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Title
Text copied to clipboard!Commercial Loan Servicing Specialist
Description
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We are looking for a detail-oriented and proactive Commercial Loan Servicing Specialist to join our finance team. In this role, you will be responsible for the ongoing administration and servicing of commercial loan portfolios, ensuring compliance with regulatory requirements and internal policies. You will act as a key liaison between borrowers, relationship managers, and internal departments to facilitate smooth loan operations and resolve any issues that arise throughout the loan lifecycle.
Your primary duties will include processing loan payments, monitoring loan covenants, managing escrow accounts, and preparing reports for management and regulatory bodies. You will also be responsible for maintaining accurate loan documentation, processing modifications, renewals, and extensions, and ensuring timely responses to customer inquiries. The ideal candidate will possess strong analytical skills, excellent communication abilities, and a thorough understanding of commercial lending practices and regulations.
As a Commercial Loan Servicing Specialist, you will play a crucial role in mitigating risk and ensuring the financial health of the institution’s loan portfolio. You will collaborate closely with credit analysts, underwriters, and legal teams to ensure all loan servicing activities are executed efficiently and accurately. Your attention to detail and commitment to customer service will help maintain positive relationships with clients and support the institution’s reputation for excellence.
This position offers opportunities for professional growth and development within the finance and banking sector. If you have experience in loan servicing, a passion for accuracy, and a desire to work in a dynamic environment, we encourage you to apply.
Responsibilities
Text copied to clipboard!- Administer and service commercial loan portfolios.
- Process loan payments, advances, and payoffs accurately.
- Monitor loan covenants and compliance requirements.
- Maintain and update loan documentation and records.
- Manage escrow accounts and insurance tracking.
- Prepare and distribute reports for management and regulatory agencies.
- Coordinate with borrowers and internal teams to resolve issues.
- Process loan modifications, renewals, and extensions.
- Respond to customer inquiries in a timely manner.
- Assist with audits and regulatory examinations.
- Ensure adherence to internal policies and external regulations.
Requirements
Text copied to clipboard!- Bachelor’s degree in finance, business, or related field.
- 2+ years of experience in commercial loan servicing or banking.
- Strong knowledge of commercial lending practices and regulations.
- Excellent organizational and time management skills.
- Proficient in loan servicing software and Microsoft Office Suite.
- Strong analytical and problem-solving abilities.
- Exceptional attention to detail and accuracy.
- Effective verbal and written communication skills.
- Ability to work independently and as part of a team.
- Customer service-oriented mindset.
- Familiarity with regulatory compliance requirements.
Potential interview questions
Text copied to clipboard!- What experience do you have with commercial loan servicing?
- How do you ensure accuracy in loan documentation?
- Describe a time you resolved a complex loan servicing issue.
- What loan servicing software are you proficient in?
- How do you stay updated on regulatory changes?
- Describe your approach to managing multiple priorities.
- How do you handle difficult customer inquiries?
- What steps do you take to ensure compliance?
- Can you explain your experience with escrow management?
- How do you collaborate with other departments?
