Loan Administration Representative
Position Summary:
The Loan Administration Representative is a dual role where the individual is responsible for the administration and servicing of consumer, residential mortgage, commercial, and home equity loans. This position ensures the accurate processing of loan payments, escrow transactions, loan maintenance activities, and customer inquiries while maintaining compliance with bank policies and regulatory requirements. The Loan Administration Representative is also responsible for assisting with processing residential mortgage loan applications from application through closing. This role works closely with borrowers, loan officer, underwriter, attorneys, and appraisers to ensure mortgage loans are processed efficiently, accurately, and in compliance with lending regulations and bank policies
Pay Range: $60,000 - $65,000 per year, based on experience
Benefits:
· 401(k)
· 401(k) matching
· Dental insurance
· Health insurance
· Paid time off
· Tuition reimbursement
· Vision insurance
Work Location: In person, Main Office
Key Responsibilities:
· Process and post loan payments accurately and timely.
· Review daily servicing reports to ensure payment and disbursement accuracy and make corrections as needed.
· Board new loans onto the servicing platform and establish accounts in applicable monitoring systems.
· Prepare and process loan payoffs, including payoff demand statements. Process paid-in-full loans and complete collateral release procedures in accordance with bank policies.
· Maintain loan records and update servicing systems with account changes and maintenance requests.
· Process escrow transactions, including payment of real estate taxes, flood insurance, mortgage insurance, and other related disbursements. Monitor escrow accounts for accuracy and regulatory compliance.
· Prepare and distribute escrow analysis statements and related notices.
· Perform final post-closing file reviews and quality control checks. Maintain, track, and resolve outstanding loan documentation exceptions
· Respond to customer inquiries regarding loan accounts, payments, escrow activity, and payoff requests.
· Provide support and guidance to branch and retail banking staff regarding loan servicing questions.
· Generate servicing reports and management summaries.
· Assist with internal audits, regulatory examinations, and quality assurance reviews.
· Ensure compliance with applicable federal and state regulations governing loan servicing.
· Receive loan applications for both consumer and mortgage loans
· Assist with processing applications for both consumer and mortgage loans from both the website and in person based on established Bank Loan Policy
· Assist in interviewing loan applicants via phone or in person and obtain all the necessary documentation for processing/underwriting
· Provide information concerning different loan types offered, the terms and interest rates, and the specific documentation needed for loan consideration
· Assist in preparation of loan documentation for loan closing, funding or denial letters as necessary
· Meet with borrowers for consumer loan document execution
· Ensure all post-closing documentation requirements are satisfied.
· Support continuous process improvement initiatives to enhance servicing efficiency and accuracy.
· Assist with delinquency management activities, including customer outreach as directed.
· Work with third-party vendors and service providers as needed.
· Perform other loan department duties as assigned.
· Maintain working knowledge of applicable regulations, including: Truth in Lending Act (TILA), RESPA and TRID requirements, Equal Credit Opportunity Act (Regulation B), Home Mortgage Disclosure Act (HMDA) and Regulation C, Fair Credit Reporting Act (FCRA), S.A.F.E. Mortgage Licensing Act, Other applicable federal and state lending regulations
Qualifications:
· Minimum of 2 years of loan servicing, loan administration, or banking experience
· Knowledge of consumer, mortgage and commercial loan servicing practices
· Familiarity with escrow administration and regulatory compliance requirements
· Strong organizational, analytical and problem-solving skills
· Excellent verbal and written communication skills
· Proficiency with loan servicing systems and Microsoft Office applications
· Bachelor’s degree preferred but not required
Work Environment
This position operates in a professional office environment and may require occasional collaboration across departments to support operational needs.
Physical Requirements
The employee must occasionally lift and/or move up to 50 pounds.
Security and Conduct
All employees are to follow prescribed security procedures, policies and banking regulations to ensure strict compliance with all regulations, the safety and well-being of the bank and its employees. In addition, adherence to the BSA policies and procedures designated to the position and the ability to recognize and appropriately report suspicious activity to the BSA Officer are an important component of each job. Any information acquired through the business of the bank is to be treated as strictly confidential information not to be improperly divulged to unauthorized individuals. The Bank's objective is to provide customers and the communities we serve with high quality personalized service, innovative products and sound financial assistance, creating challenging career opportunities for our employees and a work environment that encourages their input and continued development. We maintain a professional atmosphere for our customers as well as for our employees and expect all employees to adhere to the code of ethics and dress code at all times. It is the policy of the Bank that employees maintain a working environment that encourages mutual respect, promotes civil and congenial relationships among employees and is free from all forms of harassment and violence. Overall compliance with the Bank’s policies, security and codes of conduct are equally important in meeting overall performance objectives of the position.
Disclaimer
This job description is intended to describe the general nature and level of the work being performed by employees in this position. It is not intended to be a complete list of all responsibilities, duties, and skills required for this job classification. Managers may, at their discretion, assign or reassign duties and responsibilities to this job at any time.
Pay: $60,000.00 - $65,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Health insurance
- Paid time off
- Retirement plan
- Tuition reimbursement
- Vision insurance
Work Location: In person
