Loan Servicing Specialist

Job Description

Job Description

The Loan Operations Specialist is responsible for booking new loans, renewing loans, and posting monetary transactions on the loan system. Monitors system generated reports, customer bills/statements, and real estate loan portfolio insurance and escrow payments. Cross-trained to perform the job duties and responsibilities of the Loan Documentation Specialist as necessary.

Minimum Job Requirements

• High School degree and equivalent work experience. College degree in related business field preferred.
• Minimum five years of experience in loan operations with knowledge of loan documentation, insurance requirements, escrow processing, and banking regulations.
• Excellent verbal and written communication skills.
• Excellent interpersonal, organizational, and analytical skills.
• Knowledge of financial services and regulatory compliance: Know Your Customer, Customer Identification Program, BSA/Anti-money Laundering, and OFAC.
• Excellent follow-up skills.
• Proficient in use of the Internet.
• Proficient in Microsoft programs: Outlook, Excel and Word
• Proficient in banking software: BancPac, Vision, Co-Pilot, iDoc, and iCheck
• Contributes to building a positive team spirit; supports everyone’s effort to succeed.
• Commitment to the Bank’s customer service staff members’ promise.
• Adherence to Sunstate Bank’s attendance and punctuality policies.
• Adherence to Sunstate Bank’s Code of Ethics, Policies and Procedures
• Adherence to Sunstate Bank’s regulatory and compliance training program.
• Flexibility to work in any location within the Sunstate Bank system and on Saturdays according to branch schedules.
• May require bilingual skills (English/Spanish) in certain instances.

Essential Job Duties and Responsibilities

• Identifies and inputs on the BancPac loan system all new and renewed loans.
• Performs loan maintenance on the BancPac loan system.
• Performs loan pay-offs, charge-offs, partial charge-offs, and participation sold/bought on the BancPac loan system.
• Performs loan system posting of loan disbursements and advances, and any other requirement monitory transaction.
• Prints on a daily basis all system generated reports, notices, and billing statements.
• Reviews daily and monthly system generated reports for accuracy (new loans, modification, loan renewals, payment exception reports, participations, etc.)
• Weekly reviews the insurance exception tracking reports generated by Overby-Seawell.
• Reviews for accuracy, scans and transmits on a daily basis all insurance renewals and cancellation notices to Overby-Seawell.
• Reviews for accuracy customer billing statements.
• Reviews system reports to ensure that posted payments, ACH payments, and auto payments are correctly posted.
• Responsible for remitting and collecting payments on participations sold/bought.
• Responsible for the annual generation of escrow analysis.
• Responsible for generating insurance and tax payments for escrowed loans.
• Responsible for generating escrow analysis refunds.
• Responsible for responding on eOscar inquiries.
• Performs daily and monthly reconciliation of general ledger, unposted, suspense, and escrow disbursement account reconciliations.
• Prepares estoppel letters.
• Remits documentary stamp tax payments.
• Establishes and monitors ticklers for periodic interest rate changes on ARM and CD loans.
• Prepares departmental reports for meetings.
• Scans loan underwriting and closing documents on iDoc.
• On a daily basis file work in the appropriate credit or department file.
• Promptly responds to customer inquires.
• Work on special projects as assigned by the Loan Operations Manager.
• May perform other duties and responsibilities as needed and requested by Bank management including Branch Customer Service functions.