Loan Servicing Specialist I - Commercial

Actual compensation paid may fluctuate higher or lower than the posted range and the range may be modified in the future due to several factors including, but not limited to, relevant experience, certifications, and qualifications, internal equity, adjustments to the requirements and responsibilities of the job, business needs, and economic and market data. Perform monetary and non-monetary maintenance on all commercial loans including, but not limited to, loan and fee payment processing, interest rate changes, re-amortization of established payment schedules.

Overview: Responsibilities include performing a variety of loan servicing and processing activities in conformance with established bank policies, procedures and objectives. Performs any function, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers. Responsibilities:

• Set up new loans for all lending teams within the Commercial Lending Division. Perform the initial review of legal documents and setup forms for accuracy and completeness.
• Research and resolve servicing issues in support of loan officers and customers within scope of authority and expertise. Work with manager to ensure timely and accurate Loan Servicing practices.
• Monitor, maintain and update rate and payment change records as required. Send adjustment notices to customers and responds to any customer inquiries or concerns. May manually calculate daily interest rate and per diem rate for customer, lender, or attorney.
• Perform monetary and non-monetary maintenance on all commercial loans including, but not limited to, loan and fee payment processing, interest rate changes, re-amortization of established payment schedules.
• Prepare and process commercial mortgage, commercial loan, and construction loan payoff requests from internal and external customers.
• Prepare commercial mortgage discharge documents as well as customer and attorney letters. Review Note information to ensure discharge information is accurate and complete.
• Identify Flood, CRA, and other regulatory issues via setup forms and documents.
• Perform advances and disbursements on Commercial Lines of Credit. Review and research requests to ensure all associated risk have been mitigated.
• Work as a part of the team that supports other Loan Servicing team member’s responsibilities.
• Perform all duties in accordance with prescribed regulatory compliance guidelines.
• Perform related and unrelated duties as may be required.

Requirements: Education

• Associate's Degree or equivalent relevant work experience is preferred

Work Experience

• 1-2 years of lending, banking or commercial loan servicing experience is preferred

Knowledge, Skills, and Abilities

• Must be very detailed oriented, highly organized and customer service oriented.
• The ideal candidate must possess, in the minimum, intermediate technology skills including knowledge of Microsoft Office applications.

Expected Pay Range:
The pay range is the salary we in good faith expect to pay for this role at the time of posting. Actual compensation paid may fluctuate higher or lower than the posted range and the range may be modified in the future due to several factors including, but not limited to, relevant experience, certifications, and qualifications, internal equity, adjustments to the requirements and responsibilities of the job, business needs, and economic and market data. EEO Statement: Middlesex Savings Bank is an Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities