Loan Servicing Specialist

South Ottumwa Savings Bank is seeking a motivated individual to join our Bank team as a Loan Operations Specialist / Loan Servicer at our Church Street location in Ottumwa, Iowa. The role ensures accurate processing, regulatory compliance, and efficient support of all areas of the loan department, managing documentation, payments, escrow, insurance, and system maintenance while working closely with staff, vendors, and customers. Benefits include paid holidays, paid time off, health, dental, vision, life, and disability insurance options, and a generous 401(k) retirement plan with an employer match. RESPONSIBILITIES AND DUTIES Demonstrate comprehensive knowledge of Bank policies and procedures and maintain proficient understanding of state and federal regulatory compliance related to loan servicing, loan documentation, bank core system functions, and all outlined responsibilities. Cooperatively share and rotate responsibilities among all loan servicers, maintaining full knowledge of duties to ensure consistent coverage and operational flexibility. Engage in ongoing self‑development and participation in formal training. Show exceptional attention to detail, prioritize work assignments and balance workloads under time constraints. Promote and provide excellent customer service by effectively communicating and cooperating with internal and external customers. Work closely with direct supervisor to provide training to the loan department on loan servicer responsibilities. Provide coverage at the loan department reception desk. Review daily system reports to ensure all payments processed correctly and correct any payment errors, including FHLB payment reporting and creating ECRs for corrections. Review daily loan file maintenance reports to ensure accurate entry of new loans and loan file maintenance; notify appropriate employee of any needed corrections. Conduct annual escrow analysis statement process, validating accuracy and compliance, and provide support to loan officers and customers. Oversee insurance for all loans: maintain up-to‑date coverage, disburse hazard and flood insurance from escrow accounts, add/remove bank as lien holder, issue new policies, monitor renewals and cancellations. Manage property tax escrow distributions: monthly balancing, processing distributions, payments to county treasurers, updating system amounts. Handle PMI: pay monthly premiums, ensure appropriate system fields, monitor loans nearing cancellation, process cancellations. Monitor loans secured by collateral in flood zones monthly/annually and weekly flood determinations; perform flood review prior to closing. Perform duties involving bank’s interest rates: high‑priced testing, obtain updated indexes weekly, update system, prepare rate sheets and distribute to staff. Review final title opinions, guaranties, abstracts, and recorded mortgages for accuracy; notify parties of corrections. Ensure accurate and timely borrower loan data reporting to credit bureaus; investigate and resolve credit bureau disputes via e‑Oscar and monthly reports. Prepare adverse action notices for denied/withdrawn loan applications, maintain denied/withdrawn log and ensure timely mailing. Review and balance vendor billings such as Equifax, CBMS, and loan coupon books. Prepare paper loan files for scanning, upload electronic files to imaging system, and provide second review of scanned/uploaded documents. Handle credit life and disability policies: process new and closed policies, maintain records, process entries to checking or ledger accounts. Assist with daily, monthly, quarterly, or annual loan reports and reviews (e.g., EOD report, CD/Savings/Stock/Bond secured loan review, paid loan report). Perform lien perfection duties: release mortgages and title liens, process new title liens, record new mortgages, mail paid notes and letters to customers. Perform admin responsibilities for department websites and software: add/remove users, provide training and support, communicate with vendors, process updates. Research and handle outstanding checks and transactions in loan department checking account and assist operations with account reconciliation. Perform loan file maintenance requests in core system; provide backup to Loan Operations Specialist/Core System Specialist. Responsible for tickler tracking and follow‑up for abstracts and collateral titles. Process daily mail received in department, including returned mail. Process loan payments, advances, and wires accurately and timely. Answer phones, assist with CRM requests, and loan support email requests. Balance end‑of‑year interest statements and process correcting 1098 entries. Familiarity with all bank products and services; using bank products encouraged. Attend meetings held by committees or groups; represent bank in community activities. Perform other duties as assigned and proactively seek value‑added work throughout scheduled hours; direct questions to manager regarding priorities. Requirements Must be able to work a full‑time schedule of approximately 40 hours per week, Monday through Friday, including occasional overtime and some scheduled Saturday mornings. High school diploma or equivalent required; degree in finance or business‑related field is helpful. Specific job knowledge and experience required; drive and ability to develop proficiency. Requires general to intermediate loan knowledge, ability to perform mathematical calculations and analyze data. Must be organized, able to multi‑task, prioritize workload, complete tasks in a timely manner, flexible, and detail‑oriented. Proficient in use of computers and technology, including Excel and Word. Must portray an energetic and positive attitude, good verbal communication skills, dependability, initiative, motivation, good judgment, and problem‑solving skills. Must work independently and with a team and research solutions independently. While performing the duties of this job require the employee to sit, talk, hear, occasionally stand, walk and reach; specific vision abilities include close vision and ability to adjust focus. Interested individuals must complete a South Ottumwa Savings Bank Application for Employment to be considered. Must be able to pass a background screening, including credit and criminal check. Candidates may apply via Indeed or in person at 320 Church Street, Ottumwa, Iowa 52501. Applications are also available on the company’s website; applicants may return applications via View email address on click.appcast.io. EOE/Veteran/Disabled South Ottumwa Savings Bank is an equal opportunity employer. #J-18808-Ljbffr