LOAN SRV ASST

Loan Servicing Assistant

Under the supervision of the Loan Servicing Manager, the Loan Servicing Assistant performs a variety of loan servicing and related administrative and reporting functions in accordance with established bank policies and procedures. Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and the community in which it serves. Performs all duties in accordance with prescribed regulatory compliance guidelines.

Principal Responsibilities

• Sets up new commercial, residential mortgage, construction, home equity and consumer loan files.
• Reviews new loan files for completeness, accuracy and policy adherence. Follows up to ensure timely receipt of missing documentation or other information.
• Responds to customer inquiries orally and in writing, including payoffs and discharges.
• Researches and resolves servicing issues within scope of authority and expertise.
• Works with Manager to ensure timely and accurate servicing practices.
• Processes Subordination, Extension and Modification Agreements on Commercial loans. Completes Loan Maintenance requests.
• Prepares various monthly and quarterly reports, i.e., SBA, Aggregate Debt, etc.
• Reviews daily, open and closed loan reports for Commercial and Residential loans. Researches and corrects any errors found.
• Releases collateral for paid consumer and/or commercial loans and sends customer proper documentation.
• Ensures the timely payment of escrowed insurance premiums and real estate taxes. Assists with customer inquiries relating to escrow and insurance administration. Responds promptly to all written and oral requests.
• Manages files relating to insurance policies and tax payments. Tracks and verifies payments. Follows-up with borrower, insurance agents, tax collectors, attorneys and/or their representative when necessary.
• Monitors, maintains, and updates rates and indexes as required.
• Provides timely mortgage and loan pay-off letters and releases to customers and attorneys.
• Responsible for the loan file vault and legal document storage.
• Performs mortgage payments and processes checks as does a Universal Banker, processes odd payments and new account disbursements.
• Performs related and unrelated duties as may be required. Attend relevant seminars and courses to update and advance knowledge and skills.

Education/Experience Requirements

High School Diploma or equivalent required with (1) one to (3) years of relevant banking, lending or financial services experience including insurance and real estate tax knowledge.

Requires excellent knowledge of servicing, loan processing, residential loans, consumer loans, commercial loans and accounting principles. Good understanding of the lending process. Must be detail oriented and demonstrate good organizational and communication skills, both oral and written. Must have computer skills including the Internet and Microsoft Office Suite; Outlook, Word and Excel. Knowledgeable of Insight system (company loan servicing system). Thorough understanding of the bank's products and services. Regular attendance is an essential function of this position. A second language is a plus but not required.

Initiative

Tasks performed by this position are varied and require knowledge of bank servicing system, loan processing and mortgage servicing and the Bank's lending philosophy. Requires the ability to work on several unrelated tasks simultaneously. Employee performs work within established guidelines and according to specific procedures. Plans and arranges own work, referring only unusual cases to Manager. Work progress and results are reviewed.

Responsibility

Typical errors could be incorrect data entry on borrower's accounts. Errors are generally easily detected and corrected. May have minor adverse external effects. This position has access to all customer loan information through the loan documentation process and system information. Regular interdepartmental or external business contacts, furnishing or obtaining information; requires tact and courtesy.

Supervision

None

Position Conditions

Normal. While performing the duties of this job, the employee is regularly required to sit; use hand to finger, handle controls; and talk or hear. The employee is occasionally required to stand; walk; reach with hands and arms; and stoop or kneel. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision and the ability to adjust focus.