Senior Commerical Loan Servicing Rep

MutualOne Bank • Framingham, MA • 3h ago

The Senior Commercial Loan Servicing Representative responsibilities
include performing a variety of loan servicing and processing activities
in conformance with established bank policies, procedures and
objectives. Performs any functions, within scope of authority and
expertise, to provide the highest level of service and responsiveness to
customers and co-workers. Experience & Education Requirements:
Bachelor\'s degree or equivalent lending experience Background in
financial institution\'s real estate, commercial and/or consumer lending
procedures Excellent understanding of lending procedures, Federal and
State lending regulations Proven customer service skills Essential Job
Functions: Responsible for booking and/or modifying commercial loans.
This entails the ability to read and interpret promissory notes and
modifications agreements to establish the proper schedules and data in
the system that will reflect the contract with the member. Must be able
to use sound judgment when selecting codes such as property @type,
account @type, flags, etc. as each of these is critical to the system and
reporting Perform a post-closing review of all new loans and amendments
for compliance and accuracy, while working closely with the closing
attorneys and relationship managers to ensure that all changes are
completed, and loans are closed in compliance with the approval. Review
legal documents for accuracy and completeness. Maintain, manage, and
track all pending and outstanding loan documents, resolve exceptions and
ensure that any missing or incorrect information is identified and
promptly corrected Ensure collateral recording information is secure and
maintained in the core banking system Monitor, maintain and update rate
and payment change records as required. Send adjustment notices to
customers and respond to any customer inquiries or concerns. May
manually calculate daily interest rate and per diem rate for
customer/lender/attorney. Review various reports to clear system errors
and update loans as needed Research and resolve servicing issues in
support of loan officers and customers within the scope of authority and
expertise. Perform complex transactions, and loan payments, including
but not limited to recalculating principal, interest and other payment
information for accounts and performing escrow as necessary. Monitor
real estate taxes, flood & hazard insurance, and other charges on
secured properties Instruct vendors to impose forced-placed insurance
coverage on acquired properties, ensure proper coverage, and pay
premiums. Process commercial mortgage, commercial loan, and construction
loan payoff requests from internal and external customers Prepare paid
off documentation for the customer and/or attorney, releasing collateral
liens Review various daily monitoring reports to ensure payments were
processed correctly. Adhere to timelines and deadlines established based
on client needs and department workflow. Perform other job-related
duties as assigned by Managers(s). Qualifications Required knowledge,
skills & abilities: Excellent knowledge of banking regulations and
policies and procedures Knowledge of loan processing practices, methods
and procedures Knowledge of Commercial, Real Estate and Consumer loan
files and documents Excellent interpersonal, communication & computer
skills Ability to apply critical thinking and problem-solving skills
Ability to provide courteous, knowledgeable and professional customer
service on the phone Ability to assume responsibility, display
initiative, exercise good judgment and make and act upon decisions with
minimal supervision. Ability to perform accurate data input into a
variety of software; COCC, DNA preferred, yet not required Successful
completion of in-house training programs or other approved training
programs Compliance with BSA regulations as appropriate to the position

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