Commercial Loan Servicing Representative

  • Competitive
  • Miami Lakes, FL, USA Miami Lakes FL US
  • Permanent, Full time
  • BankUnited, N.A.
  • 21 Jul 18 2018-07-21

Commercial Loan Servicing Representative

SUMMARY: Administers Commercial Real Estate/Corporate/Small Business Banking/Private Banking loans from loan set up thru payoff including but not limited to entering loans in the system, interest rate changes, payment processing, escrow disbursement, participations, loan documentation review and other duties as assigned by the Commercial Loan Servicing Manager or Commercial Loan Servicing Supervisor.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties and special projects may be assigned.

**Experience in Commercial Loan Insurance is a requirement to apply for this position**

The following responsibilities are performed independently with consultation as needed with the senior loan servicing representative, supervisor or manager.

* Upon receipt of new and renewed loan packages, reviews loan documents and data in accordance with the established policies and procedures and enters in the loan servicing system customer, commitment and loan information including but not limited to guarantors, collateral, insurance and exception items.
* Reviews loan files and system data for completeness and accuracy.
* Prepares files and maintains custody over all original loan documents and possessory collateral under appropriate controls including dual control where necessary.
* Creates and maintains Automatic Charge Controls/Auto Debit for new and renewed loans and obtains daily reports to monitor activity.
* Prints, reviews and mails to customers the monthly loan billing statements as well as year-end tax information. Notifies officer of all returned mail and updates system when current information is received.
* Handles monetary transactions. When payments and advances are processed each individual transaction has to be analyzed in order to decide how to apply funds, availability, maturity, and if loan is current. Processes transactions to charge off loans.
* Gathers information from various sources and determines which interest rate parameters in the loan servicing system need to be updated. At maturity of Libor rates loan data is changed accordingly.
* Reviews various general ledger account reconciliations and clears outstanding exceptions. Handles escrow accounts for insurance. Analyzes report to determine which policies are expiring and contacts agents to request invoices, reviews same and requests/mails check to agents.
* Handles escrow accounts for taxes. Determines which loans should be set up and maintained with the tax service provider, transmits information and remits funds upon receipt of bill. When information from the tax servicer is received on taxes due for each customer, balances report against escrow funds and identifies any shortages to request higher authority approval. Prepares checks/wire transfers requests and remit funds to different Tax Collectors offices.
* Prepares and mails escrow analysis to customers and lenders, requests refund checks, if applicable and modifies on-line data with new escrow payment information..
* Reviews tickler report for outstanding items (i.e. insurance, taxes, original documents, CD maturity, UCC expiration, payment and interest rate changes). Files UCC3 continuations with appropriate authorities to maintain the perfection of the loan collateral. Reviews CD maturities to verify that appropriate holds are on place and if interest rate change is necessary.
* Monitors insurance on non-escrow accounts and when unable to obtain renewal information, force places flood and fire insurance. Updates loan system with new escrow payment information and requests check for amount due to our Servicer.
* Responsible for the vendor management.
* Upon request of payoff figures, reviews loan file and determines which fees need to be collected at payoff and prepares payoff letter.
* Reviews paid off loans and identifies which documents can be released to the customer by preparing satisfaction of mortgage, UCC terminations, release of life insurance polices, etc.
* Upon notification from Senior Management places loans on non-accrual and handles manually monthly billing for non-accrual as well as charged off loans.
* Performs system maintenance such as officer, branch and address changes, loan grading.
* Gathers, bundles, logs and forward various documents to outside storage.
* Obtains reports from cold storage to track newly book loans, credit availability, escrow payments, paid off loans, interest rate changes, general ledger histories, posted and non-posted transactions, past due loans, auto debit.
* Prepares and updates monthly reports for Senior Management.
* Responds to customer requests and questions regarding technical, large or complex loan accounts. Analyzes and rectifies customer concerns using established procedures.
* Other duties as assigned by the CLSRIII, CLSM and CLSS.

Note: Functions noted above are primarily performed independently, however all reports, accounting entries and system entries must be properly approved by the CLSM or CLSS.

SENIOR LEVEL RESPONSIBILITIES: Trains, oversees and assists CLSRI and CLSRII when needed. Be able to work independently with minimal required assistance from supervisor.

SUPERVISORY RESPONSIBILITIES: Acts as backup in the absence of the CLSS

QUALIFICATIONS/COMPETENCIES
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: Commercial Loan Servicing Representative I: Associate or Bachelor Degree or equivalent related experience. 1-3 years prior experience in a loan processing/servicing area or related environment, dealing with a variety of commercial insurance coverage types and products. Commercial Loan Servicing Representative II : Associate or Bachelor Degree or equivalent related experience. 3-5 years prior experience in a loan processing/servicing area or related environment. Commercial Loan Servicing Representative III : Associate or Bachelor Degree or equivalent related experience. 5-7 years prior experience in a loan processing/servicing area or related environment.