Loan Servicing Specialist

Quaint Oak Bank is hiring an experienced Loan Servicing Specialist.

Join a growing organization that offers excellent opportunities for career growth, a team atmosphere, and a competitive benefits package!

Location: Remote

Position Summary: The Loan Servicing Specialist’s principal role is to utilize their extensive knowledge of commercial loan servicing in order to maximize the social impact and financial performance of our growing loan portfolio. They will work closely with our borrowers, and collaborate with the different departments in our organization to emphasize a high quality of service while ensuring the long-term sustainability of our loan funds. The Loan Servicing Specialist carries out our loan servicing and debt collections strategies while fully complying with federal and state regulations. The Loan Servicing Specialist will be available to borrowers to discuss their situation or their loan. This person will also be responsible for a variety of back-office activities such as daily mail, processing payments that have been dropped off and preparing outbound mail to our clients.

Essential Duties and Responsibilities:

• Provide exceptional customer support to our borrowers and partners
• Input new commercial loans, updates, and tracking ticklers into the Bank’s core processing system
• Set up escrow accounts, prepare escrow analysis, communicate directly with customers
• Advance funds for new loans, apply initial interest and escrow payments, enter collected funds in appropriate general ledger accounts
• Update UCC filings and insurance tracking to ensure all loan files are complete and accurate and valid on an ongoing basis
• Ensure the timely collection and processing of tax and insurance payments for loans that are escrowed with the Bank
• Scan and index files into electronic file system
• Manage all aspects of the commercial loan payoff process including customer service inquiries
• Coordinate daily transactions and final payoff process with other departments
• Prepare and process mortgage satisfactions and terminations as needed
• Follow the organization’s established strategies for debt collection and suggest areas of improvement in accordance with Federal and State regulations, as well as in accordance with the policies of the Loan Servicing Department and the organization.
• Investigate and resolve discrepancies
• Other duties as assigned

Required Skills and Abilities:

• Customer Service skills
• Microsoft Office skills
• Ability to work independently
• Detail-oriented
• 5 years’ experience in commercial loan servicing
• Solid computer skills including Microsoft Word, Microsoft Excel, Microsoft Outlook
• Accuracy is paramount
• Ability to problem solve with limited direction is paramount
• Experience with 3rd party vendors such as Lereta and Allied Solutions is preferred
• Experience with Fiserv Precision, or a similar Loan Core System, is preferred
• Loan documentation review experience is preferred
• Ability to communicate effectively with other team members
• Professional and courteous customer service skills
• Strong time management and organizational skills with the ability to prioritize
• Knowledge and understanding of banking rules, regulations, laws and all policies and procedures pertaining to them including but not limited to the Bank Secrecy Act

Preferred Experience:

• Bachelor’s degree or equivalent experience
• Experience in financial services

Quaint Oak Bank and/or its subsidiaries is an affirmative action and equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, creed, religion, ancestry, citizenship status, age, sex, sexual orientation, gender identity, marital status, national origin, disability or veteran status. Quaint Oak Bank and/or its subsidiaries is committed to providing access, equal opportunity and reasonable accommodation for individuals with disabilities in employment. To request a reasonable accommodation, contact Rachel Schmahl at 610.798.6111 or rschmahl@quaintoak.com