Loan Servicing Specialist II

At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as education, skills, internal equity, and experience. This position offers additional compensation in the form of short‑term incentives (i.e. bonus and/or commission) and may include long‑term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well‑being benefits, paid family leave, and generous paid time off.

Total Rewards also include banking perks, an Employee Stock Purchase Plan, a 401(k) plan with company match, and may provide a Non‑Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.

Salary Range: $20.00 - $22.25 an hour

This position falls within Loan Servicing, the production arm of Loan Operations. The Loan Servicing Specialist II is primarily responsible for handling the basic to moderately complex functions assigned to Loan Servicing within the following areas:
Loan Servicing, Loan Booking, Loan Collateral, and Loan Escrow. This individual will assist and provide support as needed to foster and sustain a strong team environment.

Loan Servicing functions entail performing daily maintenance in the Core system from basic to complex requests, working exception reports, processing maintenance workflows, performing balancing tasks for various loan accounts, researching and clearing recon items, researching and resolving Credit Bureau disputes, resolving Lockbox rejects, performing various payment processing functions, processing non‑performing loan and charge‑off transactions, processing floor‑plan and participation loan transactions, and researching and responding to customer inquiries.

Loan Booking functions entail onboarding loans to our bank’s Core system as they come from Loan Funding. Loan Booking handles onboarding all consumer and commercial loans, and the mortgage portfolio as well as performing maintenance for renewals and changes in terms.

Loan Escrow functions entail ensuring all real estate taxes, insurance premiums, and PMI/MIP premiums are properly disbursed and paid for all borrowers who escrow these payments. Loan Escrow is additionally responsible for running escrow analysis, performing maintenance on the bank’s Core system, posting payment exceptions, and tracking delinquent real estate taxes.

Loan Collateral functions entail tracking all collateral held within the bank’s loan portfolio, performing collateral validation, ensuring borrowers obtain and maintain adequate insurance, verifying and tracking flood requirements, force‑placing insurance, and communicating with the lending team and customers to protect the collateral position of the bank. This individual would also process and sort the Corporate office’s mail as well as disburse the department’s mail.

• Receives, validates and completes basic to moderate complexity loan maintenance requests.
• Processes loan payments and payoffs.
• Researches payment issues and discrepancies.
• Researches and resolves reconcilement items.
• Researches and processes un‑posted items.
• Compiles, reviews, and manages distribution of funds for insurance loss claims.
• Assists with general escrow analysis inquiries.
• Performs loan research; able to answer and resolve basic to moderately complex inquiries of various loan types in commercial, consumer, and mortgage.
• Responsible for Credit Bureau reporting and Credit Disputes.
• Performs credit card maintenance and new card booking audit.
• Answers all inbound basic to complex loan servicing calls routed to Loan Servicing, by resolving or escalating to the appropriate representative or team.
• Performs outbound courtesy calls to loan customers as needed.
• Ensures that all collateral ticklers are set according to the specifications outlined in the lending agreements/documentation.
• Reviews, tracks, and updates collateral through reports and escalates exceptions.
• Tracks and updates hazard insurance collateral; sends reminder letters when necessary to meet government guidelines.
• Proactively works all aged collateral items.
• Disburses escrow…