Loan Servicing Specialist

  • location: Lake Forest, CA
  • type: Permanent
  • salary: $46,000 - $48,000 per year
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job description

Loan Servicing Specialist

job summary:
Loan Servicing Specialist


Works under the general direction of the Loan Servicing Manager. Performs duties related to serving the Commercial loan portfolios.


The requirements listed below are representative of the knowledge, skills, and/or abilities required for this position.

location: Lake Forest, California
job type: Permanent
salary: $46,000 - 48,000 per year
work hours: 8 to 5
education: High School
experience: 2 Years

  • Meet and exceed customer satisfaction through the successful resolution of customer concerns
  • Process boarding of loans including adding ticklers and ensure receipt of trailing documents, loan payments, incoming wires, payoffs and advances if applicable, credit ratings, prepayments, and reconveyances
  • Review loan documentation for accuracy and completeness; using written procedures
  • Review original document in collateral file for accuracy and coordinate with funding department for any missing items or documents that needed to be revised
  • Review and disburse funds when draw requests are received for construction loans
  • Prepare Change in Terms documents in Laser Pro as necessary
  • Prepare and process demands, payoffs and reconveyances as necessary
  • Prepare and mail payment billings and other correspondence as required
  • Assist Loan Administrators, Credit officers and Accounting Department to resolve inquiries relating to loans
  • Maintain originals and collateral loan files for original recorded documents, insurance coverage and financial information
  • Work closely with vendor to resolve any system issues with regards to efficiently and accurately servicing of the loans using the loan servicing system
  • Work closely with internal and external customers and agents to ensure proper property and liability insurance is received and maintained
  • Schedule annual property inspections and compile documentation for Asset Review Committee
  • Generate and prepare FHLB report and Bond Pledge Monitoring report on a monthly basis
  • Work with investors and accounting with any questions regarding monthly reports
  • Prepare FHLB & Final Bond package as well as assignment of deed when pledging loans as necessary
  • Prepare & record documentation needed in order to de-pledge loans as necessary
  • Send original documents to investors as necessary
  • Generate loan portfolio reporting on a monthly and ad-hoc basis
  • Process participation portions on a monthly basis
  • Work with NMTC compliance department in resolving any issues concerning payment due and unwinds.
  • Manage collection calls for delinquent borrowers, provide management with timely and accurate reporting of collections on past due loans
  • Review past due and matured loan reports to identify potential delinquencies
  • Provide documentation requested by auditor.
  • Participate in accurate and timely month-end closings
  • Coordinate with Loan Servicing Manager to develop collection (work-out) plans for specific delinquent loans to minimize loan losses
  • Create written procedures to be used within the department for training purposes
  • Direct the preparation of formal letters of default sent to borrowers/guarantors
  • Create and distribute 1098's annually and submit file to IRS on a timely manner
  • Attend training and maintain knowledge of procedures to ensure compliance with laws and regulations
  • Maintain confidentiality of all corporate and borrower matters
  • Set up and maintain ACH accounts in First Bank on a monthly basis
  • Perform other duties as assigned or required.
Knowledge, Skills & Competencies:

  • Thorough knowledge of MS Word, MS Excel, MS Outlook. Experience with loan database software is preferred.
  • Work history of handling multiple tasks simultaneously;
  • Exceptional organizational skills required;
  • Ability to meet designated deadlines is also a critical qualification.
  • Must be able to maintain the highest level of confidentiality
  • Ability to handle sensitive material concerning the Company and our borrowers.
  • Excellent verbal and written communication skills.
  • Ability to prioritize duties and work independently while remaining flexible to changing assignments.
  • Prior loan servicing experience preferred.

High School Diploma

skills: Loan Administration, Loan Review
Equal Opportunity Employer: Race, Color, Religion, Sex, Sexual Orientation, Gender Identity, National Origin, Age, Genetic Information, Disability, Protected Veteran Status, or any other legally protected group status.

Qualified applicants in San Francisco with criminal histories will be considered for employment in accordance with the San Francisco Fair Chance Ordinance.

We will consider for employment all qualified Applicants, including those with criminal histories, in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles' Fair Chance Initiative for Hiring Ordinance.

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