Commercial Loan Servicing Specialist
Company: Flagstar Bank
Posted on: January 26, 2023
The Commercial Loan Operations Specialist's main function is a
combination of several of the following: booking commercial loan
facilities to the core accounting system, managing a book of
participation loans, processing transactions, balancing general
ledgers, funding loans, account maintenance, paying invoices
related to loan bookings, internal and external customer service,
Swap servicing with third party vendor, reviewing daily reports and
maintenance of spreadsheets. This list may not be all inclusive.
All of these functions, individually or in concert, create
efficiencies, increased service levels to internal and external
customers plus ensure proper accounting of commercial loans on the
- Loan Booking - Requires a thorough knowledge and understanding
of commercial loan documentation and the accounting system to which
they are booked. Must be extremely organized in thoughts and
procedures. Is responsible for timely and accurate input and the
ability to question when any documentation is outside the norm.
Must be able to book new, renewed, extended loans as well as
Letters of Credit, Swap and ACH exposures.
- Transaction Processing/Daily Report Review - Post transactions
including payments, pay downs, payoffs, advances, adjustments to
accounting system. Requires a complete and thorough understanding
of loan system in order to post properly. The daily report review
uncovers system errors that would not otherwise be caught.
- General Ledger balancing/Swap servicing and invoices - All
transactions flow through two general ledgers that must be balanced
daily. There are hundreds of entries and all must be accounted for
and organized. Swap servicing includes monthly manual rate changes
and 2-3 times a month reconciling with the third party vendor, as
well as new Swap monetary activity.
- Participation Loan Booking and Monitoring: Owning a group of
participation loans, which includes daily, weekly, monthly updates
for rate changes, advances and payments. Must ensure that we stay
in balance with lead bank and the monetary transactions and rate
changes are done timely to avoid any unnecessary past due or out of
balance situations. Must be able to calculate interest by hand and
communicate clearly both orally and in writing. Requires wires to
be created and/or verified in very large dollar amounts.
- Updating Borrowing Base Availability, Cross Training, Loan
Maintenance and Updating Various Spreadsheets: When notified of
borrowing base changes, must make changes to Core system within the
day to ensure availability of funds for customers. Updates various
spreadsheets to ensure proper recording of different types of
loans, exposure, etc. Cross trains to understand the basics of
other participation loans and transaction processing and other
department functions. Make maintenance changes to core system as
requested by internal staff.
- Ensures compliance with applicable federal, state and local
laws and regulations. Completes all required compliance training.
Maintains knowledge of and adhere to Flagstar's internal compliance
policies and procedures. Takes responsibility to keep up to date
with changing regulations and policies.
- High School Diploma, GED, or foreign equivalent required.
- 5+ years in commercial loan operations or commercial servicing;
- Must have considerable exposure to commercial loan
- Demonstrated ability to understand and interpret commercial
- Previous experience in booking commercial loans and
participation loan processing.
- Good analytical and problem solving skills.
- Excellent verbal and written communication skills.
- Willingness to work in a team environment.
- Intermediate understanding of MS Excel.
- Automated Financial Systems (AFS) experience preferred.
For Internal use only: Job Band H-Hourly
Keywords: Flagstar Bank, Troy , Commercial Loan Servicing Specialist, Other , Troy, Michigan
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