What are the responsibilities and job description for the Loan Servicing Processor position at Bank of Utah?
Major Job Function:
Provides customer service and servicing for commercial loan customers, commercial construction loan customers, and SBA loan customers. Serves as a resource to all Loan Officers and Loan Assistants. Processes or inputs all loan types (SBA, Construction, Commercial, Letters of Credit, Master Notes, Leases, Bonds, etc.) to the DNA system. Completes Loan File Maintenance and services Commercial Construction draws and escrows. Processes loan payments.
Experience/Skills necessary to perform duties:
- High School Education
- Good communication skills
- Must be able to work at a high level of productivity with little supervision.
- Have a basic understanding of debits and credits
- Have a basic understanding of loan documentation
Regular Duties and Responsibilities:
- Books and verifies all loan types (SBA, Construction, Commercial, Letters of Credit, Master Notes, Leases, Bonds, Loan Participations (serviced and sold), etc.) to DNA.
- Completes Loan File Maintenance and Status Changes as requested on DNA.
- Set up commercial construction loans on Construct.
- Perform all duties of the draw process for Commercial Construction loans and escrow releases on the Construct system ensuring that the draw meets all the general policies and guidelines in order to process and complete the draw request. Duties of the construction draw process include, but is not limited to, verifying W-9 information on all vendors, verifying invoices, monitoring loan inspections to ensure work is complete, monitoring line items in the cost breakdown, issuing payment to vendors and verifying draws for co-workers before funds are released to vendors.
- Balance construction loans between DNA and Construct.
- Maintain escrow report to keep track of all third party escrow agreements.
- Provide customer service to both commercial loan and construction loan customers. Answering questions regarding payments and draws.
- Process interest reserve payments on commercial construction and development loans.
- Process loan payments.
- Responsible to seek out and complete Training courses that are relevant to this job description, that will help them improve their knowledge, skills, and abilities.
- Attendance is an essential function of the job.
- Other daily duties as assigned.
*The wage listed is within the range associated with this position. Actual compensation will be based on qualifications and experience.
