Digital Federal Credit Union
Commercial Loan Servicing Specialist, Full-Time, Hybrid MA
Digital Federal Credit Union, Marlborough, Massachusetts, us, 01752
Schedule
Monday - Friday 8:00am-5:00pm
What You’ll Do Primary responsibility to support Commercial Lending through processing commercial loans, interfacing with members, supporting loan officers and providing customer service to internal and external customers.
There are three sub‑functions that the Commercial Loan Servicing Specialist (CLSS) may be assigned:
Loan Operations
Loan Officer Support
Small Business Support
Essential Functions – 1 Loan Operations:
Prepare new loan documentation (Note and/or Loan Agreement) on loans that are not real estate secured and prepare Amendments to Notes and/or Loan Documents as described in the appropriate approval document.
Review Commitment Letters prior to them being mailed to ensure the commitment letter matches the approval document.
Within regulatory timeframes, create mortgage discharges, assignments and assess the appropriate fees associated, if applicable.
Perform pre- and post-closing reviews of all new loans and amendments for compliance and accuracy and work closely with closing attorneys and relationship managers to ensure all changes are completed and that the loan was closed in compliance with the approval.
Research legal file to provide requested documents or answers to relationship managers, attorneys, or members.
Book and modify commercial loans by interpreting promissory notes and modification agreements to reflect the contract in the system.
Review and approve mailing of all commercial loan bills and payment notices.
Review input of all new loans booked on the XP2 system.
Review various daily monitoring reports to ensure payments were processed correctly.
Monitor all declined, withdrawn, or approved but not accepted loan applications and completing Lost Business Forms.
Update outstanding loan documentation and financial information and distribute Suntell financial tracking and documentation exception reports.
Prepare the 1502 Colson Report for all DCU’s SBA-guaranteed loans.
Report HMDA loans and complete the LAR for each applicable loan.
Perform simple and complex scheduled and non-scheduled maintenance functions, payment and disbursement processing, and set up new Business Visa accounts on FDR and Springboard.
Research and process all servicing matters relating to Business Visa accounts.
Perform other job-related duties as assigned by Manager(s).
Essential Functions – 2 Loan Administrator:
Assist daily requirements of a team of Senior Commercial Lenders, Commercial Lenders, and Portfolio Managers.
Prepare Commitment Letters and CPS Adjustments and communicate with Members, prospective Business Members, and state and municipal agencies.
Take action and track Exception Reporting, Matured Loan Reporting, Tax Delinquency Reporting, Insurance Tracking, Financial Statement requirements and Loan Delinquencies.
Provide quality customer service to both external and internal customers.
Perform general administrative functions such as typing memos, answering phones, preparing reports, and filing as needed.
Support special assignments and projects as needed.
Ensure compliance with applicable laws, regulations and guidelines including Fair Lending, KYC, BSA, and anti-money-laundering policies.
Assist in Reg B compliance for all loans and prepare and distribute a variety of recurring reports.
Cross-sell DCU’s products and services to Commercial Members and affiliates.
Perform other job-related duties as assigned by Manager(s).
Essential Functions – 3 Small Business Support:
Trial and Delinquency Reporting.
Open memberships for loan closing.
Package loans for underwriting by SBS, Credit Department, or Octant.
Gather Documents, Pull Credit, research collateral values, create coversheets.
Prepare and send approval letters on Small Business Loans.
Book Visa, Vehicle, and Equipment for Small Business.
Perform post-closing requirements on Small Business Loans.
Create and send term sheets & commitment letters.
Update monthly sales spreadsheets and Reg B letters.
Respond to inquiries regarding daily NSF report.
Separate and save files using Adobe Acrobat; FedEx documents as needed.
Screen and respond to Service Requests in Pega (payroll/merchant services, LOC, Membership questions).
Account and loan maintenance (CPI, Titles, Insurance, M-Holds, Address Changes).
Support all aspects of Pega including loan processing.
Review exception report monthly and collect required information.
Upload documentation to Octant portal and contact borrowers regarding Past Due Taxes, Expired Insurance, and Delinquent payments.
Interact with business members to welcome, cross-sell, answer questions, solve issues, and provide annual review information.
Answer phones for the department during business hours.
Other duties as assigned.
What You’ll Need
High School diploma or equivalent; some college a plus.
0 to 3 years financial institution experience; previous business loan experience a plus.
General knowledge of banking products and services.
Capability to understand and work with legal documentation preferred (training will be provided).
Ability to handle multiple priorities; accuracy and attention to detail a must; self-directed with good follow-through skills.
Capacity to recognize cross-sell opportunities.
Competency to conform to policies and procedures.
Additional Eligibility Requirements:
Effective oral, written and interpersonal communication skills.
Excellent organizational and time management skills; ability to work with minimal or no supervision.
Typing skills; general computer access and operation; fluency with Microsoft Word, Excel and Outlook.
What We Do DCU is the largest credit union headquartered in New England, serving more than one million members in all 50 states. With over 1,700 team members, we strive to make DCU a great place to work with an excellent work‑life balance and a community that cares.
DCU is an equal‑opportunity employer, and we value diversity, inclusion, and equity at our company. We evaluate qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.
If you’re applying for a job and need a reasonable accommodation for any part of the employment process, please send an email to career@dcu.org and let us know the nature of your request and contact information. Please note that only those inquiries concerning a request for reasonable accommodation will be responded to from this email address.
DCU is not currently offering Visa transfer/ sponsorship for this position.
