Sr Loan Servicing Associate-Payment Processing

Northeast Bank; Boston (MA); On-site; USD 41,328 - 57,859; Full time

Job summary

Northeast Bank in Boston, MA seeks a Sr Loan Servicing Associate-Payment Processing to accurately process all incoming payments and back up SBA/Investor Loan Servicing. The role offers exposure to diverse functions within Loan Servicing and requires strong attention to detail and compliance.

Responsibilities include handling wire requests, processing loan payments, and assisting with investor reporting, plus ongoing adherence to procedures and regulatory exams.

Qualifications

• Ability to maintain confidentiality.
• Knowledge of SBA Servicing Requirements.
• Excellent organizational and communication skills.
• Ability to perform financial calculations.
• Ability to handle multiple tasks with priorities.
• 5 years of banking experience preferred.

Responsibilities

• Process all loan payments and ensure proper application.
• Manage incoming wire mailbox and respond per protocol.
• Handle payoffs and approvals.
• Process returns of ACH and checks.
• Facilitate monthly waterfall payments.
• Assist with SBA reporting and investor remittance.
• Provide backup support for 1502 Colson Report.
• Cross-functional support within Loan Servicing.

Skills

Confidentiality

SBA Servicing

Organizational skills

Communication

Math calculations

Multi-tasking

Banking experience

Attention to detail

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.

Sr Loan Servicing Associate-Payment Processing

full time Boston, MA, US

Salary Range: $30.00 To $42.00 Hourly

Position Summary

The Loan Servicing Payment Processing Specialist is pivotal in ensuring the accurate and timely processing of all incoming payments. This position also serves as a reliable backup for the SBA/Investor Loan Servicing specialist. Moreover, this role demonstrates flexibility by providing support across various functions within the department.

Responsibilities

• Manage the Loan Department's Incoming Wire mailbox, ensuring prompt and efficient handling of wire requests while maintaining adherence to established protocols.
• Process all loan payments, including checks and wires, collaborating with the Asset Management team to ensure proper application of payments.
• Handle financial transactions for payoffs and ensuring proper approvals.
• Manage return loan items, such as ACH and check returns, ensuring timely and accurate reversals.
• Facilitate monthly waterfall payments according to established procedures.
• Review documentation and process disbursement requests for approved commercial loans.
• Serve as backup for monthly 1502 Colson Report and payment of guaranteed fees to the SBA.
• Act as backup for Investor reporting and remitting for various commercial loan investors, including SBA, USDA, and other agencies.
• Assist with inquiries and transcript requests to both FTA and SBA.
• Review consumer exceptions, such as short payoffs or loans with zero principal balance and send necessary letters.
• Assess invoice fees, such as appraisal and legal fees, per loan officer instructions.
• Provide backup support in critical editing of originated and/or purchased loans as required.
• Acquire proficiency in other functions within the Loan Servicing department to offer additional assistance as needed.
• Maintain courteous and professional interactions with all staff members.
• Perform any other duties within the same physical and mental scope as required.
• Successfully pass technical and regulatory examinations required by the Company.

Knowledge, Skills and Abilities

• Ability to maintain confidentiality.
• Knowledge of SBA Servicing Requirements.
• Excellent organizational skills and the ability to effectively communicate with all levels of employees.
• Ability to calculate figures and amounts such as interest, percentages, ratios, and proportions.
• Ability to deal with multiple tasks by organizing and setting priorities.
• 5 years of banking experience preferred.

Physical Demands and Conditions

• Must be able to remain in a stationary position for long periods of time.
• Must be able to occasionally lift up to 25lbs.
• Consistently operates a computer and other office machinery such as calculator, copy machine and printers.
• Climate controlled general office setting with moderate noise level.
• Must express or exchange ideas and meaning with co-workers, supervisors, customers and vendors.

Northeast Bank is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity and expression, national original, veteran status and any other classification protected by Law. We celebrate diversity and are committed to creating an inclusive environment for all employees.