Senior Commercial Loan Servicing Representative

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Regular Full-Time Ware, MA, US

2 days ago Requisition

Salary Range: $60,000.00 To $70,000.00 Annually

Being a part of the Award-Winning Country Bank team has a lot of perks! Our competitive total compensation package and comprehensive benefit package include:

• Medical, dental and vision insurance, a 401(k) Plan with a generous employer contribution plus match;
• Educational assistance and tuition reimbursement benefits;
• Hybrid work and flexible scheduling options;
• Generous total paid time off, and more!

For more information on the Country Bank employee experience, visit our Join Our Team page to learn more!

About the Job:

We're excited to announce an opportunity for the position of Senior Commercial Loan Servicing Specialist! Under the guidance of the Assistant Vice President, Commercial Loan Administration Officer, this position performs a variety of loan servicing functions to ensure proper loan processing and maintenance of the Commercial Loan Portfolio. This includes the end-to-end processing cycle for all commercial Loans.

The hiring range for this position is $60,000 to $70,000. Starting pay determined based on candidate’s qualifications and experience.

This position is Full Time, 40 hours weekly.

Essential Duties and Responsibilities (Other Duties May be Assigned):

• Reviews the Masterfile report for each loan to verify loan was booked according to loan documents, i.e. Credit Approval Memo, Commitment Letter, Promissory Note.
• Performs quality control check on new loan files as well as modifications and partial releases to ensure all critical functions and documents have been completed by all supporting staff. Maintains a database and works directly with Loan Officers, Loan Coordinators and Attorneys for timely receipt of missing and incorrect documents.
• Prepares payoff figures in accordance with MGL Ch 163 as requested by consumers, attorneys and other bank personnel. Processes payoffs closes accounts and sends documentation to borrower. Prepares discharges for Attorneys and records with the registries as required.
• Prepares partial release consideration letters as requested by consumers, attorneys and other bank personnel. Insures the accuracy of the partial release document and collateral being requested for release. Process the partial release payment and sends the executed document to the Attorneys for recording with the registries as required.
• Processes monetary transactions including funds transfers on Commercial Lines of Credit with Lender approval, outgoing wire transfers, construction loan advances and check processing.
• Process any and all loans payments to include the calculating and processing of incoming and outgoing participation loan payments. Assist customers with loan payment discrepancies or issues.
• Maintains direct communication with Allied Solutions for the input and tracking of hazard, flood and equipment insurance policies. Ensures that all policies are accurate and in place. Interacts directly with insurance companies and agencies.
• Backup to the Sr. Escrow Specialist to coordinate and ensure timely payment of real estate tax bills on commercial loans. Monitors and performs follow-up on delinquent real estate taxes securing escrowed and non-escrowed loans, and capitalizes unpaid taxes as needed.
• Knowledge of the LERETA tax service system, including direct contact with the tax/assessor’s office of the cities and towns to which we submit escrow payments.
• Processes general ledger reconciliations regarding the Commercial Work in Process, Loans in Process and Loans in Process Real…