Loan Servicing Specialist II

Overview

Loan Servicing Specialist II

• Location: California
• Job Type: Full-Time | Non-Exempt | Remote
• Salary Range: $37.01– $41.82 per hour

This role performs all post-closing duties related to loan servicing functions, including processing special handling transactions and special assets activity. Work is performed under minimal supervision and direction of the Loan Servicing Team Lead.

Responsibilities

• Process paperwork required for proper disbursement of loan funds at closing and board all new and modified loans by inputting loan, customer, collateral, and tickler data in the loan accounting system.
  • Data entry must be based on the loan terms in the executed loan documents, as expressed in the credit approval.
• Accurately process monetary transactions, including loan payments, advances, paydowns, and payoffs.
• Perform loan maintenance activities, including:
  • Customer address changes
  • Late charge waivers
  • Automatic payment set-ups/changes
  • Payment adjustments
  • Payment schedule and billing adjustments
  • Interest changes
  • Tickler updates and other coding changes
• Prepare demand letters for loan payoffs or paydowns as requested by title/escrow companies and third-party creditors.
• Respond to branch requests for information through general research (e.g., note histories, billing problems, payment posting).
  • Escalate complex issues to the Note Dept. Manager or Note Dept. Assistant Manager, as needed.
• Process incoming and outgoing wires.
• Provide loan servicing support within approved Service Level Agreements to other departments and business units, as needed.
• Review computer-generated reports daily to ensure GL balances to loan system data.
  • Clear non-posted transactions and correct any out-of-balance conditions.
• Prepare reconveyances for loan payoffs (or partial reconveyances) as requested by title/escrow companies and third-party creditors.
• Prepare monthly certifications.
• Maintain accountability for regulatory and policy compliance with applicable state and federal requirements, including (but not limited to):
  • Bank Secrecy Act
  • Anti-Money Laundering Act
  • Community Reinvestment Act
  • OFAC regulations
  • Fair Lending
  • All applicable bank and government regulations
• Attend training and maintain basic knowledge of procedures to ensure compliance with laws and regulations governing financial institutions, with emphasis on:
  • BSA/AML/CIP
  • Consumer Privacy
  • Regulation CC
  • Information Security
  • Bank Protection Act
  • FACT-Identity Theft
  • Information Technology
  • GLBA
• Perform other departmental duties as assigned.

Requirements

Minimum Qualifications

• Education/Training/Experience (Required):
  • High School Diploma or General Education Degree (GED)
  • Minimum of 5 years of experience in loan processing and accounting
  • Equivalent combination of education and experience is acceptable

Knowledge

• Ability to assess situations and drive resolutions
• Working knowledge of personal computers and software
• Supervisory-level knowledge of loan accounting system functions and procedures
• Knowledge of banking laws, policies, procedures, service, and credit products
• Principles of report preparation
• Analysis and statistics
• General accounting and mathematics
• Familiarity with bank marketing, operations, and other daily banking functions to maintain understanding of customer management and product delivery

Abilities

• Enter data in a personal computer, use a calculator; operate telecommunications and other office equipment
• Use word processing, spreadsheet, graphics, and database software, as well as specialized financial systems software
• Plan, organize, and prioritize tasks to meet deadlines
• Lead and motivate employees to complete tasks according to established standards
• Analyze and solve work problems
• Follow oral and written instructions
• Communicate effectively with coworkers, consultants, regulators, and other parties
• Prepare clear and concise reports and other documentation and correspondence

Licenses; Certificates; Special Requirements

• None

Preferred Qualifications

• Proficient in all loan accounting and servicing-related functions, with emphasis on commercial/business and real estate lending

Compensation & Benefits

• Competitive employer contribution to medical, dental, and vision coverage
• 401k plan with employer match
• Flexible Spending Accounts (FSA) and Dependent Care Accounts
• Employee Assistance Program (EAP)
• Employer provided Calm subscription
• Employer provided mental health benefits through Teladoc
• Life, AD&D and disability insurance
• Minimum 15 Days of Vacation
• 11 Paid Federal Holidays
• Paid Time off to Volunteer
• Online discount program
• Tuition Reimbursement Program

Location & Work Authorization

• Location: California
• Applicants must be legally authorized to work in the United States at the time of hire.
• This position is not eligible for employment sponsorship.