Loan Servicing Specialist Job Description
Loan servicing specialist
provides complex administrative and project support to management using advanced MS Office skills (Word, Excel.
Loan Servicing Specialist Duties & Responsibilities
To write an effective loan servicing specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included loan servicing specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
Perform tasks associated with member requests
Books SBA Loans
Processes all payments, disbursements, miscellaneous fees and creates necessary GL ticket entries
Processes all servicing actions and payoffs, including notifying Colson
Mails billing statements for all SBA loans
Processes disbursements after reviewing for validity
Tracks disbursement periods, contacts customers regarding expiration dates, requests outstanding necessary documents per disbursement checklist and loan file review exception list
Prepares any necessary stamp actions to extend disbursement period, move funds
Prepares all documents for 504 debenture sale
Runs and distributes SBA reports on a weekly/monthly basis
Loan Servicing Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Loan Servicing Specialist
List any licenses or certifications required by the position: GL
Education for Loan Servicing Specialist
Typically a job would require a certain level of education.
Employers hiring for the loan servicing specialist job most commonly would prefer for their future employee to have a relevant degree such as Associate and High School Degree in Education, Accounting, Finance, Associates, Business, Business/Administration, Financial Services, General Education, Technical, Communication
Skills for Loan Servicing Specialist
Desired skills for loan servicing specialist include:
Department computer applications and systems
MS Word
MS Excel & Outlook
Microsoft Office Suite
Federal and state regulatory requirements
Microsoft Excel & Word
Retail and Commercial loan documentation requirements
Equity Product
CLO
AFS
Desired experience for loan servicing specialist includes:
Inputs data from DARs to spreadsheet and to monthly affiliate settlement sheet
Prepares and remits weekly and monthly 1502 report and settle with Colson and participants
Prepares and updates month-end short list
Prepares and distributes monthly settlement sheets and settles with affiliates
Excellent verbal and written communication skills including ability to interact positively with a wide variety of individuals, including senior officers
Ability to gather information from multiple sources in order to gain a thorough understanding of problems
Loan Servicing Specialist Examples
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Loan Servicing Specialist Job Description
Job Description Example
Our growing company is looking to fill the role of loan servicing specialist. 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 loan servicing specialist
- Mentor, train and develop service transfer team members in all service transfer out and in activities
- Perform related loan processing duties that may extend to other departments within Lending Services
- Reviews department procedures to ensure compliance of all department regulations
- Updates procedures and train associates on changes to processes
- May coordinate with Compliance and Internal Audit during department exams
- Prepares department specific training material regarding department regulation and conducts training classes with associates
- Coordinates all regulatory and compliance documents for a business unit
- Researches regulations
- Compiles information and updates business unit of changes in process
- Participate and assist with service release transfer tasks such as scheduling transfer activities, tagging loans in MSP, holding meetings with transferee or transferor servicer, ordering transfer reports, overseeing checklists to ensure all transfer activities are accomplished, provide required data to transferee or transferor servicer
Qualifications for loan servicing specialist
- Strong/demonstrated decision making, analytical and problem solving skills, technical aptitude
- High School Diploma, GED or Foreign Equivalent Required
- Bachelor’s degree preferred in Business Administration or Accounting or Information Systems
- 3 years - Experience with a mortgage loan servicing system and working knowledge of mortgage loan closing documents
- 3 years - Experience in mortgage servicing and/or originations or post-closing, with working knowledge of service transfers both outgoing and incoming
- 1 years – team lead or training/mentoring role where direction and training was provided to other team members
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Loan Servicing Specialist Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of loan servicing specialist. 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 loan servicing specialist
- Process and respond to escalated or more complex loan problems received in New Loan or Service Transfer areas - exercise problem solving methodology to arrive at root cause and enact full corrective actions, including updating policies and procedures when applicable and ensuring team members are educated and trained in the corrective process
- Assists in maintaining insurance policies, including general liability, workers compensation, builders risk, flood and course of construction
- Works with insurance policies and related reports
