Loan Servicing Specialist

Are you ready to take your career to new heights? We are looking for passionate individuals to join our team as a Loan Servicing Specialist, where you can make a real impact and grow alongside a financial institution that values your dedication.

Alamerica Bank is headquartered in Birmingham, Alabama.  With its vision of “financial freedom for all”, Alamerica Bank’s mission is to “provide the building blocks to financial freedom”.

As the Loan Servicing Specialist, you will be responsible for Loan Servicing, Booking, Escrow, and Collateral functions. Your Loan Servicing functions will entail performing daily maintenance into the Core system from basic to complex requests, working exception reports, processing maintenance Workflows, performing balancing tasks for various loan accounts, researching and clearing recon items, researching and resolving Credit Bureau disputes, resolving Lockbox rejects, performing different payment processing functions, processing non-performing loan and charge-off transactions, processing floor-plan and participation loan transactions, researching and responding to customer inquiries.

Your Loan Booking functions will entail onboarding loans to our bank’s Core system as they come from Loan Funding. You will be expected to handle onboarding all consumer and commercial loans and the mortgage portfolio and perform maintenance for renewals and changes in terms.

Your Loan Escrow functions will entail ensuring all real estate taxes, insurance premiums, and PMI/MIP premiums are properly disbursed and paid for by all borrowers who escrow these payments through their loans. You will additionally be responsible for running escrow analysis, performing maintenance on the bank’s Core system, posting payment exceptions, and tracking delinquent real estate taxes.

Your Loan Collateral functions will entail tracking all collateral held within the bank’s loan portfolio, performing collateral validation, ensuring borrowers obtain and maintain adequate insurance, verifying and tracking flood requirements, forcing place insurance, and communicating with the lending team and customers to protect the collateral position of the bank.

To thrive, you should have:

  • High School diploma or high school equivalent diploma is required.
  • Bachelor’s degree or completion of college coursework related to Business, Finance, Accounting, or other fields is preferred.
  • 2+ years of loan processing and servicing experience is required.
  • Basic knowledge of loan servicing and processing terminology.
  • In-depth knowledge of the commercial industry and current trends.
  • Strong attention to detail and accuracy.
  • Proficiency in computer skills using Microsoft software programs, specifically spreadsheet capabilities and database development.
  • Ability to multitask and meet deadlines.
  • Strong analytical skills and the ability to organize and maintain large amounts of data.
  • Characteristics including honesty, integrity, and professionalism.
  • Excellent communication skills, both written and verbal.

Your responsibilities as a Loan Servicing Specialist will include: 

  • Receives, validates, and completes basic to moderate complexity loan maintenance requests.
  • Processes loan payments and payoffs
  • Research payment issues and discrepancies.
  • Researches and resolves reconcilement items.
  • Research and processes un-posted items.
  • Compiles, reviews, and manages the distribution of funds for insurance loss claims.
  • Assists with general escrow analysis inquiries.
  • Performs loan research; able to answer and resolve basic to moderately complex inquiries of various loan types in commercial, consumer, and mortgage.
  • Responsible for Credit Bureau reporting and Credit Disputes.
  • Ensures that all collateral ticklers are set according to the lending agreements/documentation specifications.
  • Reviews, tracks, and updates collateral through reports and escalates exceptions.
  • Tracks and updates hazard insurance collateral; sends out reminder letters when necessary to meet government guidelines.
  • Proactively works all aged collateral items.
  • Disburses escrow payments and processes escrow refunds for all escrow types, including insurance, taxes, and PMI.
  • Forces places coverage for hazard insurance per guidelines and timeframes.
  • Handles all flood tracking, coverage review, and escrow disbursements while adhering to government guidelines.
  • Performs escrow analysis, distributions, refunds, and related customer support for escrow analysis.
  • Tracks delinquent real estate taxes and takes necessary actions as required to protect the bank’s interest.
  • Processes renewals, extensions, and modifications to the bank’s core system.
  • Scans, files, and re-files documents in the bank’s imaging system as related to loan servicing tasks performed.
  • Escalates questionable transactions and reoccurring issues to management clearly and promptly.
  • Provides exceptional customer service to our customers and business partners.
  • Consistently meets all regulatory and legal guidelines surrounding all assigned functions.
  • Observes all security, privacy, and compliance requirements.
  • Performs other duties as assigned.

Best-in-Class Benefits and Perks:

We value our employees’ time and efforts. Our commitment to your success is enhanced by competitive compensation and an extensive benefits package including:

  • Comprehensive health coverage: Medical, dental, and vision insurance provided.
  • Robust retirement planning: 401(k) plan available.
  • Financial security: Life and disability insurance for added protection.
  • Flexible financial options: Health savings and flexible spending accounts offered.
  • Well-being and work-life balance: Paid time off and holidays and flexible schedules.

Plus, we work to maintain the best environment for our employees, where people can learn and grow with the company. We strive to provide a collaborative, creative atmosphere where everyone feels encouraged to contribute to our processes, decisions, planning, and culture.

Ready To Elevate Your Career?

Join us in reshaping the future of banking as a Loan Servicing Specialist at Alamerica Bank. Apply now and be part of a legacy of excellence and innovation! Please send your resume to alamerica@alamericabank.com.

We are an equal opportunity employer that welcomes and encourages diversity in the workplace. We do not discriminate on the basis of race, color, religion, marital status, age, national origin, ancestry, physical or mental disability, medical condition, pregnancy, genetic information, gender, sexual orientation, gender identity or expression, veteran status, or any other status protected under federal, state, or local law.