Sr Loan Servicing Associate-Payment Processing at Northeast Bank

Boston, Massachusetts, United States -

Full Time

Start Date

Immediate

Expiry Date

07 Oct, 26

Salary

42.0

Posted On

09 Jul, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Payment Processing, Loan Servicing, SBA Servicing, Wire Transfer Management, Financial Calculation, Organizational Skills, Communication, Asset Management Collaboration, Investor Reporting, Confidentiality, Priority Setting, ACH Processing

Industry

Banking

Description

Northeast Bank is a full-service community bank and a national commercial real estate lender with offices in Maine, Massachusetts, New York, and Connecticut and California. We are looking for motivated and talented individuals who want to make an impact in a growing company that cares about its employees, customers, and the communities it serves. Northeast Bank provides competitive compensation and benefits, generous PTO, and a hybrid work environment dependent on the role. If you are looking for a growing organization that prioritizes its employees, we encourage you to apply. POSITION SUMMARY: The Loan Servicing Payment Processing Specialist is pivotal in ensuring the accurate and timely processing of all incoming payments. This position also serves as a reliable backup for the SBA/Investor Loan Servicing specialist. Moreover, this role demonstrates flexibility by providing support across various functions within the department. RESPONSIBILITIES: * Manage the Loan Department's Incoming Wire mailbox, ensuring prompt and efficient handling of wire requests while maintaining adherence to established protocols. * Process all loan payments, including checks and wires, collaborating with the Asset Management team to ensure proper application of payments. * Handle financial transactions for payoffs and ensuring proper approvals. * Manage return loan items, such as ACH and check returns, ensuring timely and accurate reversals. * Facilitate monthly waterfall payments according to established procedures. * Review documentation and process disbursement requests for approved commercial loans. * Serve as backup for monthly 1502 Colson Report and payment of guaranteed fees to the SBA. * Act as backup for Investor reporting and remitting for various commercial loan investors, including SBA, USDA, and other agencies. * Assist with inquiries and transcript requests to both FTA and SBA. * Review consumer exceptions, such as short payoffs or loans with zero principal balance and send necessary letters. * Assess invoice fees, such as appraisal and legal fees, per loan officer instructions. * Provide backup support in critical editing of originated and/or purchased loans as required. * Acquire proficiency in other functions within the Loan Servicing department to offer additional assistance as needed. * Maintain courteous and professional interactions with all staff members. * Perform any other duties within the same physical and mental scope as required. * Successfully pass technical and regulatory examinations required by the Company. KNOWLEDGE, SKILLS AND ABILITIES: * Ability to maintain confidentiality. * Knowledge of SBA Servicing Requirements. * Excellent organizational skills and the ability to effectively communicate with all levels of employees. * Ability to calculate figures and amounts such as interest, percentages, ratios, and proportions. * Ability to deal with multiple tasks by organizing and setting priorities. * High School diploma. * 5 years of banking experience preferred. PHYSICAL DEMANDS AND CONDITIONS: * Must be able to remain in a stationary position for long periods of time. * Must be able to occasionally lift up to 25lbs. * Consistently operates a computer and other office machinery such as calculator, copy machine and printers. * Climate controlled general office setting with moderate noise level. * Must express or exchange ideas and meaning with co-workers, supervisors, customers and vendors. Northeast Bank is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity and expression, national original, veteran status and any other classification protected by Law. We celebrate diversity and are committed to creating an inclusive environment for all employees.

Responsibilities

The role is responsible for the accurate and timely processing of all incoming loan payments, including wires and checks. Additionally, it provides critical backup support for SBA and investor loan servicing and reporting functions.