Commercial Loan Servicing Analyst

US-MA-Brockton
Job ID
2017-2224
Position Type
Full Time Non Exempt Full-Time
Department
Res/Comm Servicing [006506]

Overview

Under the Supervision of the VP Mortgage and Commercial Servicing Officer, reviews and books all commercial mortgages and commercial loans originated by the Commercial Lending Division and Business Banking in accordance with corporate policy, and state and federal regulations.  This position is required to perform all of the duties required to service all aspects of the commercial loan portfolio.

 

Responsibilities

Perform the new loan booking function to the core system along with the monetary transactions.  Additionally, this person is responsible for setting up each deal in accordance with the loan approval and loan documentation.  Each deal will vary and requires strong analytical and interpretative skills.  This will also include the accurate set up of loan fees, participating banks, loan masterlines, and SBA loans.  Once the loan has been established, further modification or re-structuring of the deal will be required on the core system.

 

Communicate with lenders and attorneys to facilitate the closing and booking process. Report and track all loan/ documentation exceptions and/or pending items. Follow-up with lenders and attorneys to ensure documentation exceptions and pending items are resolved in a timely manner.

 

Reviews all loans for approval by appropriate authority level prior to loan funding. (i.e., VP Small Business, Commercial Loan Officer, SVP Commercial Lending, Credit Committee, CEO, Board Approval)

 

Analyze all required daily reporting to verify and manage participation remittances, loan document requests, unapplied loan funds, loan and payment exceptions, verify loan payoffs and rate changes. Prepare, review and mail out all required notification to customers. Analyze loan critical and loan maintenance reports to verify all changes are accurate, logical and within the employee’s realm of authority to mitigate risk and fraud.

 

Analyze all required monthly reporting to verify and manage loans past maturity and loans due to mature. Communicate past and future maturity findings with lenders to ensure loans are monitored and maintained appropriately.  Prepare, review and mail out all required notification to customers regarding past/future maturity and balloon payments. Monitor and update all commercial loans reflected on the loan fee/cost amortization report and report all errors to Finance.

 

Monitor activity on all participation loans.  Validate the principal and interest due and update the remittance reports. Send all appropriate information to Finance to wire the funds to the participating banks. Verify and track interest due to the Bank on any participation in loans. This activity includes the preparation of monthly reconcilement on applicable general ledger and custodial accounts.

 

Perform Quality Control review of all commercial loans and modifications to verify closing/post-closing requirements have been met per credit approval and closing documents. Verifies all required documents are present and have been completed accurately.  This requires the review of moderate to complex documentation to reflect the accuracy of the data and conformity to established procedures and policies.

 

Responsible for insuring high levels of data integrity and compliance as it relates to critical customers, loan terms and conditions. Track and report all compliance issues to Credit Operations, Credit Risk and Compliance Officer.

 

Perform and document monthly Operational Risk testing to ensure mortgage servicing processes are completed timely, accurately and in accordance with the Bank’s lending policy and procedures and compliance with state and federal regulation. 

 

Acts as a liaison between internal and external customers, the Commercial Servicing Department, and many other internal departments.  Researches and resolves more complex documentation, payment and/or other loan account problems.

 

Actively monitor loan collateral to insure adequate levels of collateral are securing each loan in the commercial portfolio according to policy.  The collateral could include accounts receivables, stocks certificates, and other marketing securities which require periodic valuation by the Commercial Loan Servicer.

 

Responsible for applying payments, advances, and performing account renewal and extensions.

 

Responsible for collaborating, reporting and processing requests for all third party vendors for all business needs (insurance tracking, tax tracking and hedging tracking).

 

Calculating accruals and review rate index changes for accuracy.

 

Support internal and external auditing process – Assist in gathering requested audit materials – Participate in audit interviews.

 

Lead contact with participation banks for financial transactions and reporting.

 

Reviews and prepares reports to track loan maturity dates, loan review dates, collateral and documentation exceptions, and others.

 

Create and develop methods for processing, tracking and reporting all new products. 

 

Review and reconcile the commercial suspense and other applicable general ledger accounts.

 

Responsible for researching and understanding all new concepts that arise with new product offerings.

 

Maintain a strong familiarity with all investor SBA Lending procedures to adequately maintain the guarantees required on all SBA insured loans.

 

Maintain a strong knowledge of all applicable regulations and financial accounting practices applicable to the servicing of commercial loans

 

SECONDARY RESPONSIBILITIES:

Monitor and track all trailing documents and report exceptions appropriately.

 

Maintain commercial customer and investor relationships through highly professional communications to work through and resolve daily issues.

 

Maintain a thorough knowledge of all commercial mortgage and commercial loan products and services.

 

Qualifications

 

 

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

 

EDUCATION and/or EXPERIENCE

A minimum of four years’ recent experience in commercial loan servicing and completion of accounting reconcilements is required. Bachelor’s Degree in business, finance or accounting is preferred. 

 

TECHNICAL EXPERIENCE

An intermediate level of expertise with Microsoft Excel is required to include solid data management skills and chart preparation.  An intermediate understanding of Microsoft Word.  A minimum of (3) three years’ experience processing loan monetary transactions and data maintenance on Insight (or comparable loan servicing platform) is required. 

 

LANGUAGE SKILLS

Ability to read and comprehend instructions/direction in the Small Business Administration Guides and the HarborOne Commercial Loan Policy is essential.  Strong written and verbal communication skills with the ability to effectively prepare correspondence and memos to internal and external business partners and customers.  The ability to effectively verbally present information in one-on-one and small group settings with customers, clients and other employees within the organization.

 

OTHER SKILLS

Excellent organization skills. Ability to prioritize work and manage time efficiently to meet deadlines. Demonstrated attention to detail skills. Can monitor own work to ensure quality, accuracy and thoroughness.

 

MATHEMATICAL SKILLS

Strong ability to add, subtract, multiply and divide in all units of measure using whole numbers, common fractions and decimals.  Strong ability to compute interest rates, ratios and percentages.

 

REASONING ABILITY

Ability to apply common sense understanding to carry out instructions furnished in written, oral or diagram form.  Ability to cope with complex problems involving several concrete variables and abstract variables.

 

HarborOne Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, marital status, national origin, disability status, protected veteran status, or any other characteristic protected by law.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

 

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