The Analyst - Loan Servicing is responsible for supporting agriculture loan transactions to ensure alignment with legal documents and policy. This role provides frontline service and manages relationships with attorneys, investors, field servicers, borrowers, and other agriculture loan professionals. The Analyst - Loan Servicing understands the dynamic relationships in agriculture lending among borrowers, field servicers, investors, tenants, and other related parties.
With Whom You Will Work
The position will report directly to the Senior Manager - Closing and Servicing. The position will liaison with other members of the Operations team as well as Client Services, Farm and Ranch Credit, Business Development, and Legal departments.
Where and When You Will Work
The position will be based in the Farmer Mac Johnston, Iowa, location. Core business hours are Monday through Friday 8:00 am to 5:00 p.m. Central. This position may need to be available on occasion outside of the core business hours and/or business days for planned and unplanned activities to complete time sensitive projects or to attend off-site meetings and events.
Primary Responsibilities and Duties
Evaluate and prepare loan recommendations to Credit Servicing on non-routine matters, including
Change in terms and/or maturity date
Collateral substitution
Consent
Death of a borrower, transfer of ownership interest
Loan assumption
Partial releases, substitution of property, condemnation, easements
Product conversion
Release of funds held in escrow for tenant improvements or holdback
Subordination agreement
Perform calculations for
Debt Service Payments
Revolver draws/paydowns
Early Payoffs
Default
Maturity
Answer calls and email from borrowers or field servicers promptly
Is responsible for annual certification and taxes, insurance, and UCC with field servicers
Work closely with Legal and make recommendations on borrower situations (e.g., change in guarantor) to ensure alignment with all loan documents and policy expectations
Oversee collection of payments, future loan maturities, and delinquent loans
Complete changes due to service actions on loans in the servicing software to ensure maximum utilization is achieved for billing and reporting
Maintain loan files with documentation of items that occur after loan closing
Review boarding of new loans and prepare investor-related reports
Assist with testing of new versions of servicing software
Assist with internal and external audits and reviews
Assist with training and staff development, monitoring workloads and job priorities for the servicing area. Participate in the formulation of policy and procedures
Provide back-up to colleagues in Loan Closing and Servicing team
Perform other duties as assigned
Desired Skills and Qualifications
Experience in customer service
Ability to perform loan-related calculations
Outstanding knowledge of Microsoft Office Suite
Excellent communication and interpersonal skills
Organized with the ability to prioritize and multi-task
Reliable and professional
Ability to work in a fast-paced environment while providing strong attention to detail
Knowledge of the following documents
Legal
Closing
Appraisals
Environmental
Knowledge of loan modification process is preferred
Education/Experience
Bachelor's degree with paralegal certification (preferred) plus 3 years commercial or agriculture mortgage servicing experience; or equivalent combination of education and experience. Experience with taxes, insurance, and UCC verification is preferred.
Our compensation philosophy is targeted pay positioning relative to peers, our industry, and external markets. Farmer Mac is committed to a compensation program that will enable the organization to attract, motivate, reward, and retain highly skilled and creative talent to maintain sustained long-term performance and achieve the organization's strategic business objectives. The typical base pay range for this role is $58,000 to $68,000 per year. Compensation will vary based on experience and geographic work location.