Loan Servicing Specialist II
Remote
Rate: $19-$23/hour
JOB DESCRIPTION
The Loan Servicing Specialist is responsible for a broad range of pre- and post-booking activities related to commercial loan and lease servicing.
This role ensures the accuracy and compliance of account changes, manages customer and vendor interactions, supports the full lifecycle of post-closing adjustments including rewrites, transfers and assumptions, contract unwinds, and customer verifications. Specialists at higher levels will demonstrate increased complexity of work, autonomy, and subject matter expertise.
Primary Responsibilities
- Reviews documentation for accuracy and compliance with internal policies and regulatory requirements
- Communicates with sales, credit, documentation, and funding to clarify or resolve conditions tied to rewrite approvals
- Coordinates with legal or compliance teams on redress or regulatory changes associated with rewrite transactions
- Manages transfer and assumption requests, including collection of required documents, verification of transferee credentials, and processing of ownership changes
- Manages full or partial contract unwinds, including coordination of refunds, invoice reversal and proper system documentation
- Conducts outbound calls to customers to complete verification, ensuring proper authentication and collection of confirmation details
- Documents all verification outcomes in the loan servicing system following established compliance guidelines
- Requests and monitors site inspection ensuring completion by approved vendors or internal resources
- Tracks inspection status and follow up on outstanding reports to support titling, funding, or credit decisions post-closing
- Reviews and clears open stipulations on booked transactions in coordination with internal departments
- Responds to servicing requests received from customers, vendors, or internal stakeholders post-booking
- Assists in redress efforts for booked transactions when required by legal, compliance, or internal audit
- Maintains thorough and compliant records of all post-booking activities
- Escalates discrepancies or exceptions to management as appropriate
- Researches and resolves more complex loan related issues which may include missing payments, disputed accounts history requests and general loan related questions
- Works under limited supervision following established guidelines and procedures
Requirements
- High School Diploma or GED Two (2) years of banking, finance, or accounting work experience
Preferences
- Accounting experience
- Knowledge of commercial lease and loan structures
Skills and Competencies
- Data entry and typing skills
- Proficient in Microsoft Excel and Word Strong organization skills and ability to multitask in a fast-paced environment
- Strong time management
- Strong attention to detail and ability to follow established procedures
- Strong written and verbal communication skills across departments and with external partners