Loan Servicing Specialist

THE FARMERS BANK OF WILLARDS; Parkview (MD); Hybrid; USD 38,000 - 44,000; Full time

Benefits offered by this job

Health insurance

Retirement plans

Bonuses

Paid time off

Job summary

The Farmers Bank of Willards is seeking a Loan Servicing Specialist I in Willards, MD. This entry-level role supports post-closing loan processing, servicing setup, record maintenance, and customer follow-up to ensure accurate data entry, regulatory compliance, and a high-quality customer experience.

Ideal candidates are detail-oriented, enjoy team collaboration, and are dedicated to serving the local community through reliable bank servicing operations.

Qualifications

• High school diploma or equivalent required.
• 0-1 year of banking, finance, or administrative support experience.
• Loan servicing or operations experience is helpful but not required.

Responsibilities

• Enter new loans into the core banking/servicing system
• Validate loan data including borrower information, rates, payment schedules, escrow
• Review closed loan packages for completeness and accuracy per bank policies
• Process daily loan payments and apply them to customer accounts
• Monitor and update insurance records for secured loans
• Proactively contact customers after loan closing to ensure satisfaction

Skills

Attention to detail

Communication

Organizational skills

Customer service mindset

Data entry

Multitask / prioritization

Education

High school diploma or equivalent

Tools

Microsoft Office

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Loan Servicing Specialist

Full Time Clerical Willards, MD, US

9 days ago Requisition ID: 1007

Salary Range: $38,000.00 To $44,000.00 Annually

Job Title: Loan Servicing Specialist I

Location: Willards, Maryland

Reports To: AVP Loan Administration

Position Type: Full-Time

Job Summary:

The Loan Servicing Specialist I is an entry-level lending operations professional responsible for supporting post-closing loan processing, loan boarding, servicing setup, record maintenance, and customer follow-up activities. This position ensures accurate loan data entry, proper documentation, regulatory compliance, and a high-quality customer experience following loan closing.

This role is ideal for a detail-oriented individual who enjoys working in a team environment while supporting the financial needs of the local community.

Key Responsibilities:

Loan Boarding & Post-Closing Review:

• Enter new loans into the core banking/servicing system
• Validate loan data including borrower information, interest rates, payment schedules, escrow setup, and collateral records
• Review closed loan packages for completeness and accuracy in accordance with bank policies and regulatory requirements
• Perform final data entry into the core processing system, including loan terms, escrow accounts, payment schedules, and collateral records
• Reconcile loan setup with the general ledger and confirm proper disbursement of funds
• Ensure documents are properly labeled and indexed within the electronic document management system
• Process and file necessary titles and liens with appropriate government agencies

Loan Servicing Support:

• Process daily loan payments and apply them accurately to customer accounts
• Process loan payoffs, modifications, renewals, and maintenance requests
• Handle routine account maintenance including address updates, due date changes, and system corrections
• Assist in generating payoff statements and verifying balances
• Maintain accurate loan records within servicing systems
• Respond to borrower inquiries regarding loan terms, balances, and servicing issues
• Collaborate with internal departments to resolve servicing issues

Insurance & Collateral Tracking:

• Monitor and update insurance records for secured loans (homeowners, flood, auto, etc.)
• Follow up with borrowers or agents for missing or expired insurance documentation
• Ensure insurance coverage meets bank policies and regulatory standards
• Coordinate with force-placed insurance providers when necessary

Post-Closing Customer Experience & Relationship Development:

• Proactively contact customers following loan closing to ensure satisfaction with the loan process
• Confirm customers understand payment terms, servicing procedures, and account access options
• Identify opportunities to assist customers with additional banking services including deposit accounts, online/mobile banking, treasury services, or future lending needs
• Relay customer feedback and service opportunities to loan officers or appropriate departments
• Promote a positive, relationship-focused experience aligned with the Bank’s community banking mission

Compliance & Operational Standards:

• Learn and follow servicing procedures, regulatory guidelines, and internal compliance standards
• Maintain confidentiality of borrower and bank information
• Support audit requests and quality control reviews as assigned
• Assist with special projects and departmental initiatives

Education & Experience:

• High school diploma or equivalent required
• 0-1 year of experience in banking, finance, or administrative support (loan experience preferred)
• Prior exposure to loan servicing or operations is helpful but not required

Knowledge & Skills:

• Strong attention to detail and organizational skills
• Excellent communication and follow-up abilities
• Customer service mindset and team-oriented approach
• Ability to handle confidential information with discretion
• Proficiency in data entry and Microsoft Office (Word, Excel)
• Ability to multitask and prioritize in a fast-paced environment
• This role is typically performed in a corporate office environment, with the option to work remotely.
• May require occasional travel to other branches or locations.
• The role may involve extended hours during peak periods or special projects.

Salary and Benefits:

• Competitive salary based on experience and qualifications.
• Comprehensive benefits package including health insurance, retirement plans, bonuses, and paid time off.