Loan Servicing Specialist

Job Title: Loan Servicing Specialist I

Location: Willards, Maryland

Reports To: AVP Loan Administration

Position Type: Full-Time

Job Summary:

The Loan Servicing Specialist I is an entry-level lending operations professional responsible for supporting post-closing loan processing, loan boarding, servicing setup, record maintenance, and customer follow-up activities. This position ensures accurate loan data entry, proper documentation, regulatory compliance, and a high-quality customer experience following loan closing.

This role is ideal for a detail-oriented individual who enjoys working in a team environment while supporting the financial needs of the local community.

Key Responsibilities:

Loan Boarding & Post-Closing Review:

• Enter new loans into the core banking/servicing system 
• Validate loan data including borrower information, interest rates, payment schedules, escrow setup, and collateral records 
• Review closed loan packages for completeness and accuracy in accordance with bank policies and regulatory requirements 
• Perform final data entry into the core processing system, including loan terms, escrow accounts, payment schedules, and collateral records
• Reconcile loan setup with the general ledger and confirm proper disbursement of funds
• Ensure documents are properly labeled and indexed within the electronic document management system 
• Process and file necessary titles and liens with appropriate government agencies 

Loan Servicing Support:

• Process daily loan payments and apply them accurately to customer accounts 
• Process loan payoffs, modifications, renewals, and maintenance requests 
• Handle routine account maintenance including address updates, due date changes, and system corrections 
• Assist in generating payoff statements and verifying balances 
• Maintain accurate loan records within servicing systems 
• Respond to borrower inquiries regarding loan terms, balances, and servicing issues 
• Collaborate with internal departments to resolve servicing issues 

Insurance & Collateral Tracking:

• Monitor and update insurance records for secured loans (homeowners, flood, auto, etc.) 
• Follow up with borrowers or agents for missing or expired insurance documentation 
• Ensure insurance coverage meets bank policies and regulatory standards 
• Coordinate with force-placed insurance providers when necessary 

Post-Closing Customer Experience & Relationship Development:

• Proactively contact customers following loan closing to ensure satisfaction with the loan process
• Confirm customers understand payment terms, servicing procedures, and account access options
• Identify opportunities to assist customers with additional banking services including deposit accounts, online/mobile banking, treasury services, or future lending needs
• Relay customer feedback and service opportunities to loan officers or appropriate departments
• Promote a positive, relationship-focused experience aligned with the Bank’s community banking mission

Compliance & Operational Standards:

• Learn and follow servicing procedures, regulatory guidelines, and internal compliance standards 
• Maintain confidentiality of borrower and bank information 
• Support audit requests and quality control reviews as assigned
• Assist with special projects and departmental initiatives 

Education & Experience:

• High school diploma or equivalent required 
• 0–1 year of experience in banking, finance, or administrative support (loan experience preferred) 
• Prior exposure to loan servicing or operations is helpful but not required 

Knowledge & Skills:

• Strong attention to detail and organizational skills 
• Excellent communication and follow-up abilities 
• Customer service mindset and team-oriented approach 
• Ability to handle confidential information with discretion 
• Proficiency in data entry and Microsoft Office (Word, Excel) 
• Ability to multitask and prioritize in a fast-paced environment 

Work Environment:

Salary and Benefits: