Commercial Loan Servicer I

About the Role

Responsible for servicing all commercial loans.

Key Responsibilities

• Adheres to the Credit Union's core values and Service Standards.
• Demonstrates a positive member service (internal and external) focus.
• Demonstrates teamwork in all interactions and duties.
• Ensures confidentiality of member information.
• Supports a diverse and inclusive work environment.
• Assists in all wire postings and back-end file maintenance.
• Adheres to all state, federal and credit union regulations, policies and guidelines.
• Develops relationships in the real estate community.
• Answers the Commercial Servicing direct phone line and email.
• Assists in year-end completion and mailing of 1098/1099 statements.
• Coordinates tracking and payment of escrowed insurance coverage, following up on any lapsed or incomplete coverage.
• Coordinates tracking and payment of escrowed property taxes.
• Assists with the selection, installation (conversions), and maintenance of software products/vendors.
• Participates in developing procedures for commercial servicing operations, including ongoing support, payoff, tax, insurance, and servicing functions.
• Stays abreast of changes in servicing software, regulations, policies, and industry practices.
• Runs daily and monthly reports as needed.
• Oversees all escrow accounts, including correspondence with members regarding escrows and annual escrow analysis.
• Maintains reporting and verification of all property taxes paid for real estate collateral not escrowed.
• Maintains and tracks insurance renewal policies for loans not under the Blanket Insurance Policy.
• Maintains and tracks flood insurance renewals, ensuring no gap in coverage.
• Posts commercial payments daily.
• Researches and corrects payments on loan accounts due to errors in payment application or improper interest rates, including necessary file maintenance.
• Opens new Shared Savings Accounts for new Commercial Borrowers.
• Sets up Commercial members for on-line banking access.
• Works closely with Commercial Post Close and serves as backup as necessary.
• Maintains the paid-off loan report weekly and prepares all collateral releases, coordinating follow-up for timely completion.
• Performs other duties as assigned.

Requirements & Tech Stack

• High school diploma or equivalent (i.e. GED.) with six months to one year previous related work experience, OR a post-secondary degree in Business, Mathematical Science, or other related field.
• Ability to report to work punctually, work all scheduled hours, and work overtime as necessitated by business demand.
• Interpersonal skills to represent the Credit Union positively during member contact.
• Ability to provide quality service to members by phone or in person.
• Ability to develop and maintain effective working relationships with co-workers.
• Ability to prioritize assignments and organize work efficiently to handle large volumes of details.
• Ability to operate related computer applications, an on-line terminal, and other standard office equipment (e.g., calculator, typewriter).
• Accuracy and attention to detail required.
• Lending policies and Real Estate knowledge preferred.
• Escrow experience desired.
• Must be bondable.

Reporting Relationship

Reports to the Manager Commercial Operations.

Supervisory Responsibilities

This position is not responsible for the supervision of other employees.