Servicing Associate

Working in a team of 8-10 servicing professionals engaged in most aspects of commercial loan servicing, the Associate, Loan Administration, shares responsibility for compliance with investor guidelines, servicing agreements, loan documents and service level agreements. Works with the Director, Loan Administration, to optimize the use of technology, implement and conform to best practices and consistently achieve Key Performance Indicators.

• For new loans, review loan and other closing documents to set the loans up on the servicing system, initiate monthly billings, and generate welcome letters.
• Process incoming payments, reconciling discrepancies between amounts due and amounts received. Monitor lock boxes, review clearing accounts and process daily wires.
• Update system / s with changes in loan structure, i.e., assumptions, modifications, and changes to borrowers and collateral.
• Monitor Rate Cap Agreements, letters of credit, UCC's, reserves and escrows.
• Research and resolve borrowers' questions and issues.
• Maintain strict compliance with the company's policies and procedures, with an ongoing focus on improving existing processes and procedures as opportunities arise.
• Ensure that all training requirements are met in a timely manner.
• Work to ensure ongoing compliance with Key Performance Indicators.
• Participate in servicing projects, as necessary.