Commercial Loan Servicing Job Description
Commercial loan servicing
provides loan information to potential new residential and commercial construction clients and determine feasibility of potential construction loan.
Commercial Loan Servicing Duties & Responsibilities
To write an effective commercial loan servicing job description, begin by listing detailed duties, responsibilities and expectations. We have included commercial loan servicing job description templates that you can modify and use.
Sample responsibilities for this position include:
Provide support to introduce changes to the production CLS Accounting systems (generally Shaw CLS, Spectrum Floor Plan/Dealer Workbench, Ops Workbench and ELAR)
Provide project task management to facilitate changes to CLS systems
Identify, document, and execute UAT scripts for CLS systems and collaborate with project team regarding any issues identified
Document new and update existing procedures, including creating training materials for system changes to be presented to CLS Accounting management and staff
Support analysis of potential solutions or improvements to operational issues including testing, documentation, and training
Pre and post funding analysis of flood insurance requirements, setup of insurance tracking ticklers based on those requirements
Monitoring system of record for upcoming expirations of insurance policies, acting to extend or obtain renewals of the items prior to their expiration
Performs annual due diligence for collateral properties located within an SFHA for flood insurance requirements
Communicates insurance requirements with bankers, insurance agents/carriers, and customers
Manages 45-day notification process on loans with expired flood insurance
Commercial Loan Servicing Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Commercial Loan Servicing
List any licenses or certifications required by the position: GL
Education for Commercial Loan Servicing
Typically a job would require a certain level of education.
Employers hiring for the commercial loan servicing job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and High School Degree in Business, Finance, Education, Accounting, Technical, Legal, Real Estate, Communication, Associates, Military
Skills for Commercial Loan Servicing
Desired skills for commercial loan servicing include:
Legal documentation
Commercial loan
CLO
Microsoft Office
AFS
Microsoft Office Suite
OnBase
Residential and commercial loan systems and operations
Excel
Administration
Desired experience for commercial loan servicing includes:
Must be willing to work in a fast-paced, heavy volume environment
Minimum requirement includes a Bachelors degree from an accredited university
Excellent understanding of the Corporate & Commercial Lending operations with concentration in accounting and transaction monitoring
Experienced in managing financials and risk effectively managing staff’s performance
Create industry leading customer experience and innovate for competitive advantage
Lead initiatives in lending operations team to embody “We’re here to help”
Commercial Loan Servicing Examples
1
Commercial Loan Servicing Job Description
Job Description Example
Our growing company is looking to fill the role of commercial loan servicing. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for commercial loan servicing
- Reviews incoming policy documents for sufficiency of coverage and communicates any deficiencies with appropriate
- Manages communication with internal customers regarding insurance exceptions
- Subject matter expert on FDPA requirements and demonstrated ability to review documents for FDPA loan closing requirements
- Log, file and monitor all collateral documents
- Loan maintenance updates
- Delivering accurate results
- Work with the closing team to ensure the deal is serviceable by engaging in the pre-closing activities
- Review loan documentation following underwriting guidelines and policies
- Prepare input forms to book loans, process requests for advances and payments
- Update and track loan portfolio
Qualifications for commercial loan servicing
- Exceed customer and business partner expectations, meet or exceed SLAs, successful closings 100%, Same day payment processing for reconciled payments
- Ensure consistent business practice, across the CCLO Lending Operations teams for similar functions
- Minimum of two years proven commercial real estate servicing experience or equivalent
- Have a minimum of 7 years experience in management of operations area, familiar with the creation and implementation of performance metrics
- Perform high volume, complex monetary and non-monetary transactions on Commercial Loans ensuring service levels are met in terms of timeliness, accuracy, quality and customer service
- Ability to work both independently and collaboratively through projects and day to day functions
2
Commercial Loan Servicing Job Description
Job Description Example
Our company is looking for a commercial loan servicing. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for commercial loan servicing
- Ensure that documents submitted meet requirements outlined in procedures or as specified
- Must have excellent written and oral communication skills for interaction with internal and external customers, vendors, team members and other bank departments
- Must maintain high level of accuracy and responsiveness
- Ability to work with budgets
- Review of complex commercial transactions to determine process necessary for funding and on-boarding
- Enter payment and payoff transactions to the FIS Loan System or specialty loan servicing system
- Works with auditors on various regulatory and compliance issues variety of special projects as assigned
- Post transactions including payments, pay downs, payoffs, advances, adjustments to accounting system
- Requires a complete and thorough understanding of loan system in order to post properly
- The daily report review uncovers system errors that would not otherwise be caught
Qualifications for commercial loan servicing
- Utilize lessons learned and previous experience to perform complex research and adjustments to loan system data
