Loan Servicing Specialist

Location: Willards, Maryland • Reports to: AVP Loan Administration • Full-Time

About the Role

The Loan Servicing Specialist I is an entry-level lending operations professional responsible for supporting post-closing loan processing, loan boarding, servicing setup, record maintenance, and customer follow-up activities. This position ensures accurate loan data entry, proper documentation, regulatory compliance, and a high-quality customer experience following loan closing. This role is ideal for a detail-oriented individual who enjoys working in a team environment while supporting the financial needs of the local community.

Responsibilities

• Loan Boarding & Post-Closing Review:
  • Enter new loans into the core banking/servicing system
  • Validate loan data including borrower information, interest rates, payment schedules, escrow setup, and collateral records
  • Review closed loan packages for completeness and accuracy in accordance with bank policies and regulatory requirements
  • Perform final data entry into the core processing system, including loan terms, escrow accounts, payment schedules, and collateral records
  • Reconcile loan setup with the general ledger and confirm proper disbursement of funds
  • Ensure documents are properly labeled and indexed within the electronic document management system
  • Process and file necessary titles and liens with appropriate government agencies
• Loan Servicing Support:
  • Process daily loan payments and apply them accurately to customer accounts
  • Process loan payoffs, modifications, renewals, and maintenance requests
  • Handle routine account maintenance including address updates, due date changes, and system corrections
  • Assist in generating payoff statements and verifying balances
  • Maintain accurate loan records within servicing systems
  • Respond to borrower inquiries regarding loan terms, balances, and servicing issues
  • Collaborate with internal departments to resolve servicing issues
• Insurance & Collateral Tracking:
  • Monitor and update insurance records for secured loans (homeowners, flood, auto, etc.)
  • Follow up with borrowers or agents for missing or expired insurance documentation
  • Ensure insurance coverage meets bank policies and regulatory standards
  • Coordinate with force-placed insurance providers when necessary
• Post-Closing Customer Experience & Relationship Development:
  • Proactively contact customers following loan closing to ensure satisfaction with the loan process
  • Confirm customers understand payment terms, servicing procedures, and account access options
  • Identify opportunities to assist customers with additional banking services including deposit accounts, online/mobile banking, treasury services, or future lending needs
  • Relay customer feedback and service opportunities to loan officers or appropriate departments
  • Promote a positive, relationship-focused experience aligned with the Bank’s community banking mission
• Compliance & Operational Standards:
  • Learn and follow servicing procedures, regulatory guidelines, and internal compliance standards
  • Maintain confidentiality of borrower and bank information
  • Support audit requests and quality control reviews as assigned
  • Assist with special projects and departmental initiatives

Requirements

• High school diploma or equivalent required
• 0–1 year of experience in banking, finance, or administrative support (loan experience preferred)
• Prior exposure to loan servicing or operations is helpful but not required

Skills

• Strong attention to detail and organizational skills
• Excellent communication and follow-up abilities
• Customer service mindset and team-oriented approach
• Ability to handle confidential information with discretion
• Proficiency in data entry and Microsoft Office (Word, Excel)
• Ability to multitask and prioritize in a fast-paced environment

Work Environment

This role is typically performed in a corporate office environment, with the option to work remotely. May require occasional travel to other branches or locations. The role may involve extended hours during peak periods or special projects.

Benefits

• Competitive salary based on experience and qualifications
• Comprehensive benefits package including health insurance, retirement plans, bonuses, and paid time off