Loan Servicing Specialist-Specialized Loans

TruNorth Bank; Holbrook (MA); On-site; USD 64,472,000 - 74,677,000; Full time

Job summary

TruNorth Bank is seeking a Loan Servicing Specialist II– Specialized Loans in Holbrook, MA. You will handle commercial and participation loan boarding, post-boarding reviews, and ongoing servicing tasks while ensuring accuracy and regulatory compliance.

You will input data in the COCC system, process disbursements and payoffs, manage escrow and insurance-related tasks, and support junior staff through training and feedback while maintaining a customer-first approach.

Qualifications

• High school diploma or equivalent required.
• Minimum 3 years related loan operations experience.
• Minimum 2 years directly boarding and servicing commercial and participation loans.
• Thorough knowledge of Bank operations.
• Knowledge of banking laws and mortgage documents.

Responsibilities

• Provide outstanding service to customers and internal staff.
• Process loan documentation for disbursement and board loans in COCC system with accuracy.
• Input loan terms and customer data based on executed documents.
• Process wire transfers and loan payments, advances, payoffs, and related funds.
• Review and monitor boarded loans; maintain compliance with policies and regulations.
• Assist in servicing tasks, respond to inquiries, and escalate complex issues to Management.

Skills

Attention to detail

Bank operations knowledge

Problem-solving

Communication skills

Team coordination

Education

High school diploma or equivalent

Tools

COCC system

Encompass

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.

Holbrook, MA, US

3 days ago Requisition ID: 2182

Salary Range: $22.50 To $26.00 Hourly

Compensation for this position is commensurate with experience. The posted range is intended to provide a general estimate and does not guarantee a specific rate of pay.

PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:

• Responsible for providing outstanding service to our customers and to our internal staff.
• Process all paperwork required for the proper disbursement of loan funds at closing and boards all new and modified Consumer and Residential mortgage loans by inputting all loan, customer, collateral, and tickler data in the COCC system. Data input shall be based on the loan terms set forth in the executed loan documents.
• Accurately processes all monetary transaction, including New Loan Disbursement and related funding transactions, loan payments, advances, paydowns and payoffs.
• Reviews assigned newly boarded loans timely.
• Completes assigned discharges and releases timely.
• Participates in monitoring and tracking receipt of closed loan trailing documents and collateral documents.
• Actively takes Servicing Department calls.
• Prepares loan payoffs or paydowns as requested by title/escrow companies and third-party creditors.
• Replies to customer inquiries received by phone or email.
• Responds to requests for information from branch personnel through general research of items such as note histories, billing problems and payment posting. Escalates complex issues to Management as needed.
• Process incoming and outgoing wires.
• Assists in the Insurance Tracking for all HFG Banks including preparation of Flood Validation packages and related research.
• Accountable to understand and ensure regulatory and policy compliance with state and federal requirements.
• Attends training and maintain a basic knowledge of department procedures to ensure the highest level of customer service and compliance with laws and regulations governing financial institutions, as they apply to position and job responsibilities.
• Uses established protocols and controls to ensure security and privacy is always maintained.
• Assumes responsibility for related duties as required or assigned.
• Exhibits professionalism, empathy, and courtesy in all interactions with customers and coworkers.
• Monitors workload and prioritize projects to ensure tasks are completed timely and accurately.
• Promotes positive culture of continuous improvement with discipline around end-to-end workflow/processes; participate and collaborate in the review and recommendation of operational systems and delivery channels, automate key processes where possible, working with business and technology partners.
• Assigns loans to be boarded daily to Loan Servicing Specialists (CNS and MTG).
• Reviews CNS and MTG loans boarded by other servicers.
• Perform all assigned loan maintenance activities including customer address changes, late charge waivers, automatic payment set-ups/changes, payment adjustments, payment schedule and billing adjustments, interest changes, tickler updates and other coding changes. Prepare demand letters for loan payoffs or paydowns as requested by title/escrow companies and third-party creditors.
• Active Involvement in the development of Junior team members.
• Assigns discharges / releases to be completed to Loan Servicing Specialists.
• Performs second review of Maintenance completed by Loan servicing specialists.
• Reviews discharges completed by Loan servicing specialists for accuracy.
• Performs pre boarding review in Encompass and responsible for Pushing to insight through E-Link.
• Monitors and Tracks completion of tasks assigned (discharges, electronic recordings, loan boardings, Flood Validation packages).
• Processes escrow disbursements for insurance premiums.
• Participate in Special Projects as needed to support merger and acquisition activity.
• Commercial Loan payment and Payoff processing including participation Remittance and Reconciliation.
• Accepts customer calls from the Loan servicing queue.
• Daily Digital Archive report and Verafin report reviews.
• Participates in CML Collateral tracking, processing, and releases, including, UCC tracking and continuations, payoff quotes and collateral releases.
• Performs CML Loan maintenance.
• Participate in Special Projects as needed to support merger and acquisition activity.
• Processes CML Daily, Weekly and Monthly Loan Rate Changes.
• Protects the confidentiality of non-public customer information (NPCI) and the security of our information technology resources. Adhere to the Bank’s Acceptable Use Policy, participate in security awareness training and successfully pass social engineering testing which are designed to provide the education necessary to enable employees to keep the bank secure. Employee awareness and vigilance are required in following these cyber security best practices and are the most effective weapon we have against cyber threats and fraud.

