What are the responsibilities and job description for the Loan Servicing Associate position at Superior National Bank?
Department: Loan Operations
Reports To: Loan Servicing Manager
Supervises: None
Last Updated: 03.2025
Summary: Input and update loan data in the financial institution’s computer system, prepare and verify loan documents for accuracy, and perform other duties as assigned and/or necessary
Major Duties & Responsibilities
Reports To: Loan Servicing Manager
Supervises: None
Last Updated: 03.2025
Summary: Input and update loan data in the financial institution’s computer system, prepare and verify loan documents for accuracy, and perform other duties as assigned and/or necessary
Major Duties & Responsibilities
- Perform all loan maintenance on various loan types including Commercial, Consumer, and Real Estate Loans.
- Provide superior customer service to all loan customers over the phone, email or occasionally in person.
- Assist lenders and customers researching answers to questions on their loans.
- Perform annual escrow analysis which requires researching shortages/overages, deficiencies and payment changes.
- Monitor insurance coverage on all loan collateral including paying escrowed insurance and monitoring flood insurance coverage when needed.
- Issue Forced Place Insurance when needed according to RESPA Regulations.
- Perform daily and monthly balancing of Loan GL accounts and various bills and payments.
- Process, maintain files on, and update computer information for new and paid loans including checking legal documents for proper vesting, legal descriptions, closing dates, and signatures.
- Understand and follow bank/department regulations, policies, and procedures, and participate in all compliance-related training
- Perform other duties as assigned.
- Bachelor’s or Associate degree in business, finance, accounting or related field preferred, or an equivalent combination of education and experience
- High school diploma or equivalent required
- Previous experience in a bank and/or lending environment desired
- Knowledge of Bank loan products desired
- Strong customer service background
- Strong verbal and written communication skills
- Ability to work under general supervision, manage multiple priorities, and meet deadlines
- Ability to retain large amounts of information
- Ability to understand different loan types, loan structures and variable rates
- Strong computer and technical skills
- Strong attention to detail
- Strong analytical, critical thinking, problem solving skills
- Ability to understand and comply with bank policies and regulations, including RESPA and others
