Here are sample job advertisements for loan servicing roles…
Loan Servicing Supervisor
A well-established bank is looking for a Commercial Loan Servicing Supervisor in their Wayne location. This is a position for an experienced manager with a strong background in managing daily activities of commercial loan operations. This is an open ended contract that has the ability of going perminate. This is an ideal position for someone that is comfortable with a fast paced environment, looking for a position that will challange them, and has a passion for training staff. We offer benefits and a 401k plan for our employees.
Job Responsibilities:
- Supervise daily activities of the NJ Commercial Loan Operations team with full responsibility for servicing a portfolio of over 9000 loans totaling 11.5 billion dollars.
- Delegates tasks to staff, monitors productivity and quality and ensures all daily work is processed accurately and timely.
- Prepare and distribute various managerial reports requested by the Line of Business, Regulatory Compliance and Sr. Management.
- Ensure that staff is fully trained, assist subordinates with daily activities when heavy workflow demands, discipline employees if necessary.
- Complete performance reviews for staff, interview candidates for open positions and make recommendations on the most qualified candidates to hire.
- Participate in change management activities related to continual enhancements associated with the nCino rollout by communicating changes and preparing team members for changes to their daily processes.
- Ensure that departmental operating manuals and training aids are kept up to date and streamlined.
- Liaison for internal and external audit reviews. Directs auditors where to find appropriate data/ reports relevant to the scope of their audit.
Success Profile:
- Knowledge of loan services, loan products, loan documentation, and basic accounting including GL entries and reconciliations.
- Knowledge of Miser system
- Strong interpersonal skills
- HS Diploma or GED and a minimum of 4 years loan service experience
Job Type: Full-time
Commercial Loan Servicing Associate
Join a winning team! Signature Bank® has been ranked among the Top 10 on Forbes’ list of Best Banks in America for six consecutive years!
Signature Bank, member FDIC, is a New York-based full-service commercial bank with private client offices throughout the New York metropolitan area. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers. Signature Bank offers a wide variety of business and personal banking products and services.
The Bank operates Signature Financial, LLC, a specialty finance subsidiary focused on equipment finance and leasing, transportation financing and taxi medallion financing. Investment, brokerage, asset management and insurance products and services are offered through the Bank’s subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC.
Commercial Loan Servicing Associate – Midtown, Manhattan
In this position, you will prepare and execute funding of commercial loan packages and documentation at Signature Bank. If you are a team player who is committed to producing quality work in a high volume environment, this immediate opportunity might be a fit!
Primary responsibilities include:
- Review commercial loan documentation following underwriting guidelines and policies
- Researches and retrieves certain documents such as Resolutions and Account Agreements, ensuring documentation is signed appropriately
- Ensure collateral is in place prior to funding loans.
- Reviews requests for drawdowns prior to funding, ensure loan is in compliance and request is from an authorized signor
- Review and monitor London Interbank Offered Rate (LIBOR) Loans and Participation Loans for rollovers, renewals, repricing, and rate changes
- Prepare input forms to book loans, process requests for advances and payments; review prior day loan activity for accuracy
- Prepares Amortization Schedule as requested
- Prepares payoff letters as requested
- Completes Audit Confirmations
- Sources data from multiple sources and updates and tracks loan portfolio daily.
- Prepare monthly and quarterly unused commitment fee letters for clients; perform loan maintenance
- Examine commercial loan terms and ensure loan is funded within established time frames
- Provide updates to Senior Lenders, Private Client Groups, and Loan Operations Team
Qualifications:
- 2+ years of commercial loan processing experience required preferably in a commercial bank
- Thorough knowledge of commercial loan documentation, collateral tracking, and loan processing systems
- Knowledge of London Interbank Offered Rate (LIBOR) Loans or Participation Loans preferred
- Must work well in a high volume environment, managing multiple priorities and meeting deadlines
- Attention to details and commitment to quality
- Good communication skills both verbal and written required
- Proficient in Microsoft Excel, Word, Outlook, and Access
- High school diploma or GED required
Signature Bank offers a competitive compensation (BONUS PROGRAM), an excellent health benefits package including, 401(k) plan with generous company match, gym reimbursement, pet insurance, tuition reimbursement, award winning wellness program, and much more for qualified employees!
Loan Servicing Analyst
About Quorum:
Quorum Federal Credit Union is an established financial institution of approximately 125 employees. We are proud of the service we provide to our 70,000 plus members, for 80 years and counting. Quorum is constantly looking for opportunities to leverage new innovations and technology to extend our businesses and create new value for our customers and partners. Every day, we use our technology and expertise to make the financial relationships with our customers safe, simple and smart. We’ve also been ranked as a Best Place to Work in NY State by the SHRM Society.
A few more cool things about Life at Quorum…
- Entrepreneurial, collaborative work environment
- True flexibility
- Growth-oriented company with career opportunities
- Top tier compensation and benefits package
- 401k with company match
- Corporate-wide commitment to training and development
- Leadership committed to transparency and engagement
Join our dynamic team and help us make a difference!