Loan Servicing Specialist II– Specialized Loans - Responsibilities in addition to Loan Servicing Specialist Specialized Loans.

• Ensures new Commercial Loan Boarding and post Boarding reviews are completed accurately and timely.
• Development of junior team members through training, establishment of clear performance goals and providing and constructive feedback. Ownership of individual professional development by participating in internal/external trainings and professional development programs.
• Participates in CML Subpoenas and other legal document requests, including document production, and tracking.
• Performs second review of maintenance completed by Loan Servicing Specialist
• Escrow processing for both Residential and commercial including payment of real estate taxes and insurance premiums on escrowed loans.
• Participate in Special Projects as needed to support merger and acquisition activity.

POSITION REQUIREMENTS:

• High school diploma or equivalent experience.
• Minimum 3 years related loan operations experience.
• Minimum 2 years directly boarding and servicing commercial and participation loans.
• Thorough knowledge of Bank operations.
• Well organized, attention to detail, strong problem-solving skills, able to assist and coordinate activities with others, able to use all related computer applications and business machines.
• Knowledge of Banking laws, policies and procedures, service, and credit products.
• Principles of report preparation.
• Knowledge of loan and mortgage documents and state title requirements Excellent understanding of government regulations and legal requirements involving mortgage and consumer lending.
• Ability to apply logical or scientific thinking to define problems, collect data, establish facts, and draw conclusions.
• Able to interpret a variety of technical instructions and can deal with multiple variables.
• Ability to compute lending calculations including, but no limited to, interest rate changes.
• Able to perform very simple algebra.

OTHER ACCOUNTABILITIES / RESPONSIBILITIES:

The Bank encourages participation in a community development service within the Bank’s assessment area. Community development encompasses affordable housing and community services that target low to moderate income individuals and activities that revitalize or stabilize targeted low to moderate income neighborhoods. Community development services must be related to providing a financial service or use the financial expertise of the bank employee. Examples include:

• Offering accounting skills to a local charitable organization that serves low to moderate income individuals;
• Performing bookkeeping services for low to moderate income seniors;
• Teaching a financial literacy program for low to moderate income school children;
• Fundraising on behalf of a local or state agency that provides services and/or programs targeting low- or moderate-income individuals;
• Activities that revitalize or stabilize low- or moderate-income areas;
• Encourages CRA qualified volunteerism.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

An Affine Action/Equal Opportunity Employer of protected veterans and individuals with disabilities. Applicants for employment are considered without regard to race, creed, color, religion, sex, gender identity, sexual orientation, marital status, genetic information, national origin, age, disability, status as a veteran, Vietnam Era Veteran, or being a member of the Reserves or National Guard. Also, it is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.