- Inputs new loans into servicing system
- May process payments
- May process HELOC advances
- Fulfill customer's request for information
- May process credit bureau dispute
- Process loan maintenance changes
- Names loan files in bank’s imaging system to match IBS system
Qualifications for loan servicing specialist
- Ability to work effectively in a fast paced environment, adapt readily to change and move with ease from one task to another
- Ability to quickly retain knowledge of process steps for a multiple number of different daily tasks
- Ability to lead meetings and speak to small groups and communicate moderate to complex subject matter effectively
- Must be detail oriented, accurate, with ability to spot opportunities for process improvement
- Must have prior leadership and mentoring role experience – ability to train others
- Superior and proficient computer skills, including
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Loan Servicing Specialist Job Description
Job Description Example
Our company is growing rapidly and is hiring for a loan servicing specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for loan servicing specialist
- Perform price reset for Commercial and Syndication/Participation loans that have price option
- Book Letter of Credit transactions based on the data from International Operation
- Process incoming and outgoing wires which includes loan level accounting
- Perform periodic review of loan tickler report and process or update loan system to ensure accuracy
- Process non-monetary loan transactions
- Research and analyze problems and provide resolutions in a timely manner
- Process transactions for special assets loans, such as non-accrual, delinquent, charged-off loans including shadow side accounting
- Process forbearance and settlement agreement
- Reconcile general ledger and call back daily work
- Assists in special projects and other job duties as assigned
Qualifications for loan servicing specialist
- Use of dual monitors, working with several applications at one time, ability to type a minimum of 35 wpm with accuracy
- A working knowledge of Microsoft Word and Excel – ability to work with Excel spreadsheets including sort and filter data functions
- A working knowledge of Lotus Notes and/or Outlook
- Qualified applicants may be required to successfully complete a Microsoft Excel and Word skills test
- Five years compliance experience
- Ability to learn regulations impacting a specific line of business
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Loan Servicing Specialist Job Description
Job Description Example
Our company is growing rapidly and is hiring for a loan servicing specialist. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for loan servicing specialist
- Review disclosures prepared by LO’s for accuracy
- Accurately and efficiently process financial and non-financial transactions and post to loan accounts
- Work with external attorneys
- Perform manual research of payment allocations, delinquency, and miscellaneous requests
- Calculate, finalize and distribute account refunds
- Communication with business partners
- Maintain log of flood requests
- Monitors quality of loan boarding, file maintenance, and other direct input to core and other systems by performing daily callback
- Participate in achievement of Service Level Standards, risk management, quality control, and adherence to policy and procedure
- Offer support where assistance is needed
Qualifications for loan servicing specialist
- Excellent organization skills, good analytical and math skills
- 2 years - Experience with a mortgage loan servicing system and working knowledge of mortgage loan closing documents, and specifically those related to servicing
- A working knowledge of Microsoft Word and Excel – intermediate Excel including ability to work with Excel spreadsheets, sort and filter data functions
- Working knowledge of Lotus Notes and/or Outlook
- Qualified applicants may be required to complete a Microsoft Excel and Word skills test
- Minimum of 3-5 years mortgage banking experience with a strong understanding of loan servicing
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Loan Servicing Specialist Job Description
Job Description Example
Our innovative and growing company is hiring for a loan servicing specialist. 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 loan servicing specialist
- Opening daily incoming interoffice mail and external mail
- Process monthly charge-back billings and/or reports
- Mail daily customer letters
- Completes basic research and maintenance to customer and loan accounts
- Runs branch capture daily
- Completes miscellaneous reconciliations for outside service providers
- Ensures compliance of applicable government regulations and requirements
- Maintains various spreadsheets to monitor and track loan pay off and loan release activity, and reviews monthly reports for exceptions
- Quotes loan payoff amounts to various entities
- Prepares UCC, discharges and lien releases for both open and closed loans
Qualifications for loan servicing specialist
- Proficient in Microsoft Word and Outlook with a minimum typing speed of 45 WPM
- Knowledge of Mortgage / Bank Lending preferred
- Black Knight Financial Services MSP Servicing system experience preferred
- Ability to lift/maneuver up to 50 pounds occasionally
- Ability to bend, squat, and stoop as needed
- Extended sitting for up to 3 hours at one time