What are the responsibilities and job description for the Analyst - Loan Servicing position at FARMER MAC?
With Whom You Will Work
The position will report directly to the Manager - Closing and Servicing. The position will liaison with other members of the Operations team as well as Client Services, Credit Servicing, Business Development, and Legal departments.
Where and When You Will Work
The position will be based in the Farmer Mac Johnston, Iowa, location, with the possibility of remote hire for exceptional candidate. Core business hours are Monday through Friday 8:00 am to 5:00 p.m. Central. Work outside of these times may be required for planned and unplanned activities to complete time sensitive projects.
Primary Responsibilities and Duties
- Evaluate and prepare loan recommendations to Credit Servicing on a variety of non-routine matters
- Change in terms and/or maturity date
- Collateral substitution
- Consent
- Death of a borrower, transfer of ownership interest
- Loan assumption
- Partial releases, substitution of property, condemnation, easements
- Product conversion
- Release of funds held in escrow for tenant improvements or holdback
- Subordination agreement
- Perform calculations for
- Debt Service Payments
- Revolver draws/paydowns
- Early Payoffs
- Default
- Maturity
- Answer calls and emails from borrower or field servicers promptly
- Responsible for annual certification and taxes, insurance, and UCC with field servicers
- Work closely with Legal and make recommendations on borrower situations (e.g., change in guarantor) to ensure alignment with all loan documents and policy expectations
- Oversee collection of payments, future loan maturities, and delinquent loans
- Complete changes due to service actions on loans in the servicing software to ensure maximum utilization is achieved for billing and reporting
- Maintain loan files with documentation of items that occur after loan closing
- Review boarding of new loans and prepare investor-related reports
- Assist with testing of new versions of servicing software
- Assist with internal and external audits and reviews
- Assist with training and staff development, monitoring workloads and job priorities for the servicing area. Participate in the formulation of policy and procedures
- Provide back-up to loan closing and others in loan servicing
- Perform other duties as assigned
Desired Skills and Qualifications
- Experience in customer service
- Ability to perform loan-related calculations
- Outstanding knowledge of Microsoft Office Suite
- Excellent communication and interpersonal skills
- Organized with the ability to prioritize and multi-task
- Reliable and professional
- Ability to work in a fast-paced environment while providing strong attention to detail
- Knowledge of the following documents
- Legal
- Closing
- Appraisals
- Environmental
- Knowledge of loan modification process is preferred
Education/Experience
Bachelor’s degree with paralegal certification (preferred) plus 4 years commercial or agriculture mortgage servicing experience; or equivalent combination of education and experience. Experience with taxes, insurance, and UCC verification is preferred.
Farmer Mac is an equal opportunity employer.
NO EMPLOYEE OR JOB APPLICANT WILL BE DENIED OPPORTUNITIES OR BENEFITS AT FARMER MAC BASED ON RACE, RELIGION, COLOR, SEX, AGE, NATIONAL ORIGIN, DISABILITY, VETERAN STATUS, CITIZENSHIP STATUS, GENETIC INFORMATION, OR ANY OTHER BASIS PROHIBITED BY APPLICABLE LAW.
Farmer Mac has adopted an affirmative action program plan to create a workforce that is an accurate reflection of the demographics of the qualified available workforce in the relevant job market. A summary report is available upon request.