- Review and approve daily work prepared by Loan administrators for posting to the ACBS system
- Communicate with loan officers and other managers regarding loan transactions and exceptions
- Ability to articulate daily functions in procedural format to maintain strong, effective written procedures for all job functions
- Effectively and appropriately communicate problems/issues within management team to create awareness
- High School Degree or equivalent or military experience
3
Commercial Loan Servicing Job Description
Job Description Example
Our company is searching for experienced candidates for the position of commercial loan servicing. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for commercial loan servicing
- Perform necessary transactions and maintenance of system records to post loan advances, loan transfers, new portfolios and/or funds, and reallocations on the Strategy Commercial Loan Servicing system
- Quality Control of daily work for a small group of servicers and as a fill in for the full time Quality Control person during vacations
- The supervisor will lead a staff of between 2-8 non-exempt FTE
- Perform reviews on insurance certificates and/or policies for flood, hazard, , prior to closing and/or on all upcoming expirations to ensure accurate coverage
- Monitor, review and submit CoreLogic Tax Reports to Business Lines for further processing to assure bank’s lien position is maintained during the life of the loan or as approved
- Be responsible for the boarding of commercial and commercial real estate loans including, but not limited to, establishing tracking metrics for tax records and pending collateral documentation, utilizing Jack Henry and LaserPro within internal guidelines and regulatory requirements
- Analyzes property operating statements and rent rolls
- Creates operating history, income and expense statements
- Identifies strengths and weaknesses for properties based on financial information
- Determines DSCR and LTV
Qualifications for commercial loan servicing
- Manage daily activity of loan booking and servicing associates, ensuring SLAs are met/exceeded
- Coordinate with senior leadership and other managers/cross functional teams to ensure appropriate alignment of policies, procedures and controls compliance
- Ensure policies and procedures are maintained and in alignment with guidance from Global Finance/Accounting, Credit Policy, SOX and other compliance/regulatory measures
- Coordinate and process loan trading activity, including settlement coordination, obtaining required consents, and updating/maintaining the loan register
- Perform and/or oversee ongoing improvements related to loan metrics and tracking, cash break reconciliation, remediation efforts and system changes/enhancements
- Have strong understanding of credit agreements, assignments, and other loan documentation to ensure system and processing accuracy and internal and external compliance, such as addressing escalations and lender inquiries
4
Commercial Loan Servicing Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of commercial loan servicing. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for commercial loan servicing
- Reviews original loan write-ups, prior rent roll statements and operating history
- Evaluates historical data with current income producing documentation
- Analyzes lease agreements
- Analyzes market conditions
- Evaluates property inspections
- Communicates with mortgage bankers and borrowers via email and the telephone
- Updates portfolio analysis reports and processes
- Enters financial data on master spreadsheet and into loan servicing records management system
- Moves electronic documents to electronic loan folders
- Administer Payoff’s
Qualifications for commercial loan servicing
- Serve as liaison for both internal and external stakeholders by responding, resolving, and expediting inquiries, discrepancies, and special requests
- Prepare and submit periodic (daily and above) departmental and team reports and metrics
- Establish and maintain Customer Satisfaction as the singular priority
- 5 years loan servicing/syndication experience with increasing responsibility
- 5 years of Primary and secondary loan trading experience
- 5 years Systems and market platform experience, particularly ACBS, Loantrak, Clearpar, Intralinks, and Syndtrak
5
Commercial Loan Servicing Job Description
Job Description Example
Our growing company is hiring for a commercial loan servicing. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for commercial loan servicing
- Reviews commercial loan documentation following underwriting guidelines and policies
- Carefully examines commercial loan terms and ensures loan is funded within established time frames
- Performing operational research, validation and control activities for the Syndicated and Corporate Lending loan portfolio (including, but not limited to, research, analysis and reporting of exceptions in the loan system of record, Loan IQ)
- Act as primary customer service contact for assigned portfolio
- Print and mail monthly statements for the direct serviced loan portfolio
- Prepare and distribute monthly ACH file on authorized direct borrower payments
- Ensure that all loan payments are made in a timely manner for all direct serviced loans assigned
- Monitor portfolio payment status and ensure that proper action is taken on delinquent situations
- Monitor suspense accounts and semi-monthly delinquency reports to identify unapplied mortgage payments or refunds to be issued
- Prepare and distribute bank direction letters for direct-serviced Cash Managed Loans
Qualifications for commercial loan servicing
- Knowledge of mainframe processing applications
- Knowledge of technical concepts and terminology
- Knowledge of test planning including test scripts, testing, and documenting test results
- Experience with a structured project management methodology
- Minimum of 3 years' experience in loan servicing processes, commercial preferred
- Prior experience with FDPA requirements and FEMA rules and regulations