Consumer Loan Servicing Clerk performs routine loan servicing administrative tasks. Processes payments, disbursements, changes, and other transactions. Being a Consumer Loan Servicing Clerk verifies the completeness and accuracy of documents. Performs calculations for distributions. Additionally, Consumer Loan Servicing Clerk monitors escrow payments and tracks delinquencies. Researches customer and internal inquiries and delivers a response or solution. Maintains required electronic files and system inputs. Requires a high school diploma or equivalent. Typically reports to a supervisor. The Consumer Loan Servicing Clerk works under the close direction of senior personnel in the functional area. Possesses a moderate understanding of general aspects of the job. May require 0-1 year of general work experience. (Copyright 2024 Salary.com)
Job Description :
Position Summary : The Loan Servicing Specialist supports the largest and most sophisticated corporate loan transactions in the market They primarily provide operational support to Debt Capital Markets on Term Loan B / institutional debt where Client is the administrative agent This position is responsible for providing loan servicing / administrative support (reconciliation / billing / payments) and has direct communication with borrowers, lenders and business partners Essential Responsibilities : Initiate loan activity (fundings, repricings, payments) as instructed by the client in accordance with credit agreements Calculation and tracking of complex interest and fee accruals at various rate levels across changing lender distributions Reconcile daily funding and payment activity to account for all daily cash transactions Read and interpret complex legal credit agreements and related documentation working with attorneys when applicable Initiate and reconcile automated funds movement in accordance with client / lender instructions Monitor and escalate past due principal, interest, and fees to ensure that the loan accounting system is accurate and provide clients timely and accurate invoices Maintenance of margin changes and proper communication to bank group Provide information as requested by Clients, Business Partners, Middle Office, or Lenders Monitor control reports updating applicable comments Assist with any administrative tasks associated with the terms of a Credit Agreement Perform quality control on new deals, restructures and amendments by thoroughly understanding the credit agreement verifying system set up accuracy Back up co-workers, work with various special projects or other tasks as assigned
Requirement :
Minimum Requirements : Undergraduate degree is strongly preferred but related job and industry experience can be accepted as a substitute (3 years) Solid working knowledge of Microsoft Office applications (i.
Last updated : 2024-02-27
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