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Provident Bank · 1 week ago

Loan Servicing Representative I (Transaction Processing)

Woodbridge, NJ

Full-time

Onsite

Entry Level

$16.46/hr - $20.56/hr

1+ years exp

Provident Bank is a highly regarded financial institution in New Jersey, committed to enhancing the experience of its employees and customers. The Loan Servicing Representative I is responsible for performing maintenance and audit functions on various types of loans, ensuring compliance and accuracy in loan processing, and providing excellent customer service.

Financial Services

Responsibilities

Assists with managing various commercial loan servicing activities, including but not limited to application of funds, payment of real estate taxes and customer inquiries

Ensures that areas of responsibility meet required deadlines for both internal and external customers

Evaluates and resolves high priority or complex issues through communication and negotiation with customers

Is responsible for setting up all borrower and financial information for entire portfolio of new loan closings on the appropriate Horizon and ACBS systems

Reads and interprets loan documents and approvals for verification of system accuracy

Tracks all future interest rate adjustments and verifies accuracy of system-generated letters for compliance with loan documents. Alerts management of any upcoming changes where may need special attention

Processes all loan modifications, including extensions of maturity, interest rate adjustments, borrower transfers, etc on entire portfolio

Inputs and verifies that all modified data has been approved by Credit Committee and/or designated loan officer

Administers real estate tax escrow disbursement report for prevention of negative escrow transactions for all loans

Directly contacts local municipalities as needed for clarification of amounts due and resolving any discrepancies regarding borrower real estate tax payments made by The Provident Bank

Responds to all borrower inquiries for reconciliation of escrow transactions. Re-analyzes escrow accounts where deficiencies are noted

Handles entire monthly billing process, which includes assuring that all commercial account bills are generated and mailed to customers

Adheres to finest quality control standards

Contacts borrowers on returned mail items for address verification

Processes all monetary transactions including, monthly payments, fees, payoffs, construction and commercial line/loan advances and pay-downs and performs any corrections and adjustments as warranted

Trains new staff on Bank’s policies and procedures needed to perform their respective job function

Perform other duties as assigned by management