at First Bank Chicago in Northbrook, Illinois, United States
Job Description
Description
This position reports to VP/Loan Servicing
Basic Functions
Provide support to the Bank’s loan function by reviewing new/renewed loans; reviewing loan advances, payments and rate changes; and processing paid loans.
Essential Duties
1. Perform basic loan servicing functions for a variety of loan types (Commercial Real Estate; Commercial and Industrial; Consumer)
- Apply payments and advances to loans
- Act as servicing agent for participated/syndicated loan transactions
- Perform servicing for troubled loans, i.e., non-accruals, OREO, and charge-offs
- Pay invoices
- Pay assessment fees for Residential Condominium Loans
- Pay real estate taxes
- Process paid loans
- Prepare payoff letters
- Prepare release deed if necessary and send for recording
2. Review new and renewed loans
- Review new and/or renewed loans on the Fiserv system against boarding data
- Responsible for maintaining original loan documents and files in the collateral vault
3. Answer client inquiries regarding loan balance, transactions & payoffs
- Transfer money between accounts
- Prepare wire transfer requests
- Research and correct errors
4. Audit data entry of new and renewed loans
- Perform maintenance as needed
- Scan key loan documents
5. Audit all previous day’s servicing activity
- Correct errors as found
- Perform reconciliation process for GL accounts
6. Monitor hazard and flood insurance
- Contact agents/borrowers to obtain current certificate of insurance
- Update weekly insurance tickler report
- Add lapsed insurance coverage to force placed insurance program
7. Perform additional departmental duties such as:
- Order credit reports, title work and/or flood searches
- Assist with Board reports
- Update Procedures
- Input CRA/HMDA information into the FFIEC CRA/HMDA data entry software
- Assist in the processing of construction draws
- Update collateral & insurance report
- Prepare Subordinations of lien
- Provide notary services
- Monthly insurance monitoring
- Monthly available commitment report monitoring
- Collateral maintenance for tax certificates secured loans
- Review daily reports
- Update loans secured by stock/bonds/investment accounts report
- Input Customer Due Diligence and Beneficial Ownership information into BAM+
Nonessential Duties
- Other duties as assigned
