Loan Servicing Specialist
ITACCEL
Title: Loan Servicing Specialist II
Type: 3-Month Contract
Location: Wayne, New Jersey
Schedule: Onsite The Loan Servicing Specialist II is responsible for performing a variety of servicing functions for the organization's loan portfolio. This position supports the accurate and timely processing, maintenance, and administration of commercial, consumer, and/or real estate loans while ensuring compliance with organizational policies, procedures, and applicable regulatory requirements. Primary Responsibilities:
Type: 3-Month Contract
Location: Wayne, New Jersey
Schedule: Onsite The Loan Servicing Specialist II is responsible for performing a variety of servicing functions for the organization's loan portfolio. This position supports the accurate and timely processing, maintenance, and administration of commercial, consumer, and/or real estate loans while ensuring compliance with organizational policies, procedures, and applicable regulatory requirements. Primary Responsibilities:
- Process loan payments, advances, payoffs, principal reductions, and other loan transactions.
- Maintain loan records and update account information within the organization's core loan servicing system.
- Review loan documentation to ensure accuracy and completeness.
- Process loan modifications, renewals, extensions, rate changes, and other maintenance requests.
- Research and resolve discrepancies related to loan balances, payments, interest calculations, fees, and account histories.
- Maintain and monitor escrow accounts, including real estate taxes and insurance.
- Review and track insurance, collateral, and other required loan documentation.
- Respond to inquiries from borrowers, lenders, relationship managers, attorneys, title companies, and internal departments.
- Perform quality-control reviews of loan servicing transactions and documentation.
- Prepare payoff statements and loan histories as requested.
- Assist with audits, examinations, reporting, and departmental projects.
- Ensure compliance with applicable banking regulations, internal policies, and procedures.
- Maintain accurate documentation and records.
- Perform other duties as assigned.
- Knowledge of banking operations and loan servicing procedures.
- Understanding of commercial, consumer, and/or real estate lending.
- Knowledge of loan documentation, payments, escrow, insurance, taxes, and collateral.
- Strong analytical and problem-solving skills.
- Strong attention to detail.
- Excellent organizational and time-management skills.
- Effective written and verbal communication skills.
- Proficiency in Microsoft Word and Excel.
- Experience with core banking and loan servicing systems preferred.
- High School diploma or equivalent required.
- Associate's or Bachelor's degree in Business, Finance, Accounting, or related field preferred.
- 3-5 years of banking, loan servicing, lending operations, or related financial-services experience preferred.
Vacancy posted 2 days ago
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