Loan Servicing Specialist at Bank of Utah

Ogden, Utah, United States -

Full Time

Start Date

Immediate

Expiry Date

12 Jun, 26

Salary

0.0

Posted On

14 Mar, 26

Experience

0 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Construction Loan Servicing, Customer Service, Loan Monitoring, Loan Modifications, Debits and Credits, Organization, Detail Oriented, Goal Oriented, Microsoft Word, Microsoft Excel, Typing Speed, Communication Skills, Stress Management, Teamwork, Multitasking, Productivity

Industry

Banking

Description

Thanks for your interest in applying to the Bank of Utah. My name is Tiffany Flint, and I work as AVP Mortgage Closing Manager. As an introduction to our company, the Bank of Utah was founded in 1952, and is one of Utah’s largest privately owned community banks. We were named Nasdaq’s Best Bank in Utah for 2025 and a Top 100 Fastest Growing Company. Our Mission Statement: We strive to unlock the potential of our team members, clients, and community. We act with integrity in every decision, build trust through every interaction, and exceed expectations at every opportunity. We seek to responsibly create lasting prosperity today and for generations to come. Job Opening Details: If our mission statement piques your interest, we encourage you to apply for the currently open position of Loan Servicing Specialist to work Monday - Friday 8:00-5:00 at our Branch located at 2605 Washington Blvd. Ogden, UT. This Loan Servicing Specialist responsible to make certain all construction loan draws are processed efficiently and timely in accordance with bank policy and procedure. Monitor progress of construction projects versus disbursement of construction funds. Provide outstanding customer service in handling exceptions to policy and procedure and resolving customer issues/problems relative to borrowers, builders, subcontractors, suppliers and loan officers. Perform all functions relative to construction loan servicing. Responsible for monitoring status of all construction loans (past due reports), preparing construction loan extensions and/or modifications. Job Qualifications: * 1–2 years Construction Loan Servicing experience preferred * Basic understanding of construction building process * Good understanding of debits and credits * Well-organized; detail and goal oriented * Familiar with Microsoft Word and Excel programs * Type 40 words per minute * Great Customer Service Skills * Excellent communication skills (oral and written) * Able to handle stress of meeting deadlines * Ability to work well in a team environment as well as independently * Must be able to multitask and work at a high level of productivity with little supervision Benefits of Working with Us: Bank of Utah's comprehensive benefits package includes: * Great work-life balance, with a Monday-Friday schedule * Competitive pay and benefits, including medical, dental and vision plans * 401(k) plan and match up to 5 percent in our employee stock ownership program (eligibility requirements must be met) * 12 paid bank holidays + paid time off, including paid parental leave * Volunteer opportunities to make a difference in the communities where you work and live * Awards and recognition to celebrate you and your colleagues for living the bank's values Job Description: Directly responsible for all functions of the Construction Draw Department. * Book all new Construction loans to Core as well as balance GL accounts * Verify loans booked into Core * Image closing and draw documents into document storage * Book all Extensions and Modifications * Directly involved with each step of the draw process: * Pull draws daily and order inspections (when applicable) * Verify signature authorizing the draw * Verify vendor information, including W-9 form on file * Review invoices for: date, property/job site, borrower, amount and material supplied or work performed * Analyze the inspection report to determine if it supports the work completed per draw request * Analyze percent complete versus percent disbursed * Analyze the availability of funds available in a category or line item * Communicate issues or concerns with appropriate parties promptly and courteously * Input draw/vendor information into Construct, issues payment of checks, remote printing of some checks, review checks for accuracy and create tickets of block transaction. Complete final verification process prior to release of funds. * Balance loan to the Core * Process monthly interest payments * Prepare payoff quotes for title companies, loan officers and others * Receive and process payoff checks. Responsible for processing each step of a paid off construction file. * Book & image all Extensions and Modifications * Prepare Reconveyances and send to the county for recording. Upon return of the recorded Reconveyance, image into document storage, send the borrower the original Note (stamped “paid”), plus copies of recorded Reconveyance * Box paid off files and store in vault/warehouse (7 years) * Track and obtain title policies and recorded Trust Deeds in a timely manner to insure the Bank’s first lien position. Review title policies and recorded trust deeds meet the requirements set forth in our procedures * Monitor hazard insurance policy expiration dates and coverage amounts, obtain updated policy from insurance company as needed * Assist with the preparation of Extension Agreements and/or Loan Modifications * Balance check registry * Image inspection to document storage timely * Responsible to seek out and complete training-courses that are relevant to this job description, that will help them improve their knowledge, skills and abilities * Attend meeting as required * Keep management informed of any significant issues or concerns * Other duties as assigned

Responsibilities

The specialist is directly responsible for all functions of the Construction Draw Department, including processing construction loan draws, monitoring project progress versus fund disbursement, and handling all related servicing tasks like extensions and modifications. Key duties involve verifying documentation, analyzing inspections, processing payments, balancing general ledger accounts, and managing paid-off files and lien position tracking.