Commercial Loan Servicer

  • Greenstate Credit Union
  • North Liberty, IA 52317, USA
  • Nov 19, 2020
Full time Accounting

Job Description

GreenState Credit Union

Commercial Loan Servicer

US-IA-North Liberty

Job ID: 2
Type: Regular Full-Time
# of Openings: 2
Category: Commercial
GreenState Credit Union

Overview

Responsible for servicing all commercial loans.

Pay range for this hourly position is $16.67 - $25.00, with a progressive benefits package.



Responsibilities

Performs essential duties and responsibilities in the following areas which may include, but are not limited to those listed and are subject to change.

1. Adheres to the Credit Union's core values and Service Standards in carrying out GreenState's mission and vision.

2. Demonstrates a positive member service (internal and external) focus at all times.

3. Demonstrates teamwork in all interactions with coworkers and in the completion of all duties and responsibilities.

4. Plays a vital role in enriching the community by participating in community service organizations and/or Credit Union sponsored events on an annual basis.

5. Ensures confidentiality of member information.

6. Assists in all wire postings and back end file maintenance.

7. Adheres to all state, federal and credit union regulations, policies and guidelines.

8. Develops relationships in the real estate community.

9. Answers the Commercial Servicing direct phone line and email.

10. Assists in year-end completion and mailing of 1098/1099 statements.

11. Coordinates tracking and payment of escrowed insurance coverage. Follows-up on any lapsed or incomplete coverage obtaining current copy of coverage in place.

12. Coordinates tracking and payment of escrowed property taxes twice a year.

13. Assists with the selection, installation (conversions) and maintenance of software products/vendors.

14. Manages monthly mailings to vendors to collect any missing lien waivers and documents accordingly to avoid liens and obtain final title policy

15. Runs the periodic statement file and sending to the statement vendor for production.

16. Coordinates setup and GL posting of all loans.

17. Participates in developing procedures for commercial servicing operations, which include the ongoing support, payoff, tax, insurance and servicing functions.

18. Stays abreast of changes in servicing software, regulations, policies and industry practices to ensure continued compliance.

19. Runs daily and monthly reports as needed.

20. Monitors and adjusts variable rate loan rates, payments, etc., as needed.

21. Assists with processing and maintaining participations accordingly, including coordinating funding/buy backs with participants, monthly transactions, record keeping and reporting.

22. Oversees all escrow accounts including all correspondence with members in regards to their escrows and runs a yearly escrow analysis.

23. Posts commercial payments daily.

24. Researches and corrects payments on loan accounts due to errors in payment application or improper interest rates; backs off payment and makes necessary adjustments; transfers loans to proper account number or note number if error is discovered. Includes any other necessary file maintenance as a result.

25. Prepares releases for mortgages and assignment of rents and coordinates follow up on Mortgage Satisfactions to ensure releases are done in a timely manner.

26. Assists with Participation Loan Sales including file retrieval for review as well as document export, balance updates, and monthly principal and interest reports.



Qualifications

1. High school diploma or equivalent (i.e. GED.) with six months to one year previous related work experience or post-secondary degree in Business, Mathematical Science, or other related field.

2. Reports to work punctually, works all scheduled hours, and works overtime as necessitated by business demand.

3. Interpersonal skills to represent the Credit Union in a positive way during member contact.

4. Ability to provide quality service to members by phone or in person.

5. Ability to develop and maintain effective working relationships with co-workers.

6. Ability to prioritize assignments and organize work efficiently, to handle large volumes of details.

7. Ability to operate related computer applications, an on-line terminal and other standard office equipment such as a calculator and typewriter.

8. Accuracy and attention to detail required.

9. Lending policies and Real Estate knowledge preferred.

10. Escrow experience desired.

11. Must be bondable.


Reporting Relationship
Reports to the Vice President/Commercial Operations.

Supervisory Responsibilities
This position is not responsible for the supervision of other employees.

Equal Opportunity Employment Statement
GreenState Credit Union is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.