VP, Loan Servicing Manager
Company: Bluestone Bank
Posted on: May 21, 2023
Manages the loan servicing function to deliver efficient loan
onboarding, collections, escrow, and cashiering operations.
Establishes processes and procedures to maintain accuracy and
completeness of required documentation. Provides leadership,
development, and work direction to ensure the efficiency and
effectiveness of the department. This is not a remote
- Responsible for the overall performance and growth of the Loan
Servicing function of the Bank. This includes directing and leading
the department in a way that continuously supports the strategic
goals of the bank, allowing for growth and knowledge expansion to
support new business lines, products or initiatives. Actively
participates in planning sessions with Bank management to determine
- Responsible for the development and supervision of all Loan
Servicing employees, including employment reviews, salary
recommendations, work flow management, training and guidance and
- Establishes and maintains strong and productive relationships
with the Bank's credit administration and lending teams.
- Oversees the onboarding of all loans onto the FIS system,
including funding, new account set up, set up quality control,
document retention and post close document review.
- Provides oversight of the residential loans managed by third
party servicer, DMI, with monthly reporting as required by Fannie
- Responsible for the oversight of the residential construction
advance process and conversion of those loans to permanent
- Responsible for the collections on delinquent loans in consumer
portfolio as well as oversees the collection efforts by our
third-party servicer DMI for the mortgage portfolio. Prepares
periodic reports for Management. Works with the collection agencies
for charge off and legal counsel for foreclosure loans.
- Collaborates with Commercial Loan Officers on extensions,
renewals and modification of loans and lines of credit.
- Oversees all aspects of escrow processing, including
disbursements to pay taxes and insurance, as well as annual escrow
- Manages the process and relationship with the bank's
third-party insurance tracking partner.
- Develops and maintains a strong knowledge of all aspects of FIS
loan processing. Keeps up to date with system enhancements and
changes. Maintains the administration of the system by updating FIS
and loan control adding new products or other changes as
- Continually evaluates departmental procedures and implements
efficiencies whenever possible.
- Manages the Participation loan portfolio and works with the
participant Banks for reporting and remittance.
- Manages the swap portfolio ensuring loans are in balance in
accordance to the swap agreements.
- Monitors flood insurance and renewals for insurance for entire
portfolio. Force place insurance and cancellations. Prepares
reports for Management.
- Manages the scanning and image process for all new loans for
- Assists and coordinates with Management and the Compliance
Department third party Audits for both quality control and
compliance with bank and regulatory standards.
- Prepares monthly reports for Senior Vice President/Residential
Lending and Executive Vice President and Senior Commercial Lender
for presentation at Asset Liability Committee and Credit
- Responsible for the review of tickler reports and file
maintenance review for Commercial and Consumer Lending. Quarterly
tracking of Collateral loans secured by savings account and Quality
Control audits for Consumer portfolio.
- Responsible for the reconciliation and management of
outstanding items of all General Ledger accounts used by Loan
Servicing, approximately 15 accounts.
- Maintains a strong working knowledge of compliance regulations
related to lending and stays abreast of industry trends and
- Researches and responds to customer inquiries and
- Provides prompt and courteous service.
- Other duties as assigned.
- Bachelor's degree in related field or equivalent combination of
coursework and work experience.
- Ten years of banking experience with at least five years of
progressively responsible Loan Servicing experience, including
strong working knowledge of financial institutions products and
- At least two years of experience leading and managing a team.
This includes general supervisory, people development, and conflict
- Demonstrated ability to work and solve problems effectively and
- Proficient word processing and spreadsheet skills that include
Microsoft Office (Excel, PowerPoint, Word, and Outlook), online
meeting and remote access software, Bank operating systems, and the
ability to learn other software applications.
- Proven effective oral and written skills. Excellent verbal
communication, technical writing skills, and presentation skills
with an ability to effectively interact with and convey information
to people who possess varying levels of understanding on applicable
topics. Equal Opportunity
Keywords: Bluestone Bank, Brockton , VP, Loan Servicing Manager, Executive , Raynham, Massachusetts
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