Loan Servicing Assistant

Olympia-Federal-Savings-; Olympia (WA); On-site; USD 42,000 - 55,000; Full time

Benefits offered by this job

Medical, dental, vision

Life insurance & AD&D

Long-term disability

401k with 5% match

Profit sharing

Paid time off

Holiday and wellness hours

Volunteer hours

Job summary

Olympia Federal Savings is seeking a Loan Servicing Assistant to onboard all loan types, perform SBA reporting, and update core systems. The role supports annual escrow analyses, tax payments, and monitoring construction loans, ensuring accuracy and compliance with policy.

Responsibilities include processing payments, maintaining records, and handling modifications and extensions. Strong banking knowledge, confidentiality, and communication skills are essential.

Qualifications

• Excellent public and customer relations skills to effectively communicate with internal and external customers.
• Thorough understanding of banking regulations and Association policies and procedures.
• Organizational skills and ability to prioritize fluctuating workload.
• Analytical techniques and independent judgment to identify solutions.
• Ability to maintain confidentiality and exercise discretion.

Responsibilities

• Set up new loans in database systems.
• Complete the SBA processing for timely monthly reporting and remittance.
• Process and reconcile monthly purchased loan payments.
• Monitor UCC filings and balance general ledger.
• Maintain the core system related to loans and loan boarding interface.
• Process mortgage payments and loan payment corrections.
• Monitor construction loans in process and escrow analyses.

Skills

Public relations

Banking regulations knowledge

Organizational skills

Analytical thinking

Confidentiality

Communication skills

Computer proficiency

Education

High school diploma or GED

Tools

BUILT system

NWCC invoicing system

Job description

Description

OlyFed employees love the places we work and the communities we serve. In addition to a generous benefit package and opportunities for career growth, OlyFed employees are able to boast about working for an organization with a positive reputation and a proven commitment to our communities.

OlyFed prides itself on a history of personal, high-quality service to our customers and community. The spirit of giving is built into our charter and culture. Each year OlyFed dedicates 5-15% of its revenues to community support. In addition to corporate financial contributions, our employees extend the policy of community involvement by donating their time and talents.

The Loan Servicing Assistant is responsible for boarding all types of Association loans, SBA reporting, completing updates to core system, assisting the annual escrow account analysis and semi-annual tax payments, as well as assisting with monitoring construction loans-in-process, payoffs and modifications.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Set up new loans in database systems.
• Complete the SBA processing for timely monthly reporting and remittance.
• Process and reconcile monthly purchased loan payments.
• Monitor UCC filings and balance general ledger.
• Maintain the core system as it relates to loans and loan boarding interface.
• Payoffs and mortgage quotes, consumer and commercial/business loans in accordance with Association policy/procedure guidelines, and state and federal regulatory guidelines.
• Modification requests including submission of construction loan extensions and escrow enhancements, calculating loan terms, preparing documentation, inputting information into the core system, scheduling customer signing appointments, and filing documentation.
• Monitor exceptions, balloon payments, and maturity reports, and other tracking logs.
• Annual escrow analysis and semi-annual tax payments.
• Process mortgage payments and loan payment corrections.
• Process and complete agreements and updates for SCRA requests.
• Monitor all loans-in-process accounts and stay up to date on progress of construction loans.
• Disburse draw checks, monitor percentage of completion, order progress inspections, and process rollovers and extensions monthly.
• Monitor and input information to keep accurate records of contractors, sub-contractors, and suppliers for 1099 NEC reporting to meet Internal Revenue Service reporting requirements.
• Build and balance new construction projects within the BUILT system.
• Receive, verify, and approve BUILT and NWCC invoices.
• Assist with loan servicing departmental projects and other duties as assigned.

Requirements

KNOWLEDGE, SKILLS, AND ABILITY REQUIREMENTS:

• Excellent public and customer relations skills to effectively communicate with internal and external customers, determine needs, and maintain confidence and goodwill.
• Thorough understanding of banking regulations and Association policies and procedures with demonstrated ability to interpret and apply policies and regulations quickly and independently.
• Organizational skills and composure. Flexibility and adaptability to prioritize a fluctuating workload in a customer-driven environment.
• Utilize analytical techniques and exercise independent judgment to identify strategies to solve problems and complex customer needs.
• Exercise customer confidentiality and discretionary judgment.
• Exceptional written and verbal communication skills including the ability to clearly communicate and explain complex banking, lending and legal regulations and documents.
• Proficiency in basic computer programs with ability to learn new software.
• Read, write, speak, and understand English well. Perform basic calculations.

QUALIFICATIONS:

• High school diploma, GED, or equivalent skills and training.
• Customer service experience.
• Loan origination or servicing of real estate loan experience preferred.
• Must be bondable.

PHYSICAL DEMANDS & WORK ENVIRONMENT/CONDITIONS:

Duties are performed in usual office conditions. Ability to operate standard office equipment including personal computer, standard keyboard, 10-key calculator and work a standard shift with repetitive wrist and hand movements. Ability to talk and hear. Ability to stand or sit for extended periods of time. Occasionally lift, move, or carry items up to 15 lbs. Ability to concentrate on the matter at hand, under sometimes distracting work conditions. Requires manual dexterity and handling ability. Use hands and arms to finger, handle, grab and reach. Specific vision abilities including close vision and the ability to adjust focus. Work may involve eyestrain due to constant use of computer screens. Occasional walking, kneeling, stooping, crouching, and bending. Ability to be mobile office-wide for various business needs.

Employees are covered by medical, dental, vision, basic life insurance and long-term disability. Voluntary benefit coverage includes life insurance, AD&D, legal, accident, critical illness, hospital indemnity, and FSA. Options for family coverage are available. Employees can enroll in our company’s 401k plan. We offer immediately vested 5% 401k match, as well as profit sharing. Employees are eligible for annual incentive bonus. Full-time employees will receive the following paid time off per month: 6.67 hours of vacation leave and 8 hours of sick leave. In addition, the following paid time off per year: 11 paid holidays, a float holiday, a birthday holiday, 24 wellness hours, 16 volunteer hours. Modified for part-time employees.

Olympia Federal Savings is an Equal Opportunity Employer and affirmative action employer. EOE AA M/F/Vet/Disability: EEOC Legal Poster

If you require a reasonable accommodation to complete the application process, please contact Human Resources at 360-754-3400.