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MutualOne Bank · 2 months ago

Senior Commercial Loan Servicing Representative

Natick, MA, USA

Full-time

Onsite

Senior Level

MutualOne Bank is seeking a Senior Commercial Loan Servicing Representative to perform a variety of loan servicing and processing activities in compliance with established bank policies. The role involves booking and modifying commercial loans, conducting post-closing reviews, and ensuring customer inquiries are handled professionally.

FinanceFinancial ServicesReal Estate

Responsibilities

Responsible for booking and/or modifying commercial loans. This entails the ability to read and interpret promissory notes and modifications agreements to establish the proper schedules and data in the system that will reflect the contract with the member. Must be able to use sound judgment when selecting codes such as property type, account type, flags, etc. as each of these is critical to the system and reporting

Perform a post-closing review of all new loans and amendments for compliance and accuracy, while working closely with the closing attorneys and relationship managers to ensure that all changes are completed, and loans are closed in compliance with the approval. Review legal documents for accuracy and completeness

Maintain, manage, and track all pending and outstanding loan documents, resolve exceptions and ensure that any missing or incorrect information is identified and promptly corrected

Ensure collateral recording information is secure and maintained in the core banking system

Monitor, maintain and update rate and payment change records as required. Send adjustment notices to customers and respond to any customer inquiries or concerns. May manually calculate daily interest rate and per diem rate for customer/lender/attorney

Review various reports to clear system errors and update loans as needed

Research and resolve servicing issues in support of loan officers and customers within the scope of authority and expertise. Perform complex transactions, and loan payments, including but not limited to recalculating principal, interest and other payment information for accounts and performing escrow as necessary

Monitor real estate taxes, flood & hazard insurance, and other charges on secured properties

Instruct vendors to impose forced-placed insurance coverage on acquired properties, ensure proper coverage, and pay premiums

Process commercial mortgage, commercial loan, and construction loan payoff requests from internal and external customers

Prepare paid off documentation for the customer and/or attorney, releasing collateral liens

Review various daily monitoring reports to ensure payments were processed correctly

Adhere to timelines and deadlines established based on client needs and department workflow

Perform other job-related duties as assigned by Managers(s)

Qualification

Commercial loan processingBanking regulations knowledgeCustomer service skillsData input skillsCritical thinkingInterpersonal skillsCommunication skillsProblem-solving skills