Loan Servicing Specialist

First Merchants Brand; Daleville (VA); On-site; USD 42,000 - 62,000; Full time

Benefits offered by this job

Medical, Dental and Vision Insurance

401k

Health Savings Account

Vacation/Sick Time

Paid Holidays

Tuition Reimbursement

Additional Benefits

Job summary

First Merchants Bank is seeking a Loan Servicing Specialist to join our team. This role performs back-office loan operations to ensure timely, accurate processing in line with regulatory requirements and procedures.

You will handle customer inquiries, guide loan processes, and process complex transactions, escrow items, payments, and corrections, while coordinating with Core Processing on system improvements.

Qualifications

• High school diploma or GED required.
• Two years of financial service or related processing experience.
• Experience in customer service preferred.

Responsibilities

• Answer customer inquiries by phone and email with accuracy and timeliness.
• Guide customers on loan processes and procedures.
• Process and review complex transactions to reach resolution with minimal customer impact.
• Review statements, reports, filings, and invoices for accuracy.
• Process loan transactions including payments, payoffs, escrows, and corrections.
• Maintain Core processing system and coordinate with Core Processing on system enhancements.

Skills

Customer service

Financial services

Processing experience

Education

High school diploma or GED

Tools

Outlook

Excel

Word

Job description

Description

First Merchants Bank is seeking a Loan Servicing Specialist to join our team! This position will perform a variety of back-office loan operations functions. Tasks are to be performed in a timely and accurate manner as they are deemed critical in accordance with Regulatory requirements and departmental procedures. The ideal candidate for this position will be flexible with regards to tasks assigned and be willing to learn multiple tasks as needed.

As part of this role you will:

• Respond to customer phone and email inquiries in a professional, thorough, accurate and timely manner.
• Provide guidance as it relates to established loan processes and procedures.
• Process, research, review, and provide feedback of complex transactions to complete resolution and minimal customer impact.
• Review statements, reports, filings, and invoices for accuracy processing corrections as needed.
• Process loan transactions for payments, payoffs, exceptions, reversals, escrows, and corrections, etc.
• Maintain Core processing system as needed.
• Work with Core Processing on system enhancements / corrections/test scenarios and following through to GL.

In addition to the above, individual Specialists will be responsible for one of the following:

Loan Ops – Escrow Specialist

• Perform periodic reconciliations, audits and analysis to ensure accuracy and compliance.
• Process disbursements of property taxes and insurance; ensure timely payment of taxes to counties throughout our footprint for escrowed accounts.
• Be a liaison for the department with vendors as needed.

Loan Ops – Support Specialist

• Provide detailed explanation of escrow analysis statements for the Call Center and Retail personnel.
• Prepare and/or verify payoff quotes for consumer and commercial loans ensuring proper authorization is provided.
• Complete credit references ensuring proper authorization is provided.
• Respond to correspondence regarding erroneous credit bureau reporting – by letter or by correcting via E-Oscar or on Core.

Loan Ops – Collateral Specialist

• Create, modify, amend, and cancel UCCs with the state as needed.
• Monitor and assign to team mates emails received in the team email box.
• Research and fulfill complex collateral requests ensuring lien perfection as needed.
• Research and fulfill collateral release requests for acquired loans.
• Participate in special projects as assigned from Assistant Manager.
• Cross trained on every research related job function.

Loan Ops – Impaired Loans Specialist

• Provide guidance with regards to accounting requirements specific to impaired loans.
• Provide guidance on needed entries for properties moving into OREO.
• Must have a working concept of partial and full charge offs and recovery of charged off loans.
• Provide guidance as it relates to established impaired loan processes and procedures.

In order to be successful in this position, we require the following:

• High school diploma or equivalent (GED).
• Two (2) years of financial service, customer service, or related processing experience.

The following would be a plus:

• Prior banking experience
• Experience with Microsoft Outlook, Excel, and Word

First Merchants offers the following:

• Medical, Dental and Vision Insurance
• 401k
• Health Savings and Flexible Spending Accounts
• Vacation/Sick Time
• Paid Holidays
• Tuition Reimbursement
• Additional Benefits

A little about us:

First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.

Our Vision is:

To enhance the financial wellness of the diverse communities we serve.

Our Mission is:

To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.

Our Team:

\"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging.\"

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.