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Fulton Bank · 20 hours ago

Commercial Servicing Specialist

United States

Full-time

Remote

Entry Level

$17.75/hr - $25.48/hr

1+ years exp

Fulton Bank is dedicated to making a positive impact in local communities and promoting a digitally enabled work environment. They are seeking a Commercial Servicing Specialist responsible for complex loan servicing functions and high dollar transactions for prime commercial customers, including participation servicing and Small Business Administration reporting.

BankingFinancial Services

No H1B

Responsibilities

Monitors daily participation activity reports for financial transactions, reconciles and remits appropriate funds within twenty four hours of transaction date via wire, deposit account or check. Communicates transaction activity and any rate changes to participating bank. Periodically sends audit confirmations to participating banks to confirm the mutual accuracy of our system accruals and participation balances and percentage records

Small Business Administration Reporting and Servicing. Requires a thorough understanding of Small Business Administration rules, regulations and operating procedures. Assists in the set up of new Small Business Administration loans and modifications on the core system in addition to boarding the loans in a separate Small Business Administration system. Monitors daily Small Business Administration activity reports for financial transactions, reconciles and remits appropriate funds representing payoffs, delinquency payments on sold loans, and monthly remittances of guarantee fees and nondelinquent sold loan payments on the Small Business Administration 1502 report. Remittances must be submitted within the appropriate deadline for the various transactions in order to avoid penalties. Noncompliance could result in loss of Preferred Lender status with Small Business Administration. Verifies and maintains accurate system accruals, balances and sold percentages between the core system and PCFS

Sets up new escrow payee account segments on the core system. Reviews escrow payable reports and ensures timely payment of all escrow items including real estate taxes, property insurance and flood insurance to tax agencies or insurance companies. Late remittances could result in penalties. Responsible for ensuring receipt of new tax bills and or insurance premium invoices and updates core system. Performs annual escrow analysis and reviews for accuracy