Senior Commercial Loan Service Specialist, Full-Time, Hybrid Marlboro

Schedule

Monday-Friday 8-5 (40 hours) Hybrid

What You’ll Do

Summary/Objective:
Primary responsibility to support Commercial Lending in providing customer service to internal and external customers, including answering telephone calls, and interfacing with members directly regarding system use, loan documentation and general servicing inquiries.

There are three sub-functions that the Senior Commercial Loan Servicing Specialist (SCLSS) may be assigned:
1. Loan Operations
2. Loan Administrator
3. Small Business Support

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Essential Functions – (1) Loan Operations:
Primary responsibilities are to process and monitor all phases of commercial loans
• Prepare new loan documentation (Note and/or Loan Agreement) on loans that are not real estate secured and prepare Amendments to Notes and/or Loan Documents as described in the appropriate approval document. Review Commitment Letters prior to them being mailed to ensure the commitment letter matches the approval document. Within regulatory timeframes, create mortgage discharges, assignments and assess the appropriate fees associated, if applicable.
• Perform a pre-closing and post-closing review of all new loans and amendments for compliance and accuracy and works closely with the closing attorneys and relationship managers to ensure all changes are completed and that the loan was closed in compliance with the approval.
• Work with legal counsel, loan correspondents and borrowers to collect, review and organize legal, governmental, and professional materials necessary to properly document and close.
• Research legal file to provide requested documents or answers to relationship managers, attorneys, or members.
• Responsible for booking and/or modifying commercial loans. This entails the ability to read and interpret promissory notes and modifications agreements to establish the proper schedules and data on system that will reflect the contract with the member. Must be able to use sound judgment when selecting codes such as property type, account type, flags, etc. as each of these is critical to the system and reporting.
• Responsible for processing paid loan files which includes logging paid loan files, accurate preparation of mortgage discharges, confirmatory discharges, and partial release documents, and ensure the timely delivery of the necessary closed loan documentation to members and closing agents.
• Oversee all commercial loans participated with other credit unions and financial institutions. This involves communication with investor credit unions (participant), sending and receiving funds, rate changes and forwarding on-going information to the appropriate.
• Review and approval for mailing all commercial loan bills and payment notices.
• Review the input of all new loans booked on the XP Core system.
• Review various daily monitoring reports to insure payments were processed correctly. Monitor all declined, withdrawn or approved but not accepted loan applications to ensure a Lost Business Form has been completed and filed.
• Balance accrual, billing and general ledger accounts and systems, monitor report and escalate outstanding items.
• Update outstanding loan documentation and financial information, as well as, monitoring information in the Suntell System.
• Prepare the 1502 Colson Report for all of DCU’s (including Octant loans) SBA guaranteed loans.
• Responsible for reporting all loans that fall under HMDA and complete the LAR for each HMDA applicable loan.
• Support all aspects of Pega including loan processing, reporting errors or bugs, entering and testing tickets as needed.
• Set up new Business Visa accounts on Springboard. Research and processes all servicing matters relating to Business Visa accounts
• Initiate internal wires for loan closings, advances, or member requests.
• Produce Escrow analysis Statements for all consumer/commercial type insurance and taxes and perform account maintenance. Perform Escrow review and release module. Become the subject matter expert on the regulatory requirements for escrow accounts.
• Process loan payments, construction advance requests, research and resolve all discrepancies. Perform simple and complex scheduled and non-scheduled maintenance functions.
• Complete NCUA Call report monthly as well as investigate any data discrepancies.
• Responsible for tracking and processing payments for various tax and insurance policies (including forced placed and flood) in the commercial loan portfolio. Follow-up with members and agencies as needed.
• Perform in-depth research and analysis leading to resolution of inquiries related to monetary or documentation issues.
• Mentor, support and train