What are the responsibilities and job description for the Loan Servicing Specialist II position at East West Bank?
Introduction
Since 1973, East West Bank has served as a pathway to success. With over 120 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates’ potential for career advancement. Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With a strong foundation, and enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.
Overview
The Loan Servicing Specialist II is responsible for a variety of activities to support Loan Servicing with a focus on financial activities. The responsibilities for this role include but are not limited to; Loan Advances, Payment processing on more complex products, Escrow analysis and its disbursement, invoice processing and its G/L reconciliation. Responsibilities also include reconciliation to General Ledger and end of day balancing.
Responsibilities
- Process all Loan Advances on simplex products ensuring proper authorization and commitment availability.
- Process non-standard Loan Payments on various products.
- Process Loan Demand Statements on simplex products ensuring all principal and interest are included and inclusive of all appropriate fees
- Process Loan Payoffs on simplex products and closing of commitments.
- Prepare Wire Instructions and input into the Wire System and/or Credit Funds to the borrower’s deposit account
- Perform Escrow Analysis as required by state with appropriate refunds and/or loan amortization
- Disburse all escrow payments for tax and insurance
- Perform MERS activities
- May perform SBA reporting and its portfolio management and disbursement to Colson
- Process miscellaneous maintenance transactions
- Perform End-of-Day balancing ensuring all activities are reconciled with the General Ledger
- Respond to internal customer inquiries
- Provide guidance and training to junior Loan Servicing Specialist
- Work on special projects as assigned by Manager related to the Data Accuracy and accurate compliance requirements.
- Perform other duties as assigned
Qualifications
- Bachelor Degree in Finance or Accounting Degree preferred, or equivalent work related experience
- Minimum 3 years of experience in the Loan Servicing Industry
- Loan system experience required including document imaging system
- Proficient in Microsoft Office
- Excellent written and verbal communication skills required
- Good organizational, analytical and problem solving skills
- Ability to handle multiple tasks with excellent attention to detail
- Ability to organize and maintain a high volume work environment
- Ability to adapt quickly to changes and perform in a fast paced environment
- Ability to build effective relationships as needed to effectively address issues and obstacles
Compensation
The base pay range for this position is USD $19.00/Hr. - USD $26.00/Hr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.Salary : $19 - $26
