Loan Servicing Specialist

Description

Please note:

This is an in-office position located in (Springfield, IL)

About Us

At INB, your career is more than a job; it’s a chance to make a difference. As a locally owned, community-focused bank, we help individuals and businesses reach their financial goals through personalized service and trusted relationships. Our team is built on care, creativity, teamwork, balance, smart work, and enthusiasm. Join us and be part of a purpose-driven culture that makes a positive impact every day.

Job Summary

The Loan Servicing Specialist is responsible for providing exceptional customer service and performing critical loan servicing functions, primarily consisting of loan payment posting, insurance monitoring, and escrow payments. Other duties include loan processing, payoff processing, account reconciliation, and regulatory reporting.

Requirements

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily as well as other duties that are assigned. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Key Responsibilities Customer Service & Communication

• Respond to customer inquiries via phone and email regarding loan accounts, payments, and servicing-related questions.
• Cover the loan servicing phone queue; meet or exceed response and resolution SLAs.
• Provide professional, clear, and accurate information to borrowers, internal stakeholders, and third parties.
• Investigate and resolve customer concerns or discrepancies related to loan accounts.

Payment & Transaction Processing

• Post and reconcile loan payments, adjustments, and reversals.
• Research and resolve payment exceptions, unapplied funds, and suspense items.
• Balance daily work against core banking system reports; elevate discrepancies as needed.
• Create and process ACH transfers.

Payoffs & Lien Releases

• Generate, verify, and deliver payoff quotes within service standards.
• Process loan payoffs, confirm satisfaction in the core system, and complete audit trails.
• Prepare, file, and track lien releases and satisfactions with appropriate state/local agencies; ensure titles are properly released and collateral documents are returned.

Qualifications

Perform other duties as assigned.

Education & Experience Required

• Experience in a banking or financial services environment.
• Strong attention to detail and accuracy in data entry and financial transactions.
• Ability to handle multiple tasks, prioritize workload, and meet deadlines.
• Excellent communication skills, both verbal and written.
• Proficiency in Microsoft Office (Excel, Word, Outlook).
• High school degree or equivalent required

Preferred

• Prior experience in loan servicing.
• Prior experience handling escrow accounts; primarily insurance payments and escrow analysis.

Knowledge, Skills, and Abilities

Requires ability to communicate effectively and clearly (both written and verbally);
Ability to read, write, and comprehend simple instructions, short correspondence, and memos. Self-Starter:
Inspired to perform without outside help. Perform other duties as assigned.

Mathematical Skills

Requires the ability to perform basic mathematical calculations; add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percentage, and to draw and interpret bar graphs.

Reasoning Ability

Requires ability to use good judgment in making routine and complex decisions;
Must have excellent customer service skills with the ability to sell products and Services;
Ability to accurately handle large sums of cash;
Must be goal-oriented and able to achieve individual goals as well as work as a team player to achieve departmental and/or Bank goals;
Flexibility is necessary with the ability to adapt in an ever-changing environment.

Computer Skills

To perform this job successfully, an individual must be proficient in all Microsoft Office programs, with an ability to quickly learn other bank-related programs.

Physical Demands

The physical demands described here are…