What are the responsibilities and job description for the Loan Servicing Specialist position at Neighborhood Development Center?
The Loan Servicing Specialist plays an important role in supporting NDC’s lending operations by coordinating loan committee activities, preparing loan documentation, maintaining accurate records, and providing ongoing loan servicing support. This position is also responsible for monitoring borrower accounts, supporting delinquency resolution and collections efforts, and ensuring timely communication and documentation throughout the life of the loan.
Key Responsibilities
Loan Committee administration
• Schedule all internal and external loan committee meetings
• Develop and create the loan committee meeting agenda
• Organize and send out the loan packages to all members and staff on a timely basis
• Document and record all meeting minutes and notes
Closing Documentation
• Create all loan closing documentation including approval and denial letters
• Record/file collateral (UCC, Vehicle Lien and Mortgage)
• Perform quality review of all loan files (e-files and paper)
Loan Servicing
• Conduct one-on-one meetings with Loan Officers and Loan Portfolio Manager to review loan portfolio
• Create loan modification agreements and work with the loan officer and borrower to resolve the delinquencies
• Keep close communication with borrowers during the life of the loan and collect any update documentation needed.
• Collect quarterly or annually financial statements, tax returns, insurance certificates, and other required documentation to ensure compliance with loan requirements.
• Prepare the payoff packet, including release of collateral
Collections
• Monitor and communicate with borrowers who become delinquent
• Create and send out demand letters on a timely basis
• Work with a collection agency for final collection efforts
Special Programs
• Provide administrative support for special loan and grant programs
• Coordinate workshops including scheduling, logistics, participant communications, and preparation of materials
• Track lending program outcomes and maintain accurate records for reporting and compliance purposes
• Prepare lending program reports and summaries for internal and external stakeholders
• Process program-related invoices and support timely payment coordination
Other Duties
• Gather and provide loan activity data to NDC staff for reports
• Organize Lending Team weekly meetings
• Participate in networking events
• Assist with Lending Process and Procedures Guidance
• Assist with organizing annual staff and committee retreats.
Benefits provided to full-time employees
- Comprehensive medical, dental, vision, and life insurance coverage
- Health Savings Account (HAS)
- Teladoc virtual healthcare services, providing convenient access to licensed physicians, including virtual visits and in-home care when medically appropriate.
- 401(K)
- Paid Time Off (PTO)
- Earned Sick and Safe Time (ESST)
- Earned Paid Family Medical Leave (PFML)
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