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Provident Bank · 4 hours ago

Loan Servicing Representative III (Transaction Processing)

Woodbridge, NJ

Full-time

Onsite

Senior Level

$22.26/hr - $27.79/hr

5+ years exp

Provident Bank is a highly regarded financial institution with deep roots in the community, seeking a Loan Servicing Representative III. This senior-level position involves managing commercial loan servicing activities, processing loan modifications, and training new staff while ensuring compliance and accuracy in all transactions.

Financial Services

Responsibilities

Assists with managing various commercial loan servicing activities, including but not limited to application of funds, payment of real estate taxes and customer inquiries. Ensures that areas of responsibility meet required deadlines for both internal and external customers. Evaluates and resolves high priority or complex issues through communication and negotiation with customers

Is responsible for setting up all borrower and financial information for entire portfolio of new loan closings on the appropriate Horizon and ACBS systems. Reads and interprets loan documents and approvals for verification of system accuracy. Tracks all future interest rate adjustments and verifies accuracy of system-generated letters for compliance with loan documents. Alerts management of any upcoming changes where may need special attention

Processes all loan modifications, including extensions of maturity, interest rate adjustments, borrower transfers, etc on entire portfolio. Inputs and verifies that all modified data has been approved by Credit Committee and/or designated loan officer

Administers real estate tax escrow disbursement report for prevention of negative escrow transactions for all loans. Directly contacts local municipalities as needed for clarification of amounts due and resolving any discrepancies regarding borrower real estate tax payments made by The Provident Bank. Responds to all borrower inquiries for reconciliation of escrow transactions. Re-analyzes escrow accounts where deficiencies are noted

Handles entire monthly billing process, which includes assuring that all commercial account bills are generated and mailed to customers. Adheres to finest quality control standards. Contacts borrowers on returned mail items for address verification

Processes all monetary transactions including, monthly payments, fees, payoffs, construction and commercial line/loan advances and pay-downs and performs any corrections and adjustments as warranted

Trains new staff on Bank’s policies and procedures needed to perform their respective job function

Perform other duties as assigned by management

Qualification

Horizon SystemACBS SystemLoan Documentation InterpretationExcel Spreadsheet CreationMathematical SkillsMulti-taskingProblem ResolutionCommunication SkillsOrganizational Skills