Torrington Savings Bank · 1 day ago
Commercial Loan Servicer
Torrington,CT,US
Full-time
Onsite
New Grad, Entry LevelTorrington Savings Bank is seeking a Commercial Loan Servicer to perform various duties related to the servicing of commercial loan, escrow, and insurance accounts. The role involves coordinating loan facilities, maintaining closed loans, and ensuring compliance with loan proposals and documents.
BankingFinancial Services
Responsibilities
Coordinate timely and accurate onboarding and maintenance of all loan facilities in the Bank’s core system including, but not limited to organizations, modifications, renewals, participations, and letters of credit while ensuring compliance with loan proposals and executed closing documents
Maintain all closed loans including review and completion of post-closing checklist and indexing of closing documents to digital file
Performs Quality Control on new loans
Order commercial appraisals, appraisal reviews and residential appraisals as needed
Process Loan Participation transactions: advances, payments, originate wires as necessary
Process advances for RLOC, Draw Down and Construction Loans
Input new and updated insurance information into COCC’s Insight System for existing mortgages/loans
Maintains Escrow Accounts:
Request bills, maintain and pay real estate taxes, condo fees, mortgage insurance, homeowner’s insurance, mortgage life and disability insurance and any other escrowed items as due
Annual analysis of all escrowed accounts
Monitor initial escrow disclosures
Follow through with Insurance cancellations with borrowers and/or agents and commercial lender
Purchase force placed insurance for Bank owned property and mortgages with no existing homeowner’s/property insurance
Process GL tickets for various fees, application fee, UCC-1 filing fee
Quote and Process payoffs; work with commercial lending to determine prepayment penalty. Issue payoff letters to attorneys
Coordinate release of liens in land records and with Secretary of State, DMV, etc
Return paid documents to customers
Generate reports and letters from Synergy
Setup, servicing, remittance and balancing of mortgage life, disability, and accidental death insurance
Coordinate and maintain automatic transfer of mortgage and loan payments
Review computer generated adjustable-rate change reports and letters; mail notices to customers; resolve problems as they occur
Perform loan level maintenance, as necessary
Monitor paid loan files with computer generated reports
Processes loan payments and payoffs received internally and from the mail. Process payment reversals and corrections as needed
Prepare and submit monthly reporting to the SBA
Performs additional duties as requested by Supervisor
Qualification
Required
Accuracy, Clerical Skills; knowledge of the PC and on-line computer system; knowledge of commercial mortgage loan documentation/forms
Must be able to focus and not be easily distracted
Must be able to sit for at least 70% of the workday
Some movement is required to retrieve files, etc
Must be able to see computer screen and read documents
Responsible for actively protecting the confidentiality of customer information and computer systems used in the bank
Remaining alert to and reporting malicious or suspected malicious email
Participating in training opportunities to ensure continued protection of customer data
Provide feedback where possible to help improve the Bank's security culture
Responsible for maintaining confidentiality of all sensitive information
Satisfactorily completes all required compliance training and complies with all regulations which apply within the scope of the position
Company
Torrington Savings Bank
Torrington Savings Bank is a bank that specializes in banking, mortgage, trust, and commercial lending services.
Founded in 1868
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
John Janco
President & CEO
Lesa Vanotti
President & CEO
Recent News
Hartford Business Journal
2025-02-24
Hartford Business Journal
2025-01-14
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