Analyst - Loan Servicing

Job Description

Job Description

The Analyst - Loan Servicing is responsible for supporting agriculture loan transactions to ensure alignment with legal documents and policy. This role provides frontline service and manages relationships with attorneys, investors, field servicers, borrowers, and other agriculture loan professionals. The Analyst - Loan Servicing understands the dynamic relationships in agriculture lending among borrowers, field servicers, investors, tenants, and other related parties.

With Whom You Will Work
The position will report directly to the Manager - Closing and Servicing. The position will liaison with other members of the Operations team as well as Client Services, Farm and Ranch Credit, Business Development, and Legal departments.

Where and When You Will Work
The position will be based in the Farmer Mac Johnston, Iowa, location. Core business hours are Monday through Friday 8:00 am to 5:00 p.m. Central. This position may need to be available on occasion outside of the core business hours and/or business days for planned and unplanned activities to complete time sensitive projects or to attend off-site meetings and events.

Primary Responsibilities and Duties

• Evaluate and prepare loan recommendations to Credit Servicing on non-routine matters, including
  • Change in terms and/or maturity date
  • Collateral substitution
  • Consent
  • Death of a borrower, transfer of ownership interest
  • Loan assumption
  • Partial releases, substitution of property, condemnation, easements
  • Product conversion
  • Release of funds held in escrow for tenant improvements or holdback
  • Subordination agreement
• Perform calculations for
  • Debt Service Payments
  • Revolver draws/paydowns
  • Early Payoffs
  • Default
  • Maturity
• Answer calls and email from borrowers or field servicers promptly 
• Is responsible for annual certification and taxes, insurance, and UCC with field servicers
• Work closely with Legal and make recommendations on borrower situations (e.g., change in guarantor) to ensure alignment with all loan documents and policy expectations 
• Oversee collection of payments, future loan maturities, and delinquent loans 
• Complete changes due to service actions on loans in the servicing software to ensure maximum utilization is achieved for billing and reporting
• Maintain loan files with documentation of items that occur after loan closing
• Review boarding of new loans and prepare investor-related reports
• Assist with testing of new versions of servicing software
• Assist with internal and external audits and reviews
• Assist with training and staff development, monitoring workloads and job priorities for the servicing area. Participate in the formulation of policy and procedures
• Provide back-up to colleagues in Loan Closing and Servicing team
• Perform other duties as assigned

Desired Skills and Qualifications  

• Experience in customer service
  
• Ability to perform loan-related calculations
• Outstanding knowledge of Microsoft Office Suite
• Excellent communication and interpersonal skills
• Organized with the ability to prioritize and multi-task
• Reliable and professional
• Ability to work in a fast-paced environment while providing strong attention to detail
• Knowledge of the following documents 
  • Legal
  • Closing
  • Appraisals 
  • Environmental 
• Knowledge of loan modification process is preferred

Education/Experience

Bachelor’s degree with paralegal certification (preferred) plus 3 years commercial or agriculture mortgage servicing experience; or equivalent combination of education and experience. Experience with taxes, insurance, and UCC verification is preferred. 

Our compensation philosophy is targeted pay positioning relative to peers, our industry, and external markets. Farmer Mac is committed to a compensation program that will enable the organization to attract, motivate, reward, and retain highly skilled and creative talent to maintain sustained long-term performance and achieve the organization’s strategic business objectives. The typical base pay range for this role is $58,000 to $68,000 per year. Compensation will vary based on experience and geographic work location.