Business Loan Administrator

2 weeks ago


North Liberty, Iowa, United States Green State Credit Union Full time
GreenState Credit Union

Commercial Loan Servicer

Job Overview

POSITION SUMMARY:

The role involves managing the servicing of all commercial loans effectively.

GREENSTATE CULTURE:

At GreenState, our mission is to create enduring value for our members, employees, and communities. We empower our team to unlock endless possibilities that positively influence the lives of our members and enhance community vitality.

The compensation for this position ranges from $23.61 to $31.72 per hour, complemented by a comprehensive benefits package.

Key Responsibilities

The following duties and responsibilities are essential to this role, though they may evolve over time:

1. Uphold the Credit Union's core values and service standards while contributing to GreenState's mission.

2. Maintain a strong focus on providing exceptional service to both internal and external members.

3. Foster teamwork in all interactions with colleagues and while executing responsibilities.

4. Engage in community enrichment by participating in service organizations and Credit Union events annually.

5. Safeguard the confidentiality of member information at all times.

6. Assist with wire postings and backend file management.

7. Comply with all applicable state, federal, and Credit Union regulations, policies, and guidelines.

8. Build relationships within the real estate sector.

9. Manage the Commercial Servicing direct phone line and email inquiries.

10. Support year-end processes, including the completion and distribution of 1098/1099 statements.

11. Oversee the tracking and payment of escrowed insurance, ensuring timely follow-ups on any lapses.

12. Coordinate the tracking and payment of property taxes on a biannual basis.

13. Assist in the selection, installation, and maintenance of software products and vendors.

14. Manage monthly communications with vendors to collect missing lien waivers and documents to prevent liens and secure final title policies.

15. Generate periodic statement files and coordinate with vendors for production.

16. Facilitate the setup and general ledger posting of all loans.

17. Contribute to the development of procedures for commercial servicing operations, encompassing ongoing support, payoffs, tax, insurance, and servicing functions.

18. Stay informed about changes in servicing software, regulations, policies, and industry practices to ensure compliance.

19. Produce daily and monthly reports as required.

20. Monitor and adjust variable rate loan rates and payments as necessary.

21. Assist with processing and maintaining participations, including coordinating funding and buybacks with participants, as well as record-keeping and reporting.

22. Oversee all escrow accounts, managing correspondence with members regarding their escrows and conducting annual escrow analyses.

23. Process commercial payments on a daily basis.

24. Investigate and rectify payment discrepancies on loan accounts due to errors in application or incorrect interest rates, including necessary adjustments and file maintenance.

25. Prepare mortgage releases and coordinate follow-ups on mortgage satisfactions to ensure timely processing.

26. Assist with Participation Loan Sales, including file retrieval for review, document export, balance updates, and monthly principal and interest reporting.

Qualifications

1. High school diploma or equivalent (e.g., GED) with six months to one year of relevant experience or a post-secondary degree in Business, Mathematical Science, or a related field.

2. Punctuality and reliability in attendance, including the ability to work overtime as needed.

3. Strong interpersonal skills to represent the Credit Union positively during member interactions.

4. Ability to deliver quality service to members via phone or in person.

5. Capacity to develop and maintain effective working relationships with colleagues.

6. Proficiency in prioritizing tasks and organizing work efficiently to manage a high volume of details.

7. Competence in operating relevant computer applications, online terminals, and standard office equipment.

8. High level of accuracy and attention to detail is essential.

9. Knowledge of lending policies and real estate is preferred.

10. Experience with escrow processes is desirable.

11. Must be bondable.

Reporting Structure
This position reports to the AVP/Commercial Operations.

Supervisory Responsibilities
This role does not involve supervising other employees.

Equal Opportunity Employment Statement
GreenState Credit Union is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

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