About the Loan Servicing Analyst:
The Loan Servicing Analyst is responsible for managing all servicing aspects of the Medical and Consumer Lending product suite, including execution of day-to-day servicing and collection activities, monitoring performance, maintaining policies and procedures, identifying market trends, and more. This position requires a hands on approach with direct member contact and analytical thinking. In addition, this role includes support of other lending products, including real estate, retail, point of sale and commercial loans.
Key Responsibilities:
- Execute all day-to-day loan servicing and collection activities for each consumer lending product within established service level agreements. This includes completing member requests, research, delinquency monitoring and all collection activities.
- Closely monitor delinquency including compiling frequent updates on internally and externally serviced loans, evaluating financial impact to the Credit Union, and providing weekly updates to Management.
- Process all requests for hardship assistance. This includes gathering and reviewing all documents, evaluating assets, evaluating cash flow and ability to pay, recommending action to Management, coordinating with internal stakeholders and external partners, and formally documenting all requests.
- Creation and daily maintenance of reporting that measures and forecasts overall performance of the consumer lending portfolio.
- Continually analyze, track, and improve the end performance of the consumer lending portfolio such as first pay defaults, total outstandings, delinquency percentage, charge off, overall member/partner satisfaction, and etc.
- Identifies and implements process improvements to streamline operations and maintain adequate controls across the organization.
- Recommends changes to underwriting guidelines, system processes and vendor relationships to ensure asset quality and member service levels remain at an optimal level.
- Supports the Department Manager in departmental functions including operating budget, portfolio projections, profitability, vendor relationships, and/or system upgrades, enhancements or replacements.
- Maintains policies, procedures, and other documentation, including servicing metrics, service levels and compliance requirements of lending products.
- Functions as a business lead on departmental or organization wide projects. Contributes expertise in his/her assigned area and executes certain deliverables on the project.
Scope:
The Loan Servicing Analyst works under minimal supervision exercising independent judgment. This person must be action oriented, self-motivated and creative while being highly functional.
Essential Skills, Knowledge and Requirements:
- Bachelor’s degree; business related field preferred. Secondary degree a plus.
- A minimum of five years of experience, with a minimum of two years of loan servicing at a financial institution preferred.
- Excellent problem-solving, organizational, analytical, verbal and written communication skills.
- Strong decision making and time management skills with the ability to manage multiple projects/duties.
- Results driven, service oriented, self-motivated and able to work independently.
- Trustworthy with the ability to maintain highest level of integrity and trust.
- Proficiency in Microsoft Office, specifically Word, Excel and PowerPoint.
Environmental / Physical / Mental Requirements:
The Loan Servicing Analyst performs a major portion of his/her duties through verbal and written communications. It is critical that he / she possess the ability to communicate with clarity, while understanding and explaining complex situations to team members and outside contacts. Accuracy is essential and he / she must possess the ability to proof read documentation and correspondence to insure free of errors and fraud. The person will spend a good portion of the day seated at a workstation, but may also be mobile throughout the credit union for purposes of meetings, working with others, etc.
- Forge effective working relationships with the Bank’s Relationship Managers and Loan Teams in order to define the structure of each loan request, ensure that the loan can be documented and serviced by the Bank, and accurately enter loan information into the CRE origination system.
- Perform end-to-end duties to ensure successful loan transactions, including file/document preparation, due diligence review, client follow-up, and funding of loans.
- Assist RM’s, Loan Processors and Analysts with managing their workflow, questions regarding products, functionality, etc., providing options and escalating issues when appropriate.
- Accurately generate all required loan documentation within the expected service level. This includes working with third parties such as law firms.
- Validate the full and proper execution of loan documentation and fund the loans.
- Generate and obtain documentation related to the collateral and file all appropriate liens/holds, etc., to secure collateral.
- Effectively work with Escrow/Title Officers OR Title Attorneys on smooth and seamless Funding and closing of all loans
- Liaise with the Legal department as well as Credit Administration on issues/policies affecting Residential & some CRE transactions.
- Liaise with the Bank’s outside counsel as needed to ensure timely and accurate preparation of complex loan documentation.
- Liaise with the Bank’s servicing, accounting, compliance and audit departments when necessary.
- Perform other duties, responsibilities, or special projects as assigned by department management.
Qualifications:
- Bachelor’s Degree required.
- Must possess 2 or more years of experience in lending, preferably in Residential, New Construction, or Commercial Real Estate.
- Knowledge or experience in private equity or venture capital lending a plus.
- Must possess knowledge of loan documentation systems.
- Must be able to successfully manage projects of a varied and complex nature.
- Must possess working knowledge of Microsoft Office Suite.
- Must possess strong analytical, process, and people skills.
- Must possess excellent oral and written communication skills.
