Commercial Loan Servicing Specialist
Peabody, Full-time
Summary
Provides support for all Commercial loan servicing. Required to make loan level and account-based decisions to meet customer need and ensure compliance to all Federal, State and Local regulations. Responsible for quality control and system review of all commercial loans, ensuring accuracy that all loans are processed and documented in accordance with established policies and procedures.
- Generates and reviews commercial loan servicing related department reports, utilizing both expertise and discretion to collect, analyze and report on commercial loan data as appropriate.
- Conducts ongoing review and analysis of commercial loan portfolio data to identify opportunities for improvements in data accuracy and consistency.
- Recommends policy, procedural and automation enhancements to promote productivity and control.
- Receives and organizes loan file documents from commercial production and closing attorney.
- Reviews post-closing documents and all compliance related tasks. Requests and tracks missing or inaccurate documents.
- Verifies commercial loans and lines of credit in the core system (including C&I, CRE, Construction, SBA, SWAP etc.); interprets loan documentation and approval memorandums in order to accurately verify the new loan set-up, renewals, modifications, SWAPs, and letters of credit to the servicing system while ensuring data integrity.
- Accurately and efficiently processes variety of loan transactions, including loan payments, loan payoffs, new loan disbursements, construction disbursements, line of credit advances, line of credit paydowns, interest advances, charge offs.
- Responds to all telephone, letter and email inquiries from internal/external customers and various other departments, ensuring courteous, accurate and thorough follow-up.
- Manages and prepares commercial pay-off quotes, discharges of commercial mortgages, partial releases and other related collateral releases.
- Performs account reconciliations as needed. Uses discretion to evaluate and audit accounts and processes involving monetary transactions, utilizing both judgement and expertise to address anomalies.
- Reviews and submits monthly SBA reporting.
- Administers and monitors the continuations and terminations of UCCs.
- Performs clerical operational tasks for various Commercial Loan Servicing processes.
- Maintains and updates the annual record retention of any and all commercial paid loan documentation.
- Reviews and remits all SWAP and Participation reports/funds to appropriate participant banks to ensure compliance with all agreed upon terms as they relate to loan servicing, report timing, etc.
- Monitors upcoming conversions (interest only to principal and interest) and make necessary system changes.
- Administers the loan modification and extension process and make necessary system changes.
- Interfaces with other departments as needed; as well as third party vendors/service providers.
- Assists with the preparation of commercial loan files for upcoming audits, exams and other third-party reviews.
- Attend seminars, webinars and in-house training as needed to keep up with regulations and changes.
- Assists management with special projects, as needed.
Position Specific Requirements
-
- High School Diploma required; Associate’s degree level of education or equivalent preferred.
- Minimum five years’ loan servicing experience required. Commercial lending knowledge preferred.
- Ability to fluently read, write, speak, and understand the English language required.
- Attention to detail, organizational and communication skills required.
- Ability to adapt to changes in the work environment, manage competing demands and deal with frequent change, stress and/or unexpected events.
- Proficient use of computers and technology required (i.e. Internet, PCs, MS Office, etc.). Experience with a loan/mortgage operations system preferred.
About Working at Eagle Bank
We are a thriving, independent community bank, fully immersed in the evolution of a brand culture that is rooted in the heart of our organization. Together, we stand united in the knowledge that we are people who want to make a difference and be part of something bigger than ourselves. We do this through demonstrated:
- Passion and Drive
- Highly motivated professionals driven to succeed
- Shared Vision and Thinking
- Unwavering commitment to collaboration
- Focus and Performance
We expect the highest performance level from ourselves and our coworkers, and we hold each other accountable in our pursuit of this expectation.
We encourage and support continued learning to help us grow as individuals, personally and professionally. We foster and create opportunities for our continued success, recognizing and rewarding all those who make it possible.
We’re looking for qualified candidates who are authentic, optimistic, respectful, and inspire belief to stand united with us as a valued member of the Eagle Bank team.