Commercial Loan Servicing Specialist

Eagle Bank; Peabody (MA); On-site; USD 60,000 - 86,000; Full time

Job summary

Eagle Bank in Peabody, MA is seeking a Commercial Loan Servicing Specialist to support all aspects of commercial loan servicing, ensure accurate loan setup in the servicing system, and maintain data integrity across a diverse portfolio.

Key duties include processing payments and payoffs, reviewing post‑closing documents, generating reports, handling inquiries, and coordinating with attorneys and other departments to stay compliant with regulatory requirements.

Qualifications

• High School Diploma required; Associate’s degree preferred.
• Minimum five years’ loan servicing experience required.
• Commercial lending knowledge preferred.
• Fluent reading/writing/speaking English is required.

Responsibilities

• Generates and reviews commercial loan servicing reports.
• Conducts ongoing analysis of commercial loan portfolio data for data accuracy and consistency.
• Verifies loans and lines of credit in the core system and ensures data integrity.
• Accurately processes loan transactions, including payments, payoffs, and disbursements.
• Responds to inquiries from internal/external customers and other departments with accurate follow-up.
• Administrates and monitors continuations/terminations of UCCs and prepares related documents.

Skills

Attention to detail

Organizational skills

Communication skills

Analytical thinking

Education

High School Diploma

Associate’s degree or equivalent

Tools

MS Office

Loan management system

Job description

Commercial Loan Servicing Specialist (Full time) Peabody

Summary: Provides support for all Commercial loan servicing. Required to make loan level and account-based decisions to meet customer need and ensure compliance to all Federal, State and Local regulations. Responsible for quality control and system review of all commercial loans, ensuring accuracy that all loans are processed and documented in accordance with established policies and procedures.

• Generates and reviews commercial loan servicing related department reports, utilizing both expertise and discretion to collect, analyze and report on commercial loan data as appropriate.
• Conducts ongoing review and analysis of commercial loan portfolio data to identify opportunities for improvements in data accuracy and consistency.
• Recommends policy, procedural and automation enhancements to promote productivity and control.
• Receives and organizes loan file documents from commercial production and closing attorney.
• Reviews post-closing documents and all compliance related tasks. Requests and tracks missing or inaccurate documents.
• Verifies commercial loans and lines of credit in the core system (including C&I, CRE, Construction, SBA, SWAP etc.); interprets loan documentation and approval memorandums in order to accurately verify the new loan set-up, renewals, modifications, SWAPs, and letters of credit to the servicing system while ensuring data integrity.
• Accurately and efficiently processes variety of loan transactions, including loan payments, loan payoffs, new loan disbursements, construction disbursements, line of credit advances, line of credit paydowns, interest advances, charge offs.
• Responds to all telephone, letter and email inquiries from internal/external customers and various other departments, ensuring courteous, accurate and thorough follow-up.
• Manages and prepares commercial pay-off quotes, discharges of commercial mortgages, partial releases and other related collateral releases.
• Performs account reconciliations as needed. Uses discretion to evaluate and audit accounts and processes involving monetary transactions, utilizing both judgement and expertise to address anomalies.
• Reviews and submits monthly SBA reporting.
• Administers and monitors the continuations and terminations of UCCs.
• Performs clerical operational tasks for various Commercial Loan Servicing processes.
• Maintains and updates the annual record retention of any and all commercial paid loan documentation.
• Reviews and remits all SWAP and Participation reports/funds to appropriate participant banks to ensure compliance with all agreed upon terms as they relate to loan servicing, report timing, etc.
• Monitors upcoming conversions (interest only to principal and interest) and make necessary system changes.
• Administers the loan modification and extension process and make necessary system changes.
• Interfaces with other departments as needed; as well as third party vendors/service providers.
• Assists with the preparation of commercial loan files for upcoming audits, exams and other third-party reviews.
• Attend seminars, webinars and in-house training as needed to keep up with regulations and changes.
• Assists management with special projects, as needed.
• High School Diploma required; Associate’s degree level of education or equivalent preferred.
• Minimum five years’ loan servicing experience required. Commercial lending knowledge preferred.
• Ability to fluently read, write, speak, and understand the English language required.
• Attention to detail, organizational and communication skills required.
• Ability to adapt to changes in the work environment, manage competing demands and deal with frequent change, stress and/or unexpected events.
• Proficient use of computers and technology required (i.e. Internet, PCs, MS Office, etc.). Experience with a loan/mortgage operations system preferred.

Position specific requirements

• High School Diploma required; Associate’s degree level of education or equivalent preferred.
• Minimum five years’ loan servicing experience required. Commercial lending knowledge preferred.
• Ability to fluently read, write, speak, and understand the English language required.
• Attention to detail, organizational and communication skills required.
• Ability to adapt to changes in the work environment, manage competing demands and deal with frequent change, stress and/or unexpected events.
• Proficient use of computers and technology required (i.e. Internet, PCs, MS Office, etc.). Experience with a loan/mortgage operations system preferred.