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Loan Servicing Specialist
Summary
| Title: | Loan Servicing Specialist |
|---|---|
| ID: | 1126 |
| Department: | Loan Support |
Description
Loan Servicing Specialist
Department: Loan Operations Department
Reports: Loan Operations Manager
Position Summary
The Loan Servicing Specialist is responsible for handling day-to-day loan booking and servicing tasks and assisting the Loan Operations Manager with assigned projects and manage non-direct report staff as requested. Key responsibilities include booking loans into Carver’s core loan platform and servicing those loans. The position is expected to provide Carver’s loan servicing partner, borrowers and loan participants with high-quality service. Similarly, the role will respond to requests from other Carver departments regarding servicing issues and is expected to approach this responsibility with a customer service-oriented mindset. Key internal partners include the Lending, Portfolio Management, Audit, Retail, and Compliance departments.
Essential Duties and Responsibilities
Loan Booking (35%)
Department: Loan Operations Department
Reports: Loan Operations Manager
Position Summary
The Loan Servicing Specialist is responsible for handling day-to-day loan booking and servicing tasks and assisting the Loan Operations Manager with assigned projects and manage non-direct report staff as requested. Key responsibilities include booking loans into Carver’s core loan platform and servicing those loans. The position is expected to provide Carver’s loan servicing partner, borrowers and loan participants with high-quality service. Similarly, the role will respond to requests from other Carver departments regarding servicing issues and is expected to approach this responsibility with a customer service-oriented mindset. Key internal partners include the Lending, Portfolio Management, Audit, Retail, and Compliance departments.
Essential Duties and Responsibilities
Loan Booking (35%)
- Initiate wire transfers for all loan closings
- Perform quality review of all booked loans to ensure they are properly set-up (i.e., billing codes, interest rates, etc.)
- Ensure all loan exceptions identified during the quality review process are addressed in a timely manner, and tracked/logged into loan exception tracking system
- File UCC financing statements
- Prepare and deliver monthly statements to CCDC’s New Market Tax Credit borrowers
- Perform and review results of UCC lien, tax and bankruptcy searches and identifies and resolves issues related thereto
- Identify and collect all required diligence materials
- Conduct initial review of loan documentation prepared by counsel for conformity with Bank policies and credit approval
Loan Servicing (50%)
- Manage the ongoing servicing of loans
- Resolve servicing issues and handle customer inquiries
- Process incoming transactions and requests within the allotted time frame
- Work directly with Finance/Accounting on specific loan general ledger account issues (MPC and LAS) to ensure loan entries are cleared in a timely manner
- Perform monetary transactions required for commercial and consumer loans
- Prepare and file UCC terminations in a timely manner
- Process payoff letters and prepare mortgage satisfactions and mortgage assignments in a timely manner
- Provide exceptional service to internal and external customers in all areas of loan servicing, including processing of commercial and consumer loan payments, advances, participation loan servicing, payoff requests and other general loan inquiries
- Posting to and balancing multiple participation loans with multiple financial institutions in an accurate and timely manner using the core system
- Provide payoff letters and verify prepayment penalties
- Process paid loans, including reviewing the daily closed loan report and releasing collateral according to Carver procedures
- Respond to department email and answer internal and external calls in a timely manner
- Assist with renewal and loan extension maintenance on the core system
- Assist in gathering data and preparing daily/monthly loan reports
Compliance and Other Duties (15%)
- Periodically review coding of booked loans for completeness and accuracy
- Support the Lending, Compliance, Credit, Portfolio Management, and Loan Workout departments as requested
- Contribute to loan servicing and assist the Loan Origination Specialist as needed
Qualifications/Requirements
- Minimum Associates Degree or equivalent related business experience.
- Minimum 5 years experience in loan administration, loan servicing, loan documentation and/or credit required
- Intermediate knowledge of loan servicing activities and terminology
- Strong communications skills and the ability to communicate effectively verbally and in writing
- Knowledge of Fiserv, EasyLender and Sageworks loan system
- Excellent organizational, time management, and analytical skills
- Strong attention to detail
- Able to read and understand credit approval terms and conditions
- Knowledge of commercial real estate, construction, business, SBA, residential and consumer mortgage loan processing and loan documentation
- Knowledge of lien perfection and collateral release processes
- Knowledge of State, Federal and general banking compliance requirements and regulations
- Excellent Microsoft Excel & Word skills
- Familiarity with all phases of loan processing
This opening is closed and is no longer accepting applications
