Loan Servicing Specialist

Role Overview

The Loan Servicing Specialist is responsible for performing all day-to-day functions within the Loan Servicing Department, ensuring accuracy, compliance, and timely completion of all loan administration activities. This position supports the full loan lifecycle-including booking, maintenance, payment processing, escrow administration, lien perfection and release, and member inquiries-while delivering exceptional service to members and internal business partners.

Key Responsibilities

• Process new loan bookings, renewals, extensions, and maintenance requests in DNA and related systems.
• Review loan documents for accuracy, completeness, and policy/regulatory compliance.
• Monitor daily reports for payment exceptions and discrepancies; research and resolve issues.
• Maintain collateral records, ensuring proper lien perfection and timely releases.
• Process payoffs, satisfactions, subordinations, and reconveyances accurately and on time.
• Administer escrow accounts, including disbursements, analyses, and deficiency billing.
• Post and balance daily loan payments, advances, and adjustments.
• Respond promptly to member and internal inquiries with accurate, courteous service.
• Aid with year-end reporting (e.g., 1098/1099) and monthly reconciliations.
• Maintain documentation and audit trails per record retention and compliance standards.
• Support audits and collaborate with Collections, Accounting, and other departments to ensure data accuracy.
• Promote process improvements, complete required training, ensure regulatory adherence, and support the credit union's mission.

Essential Qualifications

• One to two years of administrative support experience required.
• Working knowledge of loan servicing functions including payments, escrows, payoffs, lien processing, and maintenance.
• Understanding of lending regulations.
• Proficiency with core banking systems (Fiserv DNA preferred) and lending software (MeridianLink, Temenos etc.).
• Accuracy and attention to detail in data entry and documentation.
• Strong organizational and time-management skills with the ability to meet deadlines.
• Excellent member service and communication skills.
• Ability to work independently and collaboratively within a team environment.
• Strong problem-solving and analytical abilities.
• Proficient in Microsoft Office applications, including Word, Excel, and Outlook.
• Maintains confidentiality and exercises sound judgment.