Job Description

Responsible for all servicing aspects of the commercial loan portfolio. This position performs a variety of task in servicing commercial loans including processing new loan boarding, processing payments, reserves, escrows, modifications, and member service.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

1.     Loan boarding for new loans

2.     Process payments (mail, and wires)

·       Monitor payment exceptions

3.     Set up ACH payments

4.     Send billing notices

5.     Provide member service to members with questions, and changes (address changes).

6.     Process escrow disbursements for taxes and insurance

·       Process escrow analysis

7.     Process reserve disbursements: (including collecting required documentation)

·       Interest reserves

·       Repair reserves

·       Replacement reserves

·       Tenant improvements/leasing commissions (With a cap amount)

·       Holdbacks

·       Payment reserve/cash collateral

8.     Process Earnout disbursements (including collecting required documentation)

9.     Non-escrowed property tax monitoring

10.  Non-escrowed insurance monitoring including following up on with insurance agent and borrower. Including processing and recommending force placing insurance when applicable.

11.  Process protective advance for property taxes or as needed.

12.  UCC administration

·       Renewals

·       Terminations

13.  Loan payoffs

·       Process payoff quotes

·       Process payoff statements

·       Monitor payoff quote reports for relationship retention

·       Monitor payoff reports showing how many payoffs have been processed

·       Process reconveyance on loan payoffs

14.  Process/review yearend tax reporting

·       1098

·       1099

15.  Update system with modification changes

16.  Update system with Index changes

17.  Update system with special assets info changes when applicable

18.  Monitor delinquencies with portfolio manager

19.  Process delinquency notices

20.  Assist portfolio manager with collection efforts

21.  Process insurance claims for property damage

22.  Prepare amortization schedules for members and for new modifications

23.  Set up ticklers in the servicing system for post-closing items, insurance, taxes and annual review documentation.

KNOWLEDGE, SKILLS AND ABILITIES:

·       Experience with Loan Servicing, Banking, Commercial Real Estate lending/Business Lending, and Loan Administration

·       Basic knowledge of general accounting, including reconciliations

·       Organizational skills

·       Ability to work under hard deadlines

·       Excel skills is a must, as well as word, and typing

·       Excellent verbal and written communication skills.

·       Experience with Customer Service

·       Ability to analyze and solve problems

·       Ability to interact effectively with staff, members and others encountered in the course of work

·       Ability to learn and apply new information or skills

·       Ability to observe and interpret people and situations

·       Ability to perform highly detailed work on multiple, concurrent tasks

·       Ability to use work effectively with different level of staff and departments.

·       Ability to use written and oral communication skills

·       Ability to work under intensive deadlines

EDUCATION, TRAINING AND EXPERIENCE:

Potential candidates for this position must meet the following requirements:

• Potential candidates for this position must meet the following requirements:
• AA Degree in related field
• Minimum of 10 years’ experience with Commercial Loan Servicing
• Minimum of 5 years’ experience with Business Banking and Commercial Real Estate Lending
• Experience with property and liability insurance practices
• Experience with escrow disbursement practices
• Experience with loan modifications

Company Description

Kinecta Federal Credit Union is one of the nation's leading Credit Unions, with more than $4 billion in assets and serving over 285,000 member-owners across the country. From the beginning, we have helped our members fulfill their dreams. In 1940, Hughes Aircraft Employees Federal Credit Union was an idea born from a simple inconvenience: employees of the Hughes Aircraft Company were spending too much lunchtime driving downtown to handle their finances. So why not start a credit union, right there at the plant? “I went to Mr. Hughes’ office in Hollywood and talked to his secretary Nadine. I gave her all the facts and Mr. Hughes said, ‘Sure. Start the Credit Union. Just keep my name clean. I don't want anything funny going on.’ I said, you can be sure of that. And Hughes Credit Union was born.”

• Lou Merandi, Credit Union Founder & Hughes Aircraft Chief Tool Designer, 1937-1981 In October 1940 a United States government charter was issued to establish the Credit Union. Each of the 12 founders deposited $5 to make the Credit Union's total assets $60. Membership cost 25 cents and the maximum loan amount was $200. We launched our name change to Kinecta Federal Credit Union in July 2001, after serving our members proudly as Hughes Aircraft Employees Federal Credit Union for more than 60 years. As we continue to expand our position as a leader in the financial services industry our Kinecta name and logo represent our continued commitment to delivering unequalled value to the members-owners of Kinecta Federal Credit Union. Our promise: Every aspect of our organization, from our employees, to our communications, to our products and services, sets standards of excellence by remembering that our business is serving our members. And we’re committed to doing that better than anybody.