Job Description

The Loan Servicing Specialist is responsible for the ongoing administration of the bank’s loan portfolio, with a primary focus on managing insurance tracking and escrow accounts. This role ensures loans remain compliant with regulatory requirements and internal policies by maintaining accurate escrow balances, processing tax and insurance disbursements, and monitoring collateral insurance coverage.

Duties and Responsibilities

• Call or email insurance companies daily to provide renewed policies or invoices to pay insurances.
• Reviews and verifies adequacy of insurance coverage (included but not limited to Flood, Hazard, Windstorm) and compliance with established policy and regulatory requirements during life of loan.
• Monitor and track insurance policies for existing loans and ensure ticklers are updated in FIS HORIZON system, maintaining ongoing insurance and tax records on all collateral.
• Check folio numbers on various county websites to ensure the status of real estate property taxes; follow up and prepare delinquent taxes report.
• Input on LERETA Tax Services’ website the new loan with the collateral property and cancel contracts for loans paid off. Monitor Lereta reports and resolves Inadequate Legal Descriptions.
• Reviews daily Loan System reports on upcoming escrow disbursements and exceptions and takes appropriate action.
• Monitors and generates escrow analysis and annual statements. Validates accuracy of the escrow analysis that was generated. Ensures compliance with policy, procedures and regulatory requirements surrounding escrow.
• Issue checks or ACH payments for Insurance and Property Tax payments. Issue checks for Escrow surplus.
• Administers construction loans, which includes but is not limited to draw requests, partial lien releases, title updates, final waivers, certificate of occupancy, etc.
• Maintains detailed funding records for each construction loan making sure that each draw is properly funded within the loans approved guidelines.
• Monitors construction draws and disbursements, maintaining accurate records in the loan servicing system.
• Scans and files documents in the bank’s imaging system as related to loan servicing tasks performed.
• Perform daily balancing of Loan General Ledger accounts and internal checking accounts.
• Monitor group email box regarding transaction requests and inquiries. Performs research and resolves loan issues.
• Crosstrain in areas within Loan Servicing to provide support during changes in volume.
• Provide assistance to the SVP Loan Administration with additional duties as assigned.
• Completes compliance training, adhering to all anti-money laundering guidelines & procedures, and all regulatory requirements.

Job Requirements

1. High School diploma or high school equivalent diploma is required.
2. 2-5 years of working bank operations experience. Experience in Loan Escrow and Insurance Servicing a plus.
3. Proficient in English and bilingual in Spanish a plus.
4. Must understand the legislative and regulatory process and maintain a proficient knowledge of specific regulations through self-development and formal training.
5. Must have strong organizational and planning skills with the ability to recover from and adjust to change.
6. Must possess strong verbal/written communication skills.
7. Ability to multitask issues and projects while maintaining composure when working under pressure or stress and meet deadlines.
8. Proficient knowledge of Microsoft Office products with ability to operate a computer terminal.
9. Must represent the Bank with a high level of integrity while supporting management decisions and goals in a professional manner.
10. Must be self-motivated with a proven ability to reach goals or perform tasks with little supervision or direction.