Loan Servicing Specialist

Our SelectLeaders client is a U.S.-based commercial bank that offers a broad range of financial services, with a particular strength in international trade and small business lending. They provide products such as export-import financing, commercial real estate loans, business and personal checking and savings accounts, and digital banking solutions and are seeking a Loan Servicing Specialist to support their team.

The Loan Servicing Specialist is responsible for the accurate and timely administration of the bank’s commercial and consumer loan portfolios throughout the lifecycle of each loan. This includes managing daily servicing activities such as payment processing, account maintenance, escrow monitoring, and customer service. The specialist ensures compliance with internal procedures, regulatory guidelines, and loan documentation. This position requires strong attention to detail, excellent organizational skills, and the ability to communicate effectively with internal departments and external clients.

Essential Functions:
Loan Processing & Account Maintenance

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Set up and board new loans accurately into the loan servicing system based on documentation and credit terms.

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Process loan payments, payoffs, rate adjustments, and advances for various loan types including commercial, real estate, SBA, and consumer loans.

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Ensure accurate accruals, principal and interest allocations, and amortization schedules.

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Maintain and update loan accounts due to modifications, extensions, renewals, and covenant compliance.

Escrow, Insurance &Taxes

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Monitor and manage escrow accounts including tax and insurance payments.

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Ensure compliance with flood insurance, hazard insurance, and other regulatory requirements (e.g., FEMA, RESPA).

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Perform periodic escrow analyses and communicate shortages or overages to borrowers.

Customer & Internal Support

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Serve as a servicing liaison to Relationship Managers, Credit Administration, Treasury Services, and external clients.

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Investigate and resolve servicing discrepancies and customer inquiries in a timely and professional manner.

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Prepare payoff statements and letters of satisfaction upon loan closure.

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Respond to audit, compliance, and exam requests with accurate documentation and explanations.

Documentation & Compliance

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Review and interpret loan documentation to ensure servicing terms match the credit agreement and collateral structure.

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Maintain servicing ticklers for UCC renewals, insurance lapses, and covenant deadlines.

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Assist with regulatory and internal compliance reviews and remediations as needed.

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Other duties as assigned.

Qualifications:
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Minimum 3–5 years of experience in loan servicing, commercial loan operations, or bank back-office support.

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Familiarity with a variety of loan types (C&I, CRE, SBA, consumer) preferred.

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Demonstrated leadership, training, and process improvement experience.

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High attention to detail with the ability to manage multiple priorities and meet deadlines.

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Excellent verbal and written communication skills.

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Experience preparing for and responding to external audits or exams is highly preferred.

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Experience with servicing platforms such as Jack Henry, FIS, LoanIQ, or nCino.

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Experience with core banking systems and imaging software.