Expected Pay Range $21.50 – $24.10
Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the
Know Your Rights
notice from the Department of Labor.
#J-18808-Ljbffr
What You’ll Do Primary responsibility to support Commercial Lending through processing commercial loans, interfacing with members, supporting loan officers and providing customer service to internal and external customers.
There are three sub‑functions that the Commercial Loan Servicing Specialist (CLSS) may be assigned:
Loan Operations
Loan Officer Support
Small Business Support
Essential Functions – 1 Loan Operations:
Prepare new loan documentation (Note and/or Loan Agreement) on loans that are not real estate secured and prepare Amendments to Notes and/or Loan Documents as described in the appropriate approval document.
Review Commitment Letters prior to them being mailed to ensure the commitment letter matches the approval document.
Within regulatory timeframes, create mortgage discharges, assignments and assess the appropriate fees associated, if applicable.
Perform pre- and post-closing reviews of all new loans and amendments for compliance and accuracy and work closely with closing attorneys and relationship managers to ensure all changes are completed and that the loan was closed in compliance with the approval.
Research legal file to provide requested documents or answers to relationship managers, attorneys, or members.
Book and modify commercial loans by interpreting promissory notes and modification agreements to reflect the contract in the system.
Review and approve mailing of all commercial loan bills and payment notices.
Review input of all new loans booked on the XP2 system.
Review various daily monitoring reports to ensure payments were processed correctly.
Monitor all declined, withdrawn, or approved but not accepted loan applications and completing Lost Business Forms.
Update outstanding loan documentation and financial information and distribute Suntell financial tracking and documentation exception reports.
Prepare the 1502 Colson Report for all DCU’s SBA-guaranteed loans.
Report HMDA loans and complete the LAR for each applicable loan.
Perform simple and complex scheduled and non-scheduled maintenance functions, payment and disbursement processing, and set up new Business Visa accounts on FDR and Springboard.
Research and process all servicing matters relating to Business Visa accounts.
Perform other job-related duties as assigned by Manager(s).
Essential Functions – 2 Loan Administrator:
Assist daily requirements of a team of Senior Commercial Lenders, Commercial Lenders, and Portfolio Managers.
Prepare Commitment Letters and CPS Adjustments and communicate with Members, prospective Business Members, and state and municipal agencies.
Take action and track Exception Reporting, Matured Loan Reporting, Tax Delinquency Reporting, Insurance Tracking, Financial Statement requirements and Loan Delinquencies.
Provide quality customer service to both external and internal customers.
Perform general administrative functions such as typing memos, answering phones, preparing reports, and filing as needed.
Support special assignments and projects as needed.
Ensure compliance with applicable laws, regulations and guidelines including Fair Lending, KYC, BSA, and anti-money-laundering policies.
Assist in Reg B compliance for all loans and prepare and distribute a variety of recurring reports.
Cross-sell DCU’s products and services to Commercial Members and affiliates.
Perform other job-related duties as assigned by Manager(s).
Essential Functions – 3 Small Business Support:
Trial and Delinquency Reporting.
Open memberships for loan closing.
Package loans for underwriting by SBS, Credit Department, or Octant.
Gather Documents, Pull Credit, research collateral values, create coversheets.
Prepare and send approval letters on Small Business Loans.
Book Visa, Vehicle, and Equipment for Small Business.
Perform post-closing requirements on Small Business Loans.
Create and send term sheets & commitment letters.
Update monthly sales spreadsheets and Reg B letters.
Respond to inquiries regarding daily NSF report.
Separate and save files using Adobe Acrobat; FedEx documents as needed.
Screen and respond to Service Requests in Pega (payroll/merchant services, LOC, Membership questions).
Account and loan maintenance (CPI, Titles, Insurance, M-Holds, Address Changes).
Support all aspects of Pega including loan processing.
Review exception report monthly and collect required information.
Upload documentation to Octant portal and contact borrowers regarding Past Due Taxes, Expired Insurance, and Delinquent payments.
Interact with business members to welcome, cross-sell, answer questions, solve issues, and provide annual review information.
Answer phones for the department during business hours.
Other duties as assigned.
What You’ll Need
High School diploma or equivalent; some college a plus.
0 to 3 years financial institution experience; previous business loan experience a plus.
General knowledge of banking products and services.
Capability to understand and work with legal documentation preferred (training will be provided).
Ability to handle multiple priorities; accuracy and attention to detail a must; self-directed with good follow-through skills.
Capacity to recognize cross-sell opportunities.
Competency to conform to policies and procedures.
Additional Eligibility Requirements:
Effective oral, written and interpersonal communication skills.
Excellent organizational and time management skills; ability to work with minimal or no supervision.
Typing skills; general computer access and operation; fluency with Microsoft Word, Excel and Outlook.
What We Do DCU is the largest credit union headquartered in New England, serving more than one million members in all 50 states. With over 1,700 team members, we strive to make DCU a great place to work with an excellent work‑life balance and a community that cares.
DCU is an equal‑opportunity employer, and we value diversity, inclusion, and equity at our company. We evaluate qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.
If you’re applying for a job and need a reasonable accommodation for any part of the employment process, please send an email to career@dcu.org and let us know the nature of your request and contact information. Please note that only those inquiries concerning a request for reasonable accommodation will be responded to from this email address.
DCU is not currently offering Visa transfer/ sponsorship for this position.
Expected Pay Range $21.50 – $24.10
Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the
Know Your Rights
notice from the Department of Labor.
#J-18808-Ljbffr