Senior Commercial Loan Servicing Representative

Job Description

Job Description

Being a part of the Award-Winning Country Bank team has a lot of perks! Our competitive total compensation package and comprehensive benefit package include:

• Medical, dental and vision insurance, a 401(k) Plan with a generous employer contribution plus match;
• Income protection benefits;
• Educational assistance and tuition reimbursement benefits;
• Hybrid work and flexible scheduling options;
• Generous total paid time off, and more!

For more information on the Country Bank employee experience, visit our Join Our Team page to learn more!

About the Job:

We're excited to announce an opportunity for the position of Senior Commercial Loan Servicing Specialist! Under the guidance of the Assistant Vice President, Commercial Loan Administration Officer, this position performs a variety of loan servicing functions to ensure proper loan processing and maintenance of the Commercial Loan Portfolio. This includes the end-to-end processing cycle for all commercial Loans. 

The hiring range for this position is $60,000 to $70,000.  Starting pay determined based on candidate’s qualifications and experience.

This position is Full Time, 40 hours weekly. 

Essential Duties and Responsibilities (Other Duties May be Assigned):

• Reviews the Masterfile report for each loan to verify loan was booked according to loan documents, i.e. Credit Approval Memo, Commitment Letter, Promissory Note. 
• Performs quality control check on new loan files as well as modifications and partial releases to ensure all critical functions and documents have been completed by all supporting staff. Maintains a database and works directly with Loan Officers, Loan Coordinators and Attorneys for timely receipt of missing and incorrect documents.
• Prepares payoff figures in accordance with MGL Ch 163 as requested by consumers, attorneys and other bank personnel. Processes payoffs closes accounts and sends documentation to borrower. Prepares discharges for Attorneys and records with the registries as required.
• Prepares partial release consideration letters as requested by consumers, attorneys and other bank personnel. Insures the accuracy of the partial release document and collateral being requested for release. Process the partial release payment and sends the executed document to the Attorneys for recording with the registries as required.
• Processes monetary transactions including funds transfers on Commercial Lines of Credit with Lender approval, outgoing wire transfers, construction loan advances and check processing.
• Process any and all loans payments to include the calculating and processing of incoming and outgoing participation loan payments. Assist customers with loan payment discrepancies or issues.
• Maintains direct communication with Allied Solutions for the input and tracking of hazard, flood and equipment insurance policies. Ensures that all policies are accurate and in place. Interacts directly with insurance companies and agencies. 
• Backup to the Sr. Escrow Specialist to coordinate and ensure timely payment of real estate tax bills on commercial loans. Monitors and performs follow-up on delinquent real estate taxes securing escrowed and non-escrowed loans, and capitalizes unpaid taxes as needed. 
• Knowledge of the LERETA tax service system, including direct contact with the tax/assessor’s office of the cities and towns to which we submit escrow payments.
• Processes general ledger reconciliations regarding the Commercial Work in Process, Loans in Process and Loans in Process Real Estate daily. Works with Coordinators to verify any discrepancies or issues.
• Reviews and tracks weekly loan reports via OnBase to ensure proper loan processing, i.e. Tickler and Special Instructions, 90 Day report, Loan Trial Balance, Loan Maturity Forecast report.
• Provides guidance, support and occasionally training for less experienced loan servicing staff members.
• Notarizes legal documents for loan officers and the public as needed, if applicable.
• Responsible for building long-lasting relationships with customers, community and colleagues through the embodiment of our Core Values: Integrity, Service, Teamwork, Excellence and Prosperity.
• Other job duties, as assigned.

Knowledge and Skills

It is preferred that the employee in this position can work independently, interpreting ideas and facts, while also analyzing and interpreting federal and state laws and/or regulations. This employee should have strong customer service and sales skills, as well as strong written communication skills and the ability to make effective presentations in a group setting. Employees with exceptional verbal and numerical aptitudes are preferred. Must also demonstrate the ability to work in a fast-paced and highly dynamic office environment.

This position requires basic knowledge of the Microsoft Office Suite, including Excel, Outlook, PowerPoint, and Word along with an understanding of commercial legal documents. Knowledge of the Finastra core platform, OnBase, Global Wave, LaserPro, and Simplifile are preferred. 

Education and Work Experience

A High School diploma or equivalent is required, along with a minimum three years of commercial loan servicing experience. Being a licensed Notary Public is preferred.

Working Conditions/Physical Requirements

This position is in an office environment, which means the physical surroundings are generally pleasant and comfortable with minimal exposure to injury or other hazards, with a moderate level of noise. Prolonged periods of sitting and looking at a computer screen with freedom of movement on a regular basis is expected. Minimal physical effort is required but could include: repetitive motion of wrists and fingers; talking and hearing; and handling of light materials and supplies. 

Country Bank is an Equal Opportunity Employer. Diverse applicants encouraged to apply.