The Village Bank

  • Senior Loan Servicer

    Job ID
    # of Openings
    Regular Full-Time
    Retail Lending
    Location : Location
  • Overview

    This is a detail orientated position responsible for performing pre and post-closing duties relating to the servicing of the Bank’s retail and commercial loans. Support functions include but are not limited to, customer service for existing loans, loan reporting, transaction processing, escrow disbursements, pay-off calculations, collections, account reconciliations, quality control and project management support. By following The Pledge; assists in the attainment of departmental goals and promotes other banking products and services to our customers.                 


    • Set up and book new loans on the system.
    • Maintain and track collateral, documenting and securing appropriately.
    • Update automobile title files, process title transfers. Communicate with RMV for missing documentation
    • Process daily transactions and contacts customers or branch personnel for clarification when needed. Oversee and review file maintenance changes and weekly index changes.
    • Provide customer assistance with issues relating to loans, payments, tax escrow, insurance, and collateral as well as support branch personnel in customer service.
    • Maintain and track homeowners’, auto and flood insurance policies and related correspondence.
    • Update databases, process lien releases, monitor hazard (homeowners’) insurance coverage and amounts.
    • Review exception loan bills and forwards onto to customers after verification and/or correction.
    • Respond to credit disputes submitted by credit reporting agencies in accordance with FCRA. Assist customers with responses to credit dispute.
    • Calculate loan payoff figures and prepare payoff letters and related correspondence.
    • Input weekly rate indexes; review ARM changes, maintain ARM history documentation.
    • Monitor delinquencies, and perform collection procedures.
    • Prepare discharges, return documents to customers, release collateral, and cancel notes. Process closed loan files.
    • Process note modification requests and prepare Modification Agreement form; perform file maintenance relative to the modification.
    • Assist Operations and Accounting on matters of returned or rejected payments.
    • Assist with quarterly and annual escrow payments and analysis, including tax disbursements, delinquent tax tracking and reconciliation of associated accounts.
    • Coordinate tax reports between interested parties, i.e. tax services, core system, and municipalities for annual escrow disclosure statements/corrections. Review final reports and prepare tax overage refunds.
    • Oversee payment conversions on construction and equity loans, complete changes in core system and notify customers.
    • Reconcile GL for, FASB91 fees, and loans in process.
    • Review and audit daily/monthly system reports as assigned.
    • Review closed loan report on a daily basis for 1st and 2nd mortgages, auto and passbook loans and all other loans.
    • Responsible and accountable for accuracy and quality control of work produced.
    • Balance investor accounts and prepare reports regarding Secondary Market loans.
    • Provide input with core system processing vendor) regarding problem resolution, loan processing, payment processing, account history and updating customer information.
    • Assist with the preparation of Management and Board Reports
    • Monitor closing dates of pending loans, and communicate with closing attorney as needed.

    Quality Control:

    • Responsible for all loan types quality control/post-closing audits to ensure that all regulatory requirements have been met.



    • Perform related lending services and clerical work as needed; generate reports, answer phones, and provide general banking information to customers.
    • Participate in Community Commitment Initiatives (CCI).


    High school diploma with one or more years of banking experience, preferably in loan servicing.


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