Loan Servicing Specialist

Description/Job Summary

The Loan Servicing Specialist serves in the Loan Operations Department and directly reports to the Vice President of Loan Operations. This role is the functional expert for Loan Servicing transactions and is responsible for accurately processing servicing actions for existing loans, which involves liaising with field personnel to understand the transaction, completing analysis and required forms, and booking the servicing action in the loan system. The role is required to regularly serve on the Credit Services Committee in order to present servicing actions and determine the approval or denial of servicing. Further, the role is actively involved with non-traditional Loan Servicing requests, such as collections and Troubled Debt Restructurings.

Responsibilities/Duties

Loan Servicing Analysis & Operations
The Loan Servicing Specialist processes, analyzes, and, in some cases, approves Loan Servicing actions in a timely and accurate manner. Key tasks include:

• Verifies borrower information and the requests for servicing actions through discussion with field personnel and review of credit bureaus
• Determines analysis needs (e.g., differential, or low-impact analysis), and completes analysis for low-impact servicing requests
• Collects and organizes information regarding real estate transactions, ensuring accuracy of corresponding real property information
• Reviews completed appraisals on mortgage loans for real estate servicing actions
• Reviews and understands real estate legal descriptions for accuracy and determination of location
• Completes required forms for servicing transactions, including (but not limited to) partial release, subordination of collateral, releases of personal liability, loan extensions, and re-amortizations
• Approves low-risk servicing actions if the transaction is within delegated authority level
• Enters and books Loan Servicing actions into the loan system

Loan Servicing Approval Committee
The Loan Servicing Specialist actively participates in the approval process for Loan Servicing actions by serving on credit committee, communicating decisions, and incorporating 3rd parties if deemed necessary. Key tasks include:

• Serves on Credit Services Division Loan Committee and Credit Services Committee
• Participates actively on loan committee to clarify information, present transactions as needed, and, at times, determine the approval or denial of servicing actions
• Communicates credit servicing decisions to the field accurately and in a timely manner
• Identifies the need for third parties (e.g., funding bank) to become involved in the process after approval of the requested servicing action

Non-Traditional Loan Servicing Actions
The Loan Servicing Specialist executes the procedures related to non-traditional loan situations, including estate collections, Troubled Debt Restructures, and Special Mentions. Key responsibilities within this section include:

• Prepares Troubled Debt Restructure ("TDR") forms for accounts that are not Acceptable or Other Assets Specially Mentioned ("OAEM")
• Completes analysis to determine if an estate claim should be filed
• Files estate claims appropriately based on outcome of the analysis
• Reviews loans on the NCR Pool list and identifies the need for notification or approval

Project & Training Participation
The Loan Servicing Specialist seeks to make an impact within the firm through participation in strategically significant projects and training sessions. Key tasks include:

• Participates in "high-level" committees to provide insight and develop processes and procedures
• Participates in all required training sessions as determined by Vice President of Loan Operations
• Participates in the annual collateral benchmark update process and execution

Data Security and Confidentiality

• Appropriately protects the confidentiality, security, and integrity of the Association's systems and data and clients' data

Required Skills

• Skill in organizing material and information in a systematic way to optimize efficiency
• Skill in interacting and working effectively with others
• Skill in differentiating significant and insignificant details
• Skill in utilizing a systematic approach to problem solving
• Working knowledge of Word, Excel, PowerPoint, and Outlook sufficient to create, update and save a variety of documents
• Strong attention to detail and high accuracy
• Skill in utilizing technology to increase efficiency
• Oral and written communication skills sufficient to discuss a variety of job-related topics, and to effectively communicate complex topics to a variety of audiences

Required Qualifications

Bachelor's degree in finance, agriculture, business or related field
Or equivalent education, experience, and skillset sufficient to perform the essential functions of the job