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Commercial Loan Servicer

Company: NIH Federal Credit Union
Location: Rockville
Posted on: February 15, 2019

Job Description:

We are looking for more than just an employee, we are looking for a true team member dedicated to enhancing the member experience! Come join the credit union movement and Discover Banking With Heart at NIHFCU! At NIHFCU, one of our core values is investing in our employees, which is why we offer perks like these: Benefit Package for all Full time employees includes health, dental, vision, Life insurance benefits 401(K) and profit sharing Tuition Reimbursement Career Advancement and development Credit Union Membership with discounted services and productsJOB SUMMARYThe Commercial Loan Servicer provides portfolio management for Commercial, Business and Government Guaranteed Loans including SBA 7(a) loans and Express LOCs.ESSENTIAL DUTIES AND RESPONSIBILITIES

  • Process loan payments
  • Process non-accrual and charge-off transactions
  • Process loan recoveries
  • Process incoming demand requests, incoming wires and payoffs
  • Act as primary collateral custodian
  • Maintain electronic filing system
  • Manage SBA 1502 Colson remittance report, resolve SBA exceptions, prepare and remit payments on the SBA 172 form
  • Responsible for boarding new loans on the core loan system, including post-closing.
  • Process loan extension and modifications.
  • Responsible for the daily GL balancing.
  • Process advances, payoffs and payments.
  • Process construction draw request and order Title Endorsements.
  • Conduct research necessary to address loan problems (data entry errors, payment exceptions/misapplications, etc.), resolve, and communicate outcome to appropriate parties.
  • Respond to inquiries received, and initiate contact with others by phone and mail regarding the Credit Unions serviced loans.
  • Prepare responses to requests for payoff demands received from borrower, escrow companies, and title companies.
  • Prepare reconveyances and other collateral releases for paid loans.
  • Assist with the imaging documents.
  • Assist Auditors and Examiners, as needed
  • Assist in managing past due creditsADDITIONAL RESPONSIBILITIES
    • Adheres to all Company Policies & Procedures
    • Adheres to local, state and federal laws including SBA Standard Operating Procedures
    • Attends training and maintains a basic knowledge of procedures to ensure compliance with laws and regulations governing financial institutions, as they apply to your position and job responsibilities, with an emphasis on the BSA/AML/CIP, Privacy Act and FCRA/FACT-Identity Theft.
    • File, monitor, and maintain UCC filings.
    • Track and obtain appropriate insurance such as final title insurance policies hazard and workers compensation insurance, etc.
    • Track and obtain recorded deeds of trust, recorded assignment of rents, recorded warranty deeds, etc.
    • Maintain audit exception databases. Communicate on a weekly basis with participant credit unions and MBL management to ensure timely clearance of such exceptions. REQUIRED QUALIFICATIONS:
      • Minimum 2 years of experience with PCFS2000 Operating System
      • Minimum 3 years of experience servicing Small Business Administration (SBA) loans
      • Skilled with Microsoft Word, Excel, Outlook and related software applicationsDESIRED QUALIFICATIONS:
        • Excellent verbal, written, and interpersonal communication skills
        • Ability to interact with all levels of the organization
        • Must be detail oriented in understanding and applying servicing and regulatory requirements.
        • Strong commercial credit analysis skills
        • Ability to manage multiple projects and deadlines simultaneously in a fast paced, high production, professional environment
        • Accounting background preferred
        • College Degree preferredREQUIRED COMPLIANCE COURSESEnsure that work results and processes comply with relevant laws and with established NIHFCU policies, procedures, and practices, including, but not limited to, the Bank Secrecy Act (BSA).Attend all required training or complete and pass all online required training courses as applicable.PM18PI107722790

          Keywords: NIH Federal Credit Union, Washington DC , Commercial Loan Servicer, Accounting, Auditing , Rockville, DC

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