Senior Loan Servicing Associate - Loan Modification

Job Description

Job Description

Northeast Bank is a full-service community bank and a national commercial real estate lender with offices in Maine, Massachusetts, New York, and Connecticut and California. We are looking for motivated and talented individuals who want to make an impact in a growing company that cares about its employees, customers, and the communities it serves. Northeast Bank provides competitive compensation and benefits, generous PTO, and a hybrid work environment dependent on the role. If you are looking for a growing organization that prioritizes its employees, we encourage you to apply.

POSITION SUMMARY: The Senior Loan Servicing Associate – Loan Modifications is responsible for processing and maintaining complex commercial loan servicing transactions in accordance with bank policy, regulatory requirements, and servicing procedures. This role supports operational servicing functions including loan modifications, file maintenance, tickler management, and research/resolution of servicing discrepancies. The position requires strong attention to detail, timely processing, effective communication, and the ability to manage multiple servicing responsibilities within established deadlines and controls.

RESPONSIBILITIES:

• Process requests for loan modifications, renewals, extensions, payment changes, and related servicing requests submitted to Loan Servicing, ensuring alignment with legal paperwork, and making necessary adjustments in loan servicing software systems.
• Perform file maintenance and system updates ensuring accuracy and compliance with approved documentation.
• Review servicing documentation for completeness and compliance prior to processing.
• Monitor and manage loan servicing ticklers, exceptions, and follow-up items within required timeframes.
• Process protective advances, holdbacks, and related servicing transactions as assigned.
• Research and resolve complex servicing discrepancies, payment issues, and account inquiries.
• Assist with audit, compliance, and operational review requests related to assigned servicing functions.
• Coordinate with internal departments to resolve servicing issues and ensure timely transaction completion.
• Generate amortization schedules for borrowers upon request.
• Serve as backup for ACH payment setup and ACH review activities, including monitoring assigned queues, processing transactions within required timeframes, and communicating/escalating outstanding items as necessary to ensure operational continuity.
• Provide backup support for other assigned operational servicing functions as needed.
• Maintain knowledge of servicing procedures, regulatory requirements, and system processes applicable to assigned responsibilities.
• Perform other duties as assigned within the scope of the loan servicing function.
• Works and resolves Synapsis/Loan Servicing email box events timely.
• Successfully pass technical and regulatory examinations required by the Company.

KNOWLEDGE, SKILLS AND ABILITIES:

• Ability to maintain confidentiality.
• Excellent organizational skills and the ability to effectively communicate with all levels of employees.
• Ability to calculate figures and amounts such as interest, percentages, ratios, and proportions.
• Ability to manage multiple priorities in a deadline driven environment.
• Strong knowledge of commercial loan servicing operations and documentation.
• Strong attention to detail and accuracy.
• Ability to research and resolve complex servicing issues.
• Effective written and verbal communication skills.
• Proficiency with loan servicing systems and Microsoft office applications.
• High School diploma.
• 7 years of loan servicing experience preferred.

PHYSICAL DEMANDS AND CONDITIONS:

• Must be able to remain in a stationary position for long periods of time.
• Some travel is required.
• Must be able to occasionally lift up to 25lbs.
• Consistently operates a computer and other office machinery such as calculator, copy machine and printers.
• Climate controlled general office settings with moderate noise level.
• Must express or exchange ideas and meaning with co-workers, supervisors, customers and vendors.

Northeast Bank is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity and expression, national original, veteran status and any other classification protected by Law. We celebrate diversity and are committed to creating an inclusive environment for all employees.