Loan Servicing Specialist

Hello, I am Cindee Himelright, VP Portfolio Manager-Residential Construction & Consumer at Bank of Utah. Bank of Utah is one of Utah's largest community banks, privately owned community banks. Nasdaq ranked us Best Bank in Utah in 2025! Here we strive to unlock the potential of our team members, clients, and community. We act with integrity in every decision, build trust through every interaction, and exceed expectations at every opportunity. We seek to responsibly create lasting prosperity today and for generations to come.

We are currently looking for a Loan Servicing Specialist to work Monday-Friday at 2605 Washington Blvd., Ogden, UT. This Specialist is responsible to board and balance new loans, review and process all accounts payable/draw items efficiently and timely in accordance with bank policy and procedure. Monitor progress of construction projects versus disbursement of construction funds.  Provide outstanding customer service in handling exceptions to policy and procedure and resolving customer issues/problems relative to borrowers, builders, subcontractors, suppliers and loan officers.  Perform all functions relative to construction loan servicing.  Responsible for monitoring status of progression of all loans and reporting non progress to management. Assisting with the preparation and review of construction loan extensions and/or modifications. 

Job Qualifications:

• 1-2 years Construction Loan Servicing experience preferred
• Basic understanding of construction building process
• CORE and draw software experience preferred but not required
• Good understanding of debits and credits
• Well-organized; detail and goal oriented
• Familiar with Microsoft Word and Excel programs
• Great Customer Service Skills
• Excellent communication skills (oral and written)
• Able to handle stress of meeting deadlines
• Ability to work well in a team environment as well as independently
• Must be able to work at a high level of productivity with little supervision

Benefits of Working with Us:

Bank of Utah's comprehensive benefits package includes:

• Great work-life balance, with a Monday-Friday schedule
• Competitive pay and benefits, including medical, dental and vision plans
• 401(k) plan and match up to 5 percent, plus opportunities to participate in our employee stock ownership program (eligibility requirements must be met)
• 12 paid bank holidays paid time off
• Volunteer opportunities to make a difference in the communities where you work and live
• Awards and recognition to celebrate you and your colleagues for living the bank's values

Regular Duties and Responsibilities:

Directly responsible for all functions of the Construction Draw Department.

• Book all new Construction loans to draw software as well as balance GL accounts
• Verify the balancing of new Loans between CORE & draw software
•  Image closing documents into document storage and prepare paper file for long term storage
• Directly involved with each step of the draw process:
  • Pull draws daily and order inspections (when applicable)
  • Verify signor on authorizing to disburse document matches the signor on the draw request form
  • Verify vendor information, including W-9 form on file as well as IRS validation, request updated W-9 as applicable. Vendor on draw request form must match invoicing.
  • Review invoices for: date, property/job site, borrower, amount and material supplied or work performed.
  • Analyze the inspection report to determine if it supports the work completed per draw request
  • Analyze percent complete versus percent disbursed
  • Analyze the availability of funds available in a category or line item
  • Communicate issues or concerns with appropriate parties promptly and courteously
  • Input draw/vendor information into draw software, issues payment of checks, remote printing of some checks, review checks for accuracy and create tickets or block transaction in CORE. Complete final verification process prior to release of funds
  • Balance draw software & CORE
• Process monthly interest payments via draw software and CORE
• Prepare payoff quotes for title companies, loan officers and others
• Receive and process payoff checks. Responsible for processing each step of a paid off construction file:
• Book & image all Extensions and Modifications
• Prepare Reconveyances and send to the county for recording. Upon return of the recorded Reconveyance, image into document storage, send the borrower the original Note (stamped “paid”), plus copies of recorded Reconveyance
• Box paid off files and store in vault/warehouse (7 years)
• Track and obtain Title Policies and recorded Trust Deeds in a timely manner to insure Bank of Utah’s lien position. Review title policies and recorded trust deeds meet the requirements set forth in our procedures.
• Monitor hazard insurance policy expiration dates and coverage amounts, obtain updated policy from insurance company as needed
• Assist with the preparation of  Extension Agreements and/or Loan Modifications
• Balance check registry
• Image inspection to document storage timely
• 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
• Attend meetings as required
• Keep management informed of any significant issues or concerns
• Other duties as assigned

*The wage listed is within the range associated with this position. Actual compensation will be based on qualifications and experience.