Loan Servicing Specialist I - Collateral

First United Bank; Durant (OK); On-site; USD 36,000 - 48,000; Full time

Job summary

First United Bank in Durant, OK, is seeking a Loan Servicing Specialist I - Collateral to manage daily escrow-related activities, including taxes and insurance documentation, premium changes, and renewals, ensuring records are accurate and compliant with bank policies.

The role covers escrow analysis, disbursements, and support for staff and clients on escrow accounts, changes, and payment adjustments, plus collateral management tasks such as insurance tracking, document imaging, and tax

Qualifications

• High school diploma or GED required.
• Minimum one year working experience in the loan area of a banking institution.
• Good understanding of financial institution products and services.

Responsibilities

• Process escrow-related property taxes and insurance documentation and payment updates, including premium changes, cancellation notices, renewals, and reinstatements, ensuring records are maintained in the appropriate customer file.
• Ensure escrow analysis accuracy, completeness, and required supporting documentation.
• Review and process escrow disbursements, including property taxes and insurance premium payments, refunds, surpluses, and follow-up exceptions as applicable.
• Support Community Bank staff or bank clients related to escrow accounts, escrow analysis, property taxes and insurance premium changes, and payment adjustments.
• Research, resolve, or elevate escrow exceptions, discrepancies, and documentation issues to ensure timely and accurate servicing of loan accounts.

Skills

Escrow knowledge

Escrow analysis

Customer service

Organization

Communication

Education

High school diploma or GED

Tools

Spreadsheet

Word processing

Job description

Join Our Team!

We have a great team of friendly, talented and inspiring people at First United. As a learning organization, we take pride in offering exciting opportunities for employees to grow and follow their passions. That’s one of the many reasons First United has been voted as one of the top places to work in Oklahoma since 2009! Browse this page to find out more about the First United culture and the many benefits of working here. Then, use our “Get Started” section to take your first step to being a part of First United.

The Position

Job Title

Loan Servicing Specialist I - Collateral

Job Description

SUMMARY

This position generally focuses on daily processing activities related to ensuring escrow servicing, collateral insurance coverage and property tax servicing, and in accordance with First United policies and practices.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

• Process escrow-related property taxes and insurance documentation and payment updates, including premium changes, cancellation notices, renewals, and reinstatements, ensuring records are maintained in the appropriate customer file.
• Ensure escrow analysis accuracy, completeness, and required supporting documentation.
• Review and process escrow disbursements, including property taxes and insurance premium payments, refunds, surpluses, and follow-up exceptions as applicable.
• Support Community Bank staff or bank clients related to escrow accounts, escrow analysis, property taxes and insurance premium changes, and payment adjustments.
• Research, resolve, or elevate escrow exceptions, discrepancies, and documentation issues to ensure timely and accurate servicing of loan accounts.

ADDITIONAL COLLATERAL MANAGEMENT RESPONSIBILITIES

In addition, this position supports the broader responsibilities of the Collateral Management team, including ensuring collateral insurance accuracy, collateral recordkeeping, document imaging and exception tracking, and tax servicing support.

• Process insurance mail each day to image new, renewal and cancellation insurance notices to the correct customer file.
• Assist with force place insurance payments and refunds.
• Maintain Original document retention.
• Maintain loan document tracking and exceptions.
• Assist with paid loans and collateral release processes.
• Monitor and ensure proper property tax servicing.

ADDITIONAL DUTIES AND RESPONSIBILITIES

• Maintain a professional work environment, including work attire and communication.
• Assist other departments as needed.
• Handle internal customer complaints and communicate issues to supervisor, if needed.
• Recommend possible methods to improve department efficiency to supervisor.
• Complete all required compliance exams on a yearly basis.
• Adhere to all First United Policies and Procedures.
• Other duties as assigned by supervisor.

EMPLOYEE SPECIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Work Experience

• High school diploma or GED required.
• Minimum one year working experience in the loan area of a banking institution
• Good understanding of financial institution products and services.

Technical/Functional Competencies

• Good understanding of escrow accounts, escrow analysis, escrow disbursements, and related loan servicing requirements.

• Good understanding of computer spreadsheet and word processing programs.

• Strong understanding of loans and loan products.

• Ability to complete tasks and projects with little or no supervision.

• Exceptional customer service skills.

• Good problem-solving and decision-making skills.

• Demonstrate good judgment.

• Strong organizational skills.

• Strong interpersonal skills and ability to work well with a wide range of people.

• Ability to communicate well with internal customers by all means of communication including written, verbal, and non-verbal communication.

• Willingness to accept additional responsibilities

• Dependable and adheres to timelines and schedules.

• Takes initiative in development and completion of projects.

NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.

#LI-BR1

All Locations:

Durant-Corporate

If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at [e-mail] for assistance.

First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law.