Loan Servicing Specialist

Description

The Loan Servicing Specialist is responsible for the accurate and timely administration of commercial and consumer loan transactions throughout the loan lifecycle within the Fiserv banking system. This position manages loan boarding, renewals, extensions, modifications, payment processing, advances, payoffs, account maintenance, participation processing, escrow administration, wire transfers, and loan file management. The Loan Servicing Specialist serves as a resource for customers and internal staff, ensuring compliance with Bank policies, regulatory requirements, and operational procedures.

Success in this role requires commitment to professionalism, accuracy, customer service, teamwork, and operational excellence.

• Board new commercial and consumer loans into the Fiserv banking system.
• Process loan renewals, extensions, modifications, and maintenance requests.
• Maintain accurate loan records and account information within the Fiserv banking system.
• Process customer loan payments, principal reductions, advances, transfers, and payment adjustments.
• Prepare and process wire transfers related to loan funding and line-of-credit advances.
• Prepare payoff quotes, payoff letters, and payoff calculations upon request.
• Process loan payoffs and complete related account maintenance activities.
• Prepare and process collateral releases and related documentation following loan payoff.
• Maintain, organize, scan, archive, and retrieve loan documentation and files.
• Research and resolve loan servicing discrepancies, payment exceptions, and account maintenance issues.
• Respond to customer inquiries regarding loan balances, payments, advances, payoffs, escrow accounts, and general loan servicing matters.
• Communicate with borrowers and internal departments regarding servicing requests and account maintenance.
• Perform additional duties and special projects as assigned.

• Review participation activity and reports.
• Process incoming and outgoing participation payments accurately and timely.
• Reconcile participation balances and research discrepancies.
• Communicate with participating institutions regarding payment activity and servicing matters.

• Establish and maintain escrow accounts for taxes and insurance.
• Review escrow balances and payment requirements.
• Process real estate tax and insurance disbursements in a timely manner.
• Research and resolve escrow-related discrepancies and exceptions.

• Ensure loan servicing activities comply with Bank policies, procedures, and applicable federal and state regulations.
• Maintain accurate loan records and documentation in accordance with regulatory and internal requirements.
• Protect the confidentiality of customer and Bank information.
• Support internal audits, external audits, and regulatory examinations by providing requested documentation and research.
• Identify and escalate operational, servicing, documentation, and compliance concerns as appropriate.
• Adhere to Bank security procedures, fraud prevention practices, and risk management standards.

• Serve as a resource for branch personnel and internal departments regarding loan servicing procedures, processes, and account maintenance.
• Provide support to Loan Operations team members and assist with departmental functions as needed.
• Participate in cross-training activities to ensure adequate departmental coverage and business continuity.
• Identify opportunities to improve workflows, operational efficiency, accuracy, and customer service.
• Assist with the implementation of process improvements, system enhancements, and operational initiatives.
• Co…