- Must possess the ability to work proactively and operate accurately and efficiently in a fast-paced environment with variable deadlines.
- Must possess demonstrated organizational skills and a strong attention to detail.
- Must be able to provide extraordinary service and have fun!
Job Type: Full-time
Join a winning team! Signature Bank® has been ranked among the Top 10 on Forbes’ list of Best Banks in America for six consecutive years!
Signature Bank, member FDIC, is a New York-based full-service commercial bank with private client offices throughout the New York metropolitan area. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers. Signature Bank offers a wide variety of business and personal banking products and services.
The Bank operates Signature Financial, LLC, a specialty finance subsidiary focused on equipment finance and leasing, transportation financing and taxi medallion financing. Investment, brokerage, asset management and insurance products and services are offered through the Bank’s subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC.
Commercial Loan Servicing Associate – Midtown, Manhattan
In this position, you will prepare and execute funding of commercial loan packages and documentation at Signature Bank. If you are a team player who is committed to producing quality work in a high volume environment, this immediate opportunity might be a fit!
Primary responsibilities include:
- Review commercial loan documentation following underwriting guidelines and policies
- Researches and retrieves certain documents such as Resolutions and Account Agreements, ensuring documentation is signed appropriately
- Ensure collateral is in place prior to funding loans.
- Reviews requests for drawdowns prior to funding, ensure loan is in compliance and request is from an authorized signor
- Review and monitor London Interbank Offered Rate (LIBOR) Loans and Participation Loans for rollovers, renewals, repricing, and rate changes
- Prepare input forms to book loans, process requests for advances and payments; review prior day loan activity for accuracy
- Prepares Amortization Schedule as requested
- Prepares payoff letters as requested
- Completes Audit Confirmations
- Sources data from multiple sources and updates and tracks loan portfolio daily.
- Prepare monthly and quarterly unused commitment fee letters for clients; perform loan maintenance
- Examine commercial loan terms and ensure loan is funded within established time frames
- Provide updates to Senior Lenders, Private Client Groups, and Loan Operations Team
Qualifications:
- 2+ years of commercial loan processing experience required preferably in a commercial bank
- Thorough knowledge of commercial loan documentation, collateral tracking, and loan processing systems
- Knowledge of London Interbank Offered Rate (LIBOR) Loans or Participation Loans preferred
- Must work well in a high volume environment, managing multiple priorities and meeting deadlines
- Attention to details and commitment to quality
- Good communication skills both verbal and written required
- Proficient in Microsoft Excel, Word, Outlook, and Access
- High school diploma or GED required
Signature Bank offers a competitive compensation (BONUS PROGRAM), an excellent health benefits package including, 401(k) plan with generous company match, gym reimbursement, pet insurance, tuition reimbursement, award winning wellness program, and much more for qualified employees!
Service is our cornerstone!
View available Careers with Signature at www.signatureny.com/careers
We are an Equal Opportunity Employer
We do not sponsor work visas
Relocation or interview travel expenses are not available for this role
No Agencies Please
- Work effectively with clients, assist Loan Officers and process files simultaneously. Manage time and resources to ensure work is completed timely, efficiently and within established deadlines;
-
Receive mortgage applications from Loan Officer and review all imputed information in Encompass to verify accuracy of the data to properly send initial and final disclosures to the applicant, order flood certifications and fraud guard reports;
-
Review files submitted to verify that all the required documentation needed has been supplied to submit the file to obtain an AUS approval and submit to Underwriting Dept.;
-
Upon receipt of file from underwriter whether suspended or approved, work closely with Loan Officer to obtain and review all documentation received by applicants as requested by the Underwriter;
-
Verify with third parties such as employers, banking institutions, credit bureaus and any other sources to make sure all information provided is accurate;
-
Prepare all documentation for the submission of final credit clearance to the underwriter;
-
Provide excellent customer service to mortgage applicants, both verbal and written;
- Provide feedback to management on loan activities based on loan level reporting.
-
Minimum of 5 years of mortgage lending processing experience;
-
Must have current Conventional, FHA and VA Mortgage Lending experience;
-
Able to accurately process first mortgage loans; Fannie Mae, Freddie Mac, VA and FHA;
-
Must have analytical and auditing skills as well as a firm grasp on math;
-
Proficiency in calculating self-employment income and DTI ratios;
-
Must have knowledge pertaining to the regulations governing mortgage lending;
-
Knowledge of broker processes and guidelines for any loans that may be sent to an acceptable broker;
-
Must have experience in automated underwriting systems such as DU and LP;
-
Experience using Encompass is a plus;
-
Computer literacy and proficiency with relative applications;
-
Must have excellent customer service, communication skills and able to handle multiple tasks simultaneously;
-
Strong organizational and prioritization skills;
- Aptitude to think one step ahead in a fast-paced environment.
-
Competitive base salary and monthly bonus compensation structure, commensurate with experience level;
- Comprehensive benefits package available.