan applications:

– Resolve customer, loan officer, and other bank personnel inquiries promptly and efficiently with minimal assistance or direction from supervisor.
– Provide training to community office, commercial service, and mortgage originators as appropriate.

4. Mails various statements and notices, including monthly billing statements, late and over limit notices, maturity notices and escrow analyses.

5. Answer phone calls and emails to resolve customer, loan officer, and other bank personnel inquiries promptly and efficiently.

REQUIRED SKILLS:

Must possess strong oral communication skills (including excellent telephone etiquette); good math skills with high degree of accuracy; and, strong analytical skills. Must have the ability to deal tactfully and efficiently with the public and other employees. Must be able to organize work and determine priorities. Must demonstrate proficiency in operating office equipment including personal computer, calculator and fax machine. Proficiency or sufficient knowledge of word-processing and spreadsheet software required.

REQUIRED EDUCATION:

A high school diploma or equivalent with an emphasis in a business or accounting curriculum preferred.

REQUIRED EXPERIENCE:

Entry-level position: previous Loan Operations experience is preferred but not required. However, previous experience with personal computers and office equipment is required.

COMPARABLE JOB TITLES:

Here at F&M we call this position a Loan Servicing Specialist, but to help the title resonate with you, other employers may title the position a Personal Loan Specialist, Loan Servicing Specialist, Commercial Loan Servicing Specialist, Consumer Loan Associate, Loan Servicing Representative.

F&M Trust is an Equal Opportunity Employer – M/F/Disability/Vet/SO