Residential Loan Servicing Specialist

Cambridge Savings Bank; Waltham (MA); Hybrid; USD 37,000 - 51,000; Full time

Benefits offered by this job

Healthcare benefits

401(k) plan and match

Performance bonus opportunities

Flexible time off

Parental planning

Mental health benefits

Job summary

Cambridge Savings Bank is seeking a detailed Residential Loan Servicing Specialist to ensure the timely processing of residential and consumer loans from boarding to ongoing servicing.

You will maintain loan records, manage communications with customers and partners via phone, email, and Salesforce, and ensure all case management tickets are responded to and resolved within the required SLA timeframes, with accuracy and excellent service.

Qualifications

• High school diploma required; college degree preferred.
• 3-5 years of banking experience, preferably in loan servicing.
• Excellent communication and customer service skills.
• Experience with Salesforce or similar case management systems preferred.

Responsibilities

• Review newly boarded loans to ensure transfer accuracy from Encompass to subservicer system.
• Book residential and consumer loans promptly to meet SLAs.
• Update loan records with changes to terms, payments, or borrower information.
• Correct loan errors identified by QC within SLAs.
• Collaborate with post-closing to obtain missing documentation for boarding loans.
• Communicate with internal and external customers via phone, email, and Salesforce. Manage and resolve tickets within SLA timeframes.
• Process servicing transactions, including payments adjustments, and account changes.
• Set up and maintain Autopay arrangements per customer requests and bank procedures.
• Balance general ledger accounts related to loan servicing and prepare servicing reports.

Skills

Strong communication

Customer service

Interpersonal skills

Time management

Education

High school diploma

Tools

Salesforce

Job description

Residential Loan Servicing Specialist

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity and inclusion. We are seeking a highly detail-oriented and efficient Residential Loan Servicing Specialist to join our team. The successful candidate will be responsible for ensuring the timely and accurate processing of residential and consumer loans, from boarding to ongoing servicing. This includes ensuring data accuracy, maintaining loan records, managing communication with internal and external customers, and meeting service level agreements (SLAs).

Key Result Areas

• Review newly boarded loans to ensure the accuracy of the transfer from Encompass to the subservicer's system of record. Confirm that all loan data (terms, rates, borrower information, etc.) is correctly transferred and reconciled.
• Book all residential and consumer lending loans into the banking system promptly to meet SLAs.
• Regularly update loan records in the servicing system, ensuring that any changes to loan terms, payments, or borrower information are properly reflected and documented in a timely manner.
• Address and correct any loan errors identified by the QC department promptly, ensuring that issues are resolved within the required SLAs.
• Work closely with the post-closing team to obtain any missing or necessary documentation needed to effectively board loans to the subservicer.
• Communicate with both internal and external customers by phone, email, and Salesforce. Ensure all case management tickets are responded to and resolved within the required SLA timeframes.
• Manage and complete Salesforce cases, researching requests and providing timely follow-up to customers and internal business partners.
• Process residential and consumer loan discharges, ensuring all necessary steps are completed accurately and timely for the proper release of loan obligations.
• Process loan payoffs, ensuring accuracy and efficiency in closing out loan accounts.
• Serve as the backup for loan recasts and assist with recast processing, ensuring proper documentation and compliance with established procedures.
• Process servicing transactions accurately and timely, including maintenance requests, payment adjustments, corrections, and account changes.
• Set up, maintain, and update automatic payment (Autopay) arrangements in accordance with customer requests and bank procedures.
• Process approved late fee waivers and ensure proper documentation and system updates are completed.
• Complete HELOC check verifications and related account maintenance activities.
• Regularly balance general ledger accounts related to loan servicing, ensuring accuracy in financial reporting and transaction processing.
• Prepare and work with daily, weekly, and monthly servicing reports, providing insights and tracking performance against key metrics.
• Perform FDICIA testing as required, ensuring compliance with regulations and operational standards.
• Participate in cross-training opportunities and demonstrate a willingness to learn additional loan servicing functions to support department needs.
• Perform special projects as assigned by the management team, including process improvements and system updates.

Qualifications

• High school diploma required, college degree preferred.
• 3-5 years' banking experience, preferably in loan servicing or bank operations.
• Strong communication skills, both written and oral, and interpersonal skills.
• Excellent customer service, problem resolution skills and strong PC skills.
• Experience with Salesforce or similar case management systems preferred.
• Working knowledge of residential and consumer loan documents preferred.
• Ability to interact with internal and external customers effectively.
• Ability to meet deadlines along with excellent time management skills.
• Demonstrated willingness to learn new processes, systems, and servicing functions.
• Ability to successfully cross-train and support multiple areas within Loan Servicing.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location

Hybrid/Waltham, MA

Salary Range

$27.41 - $36.59/hr

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $27.41 - $36.59/hr. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate's skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

Visa Sponsorship: Cambridge Savings Bank is unable to sponsor or take over sponsorship of an employment visa for this role at this time.

About Cambridge Savings Bank

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2026, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business leader. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.

Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.