Residential/Commercial Lending Assistant at Institution for Savings – Newburyport, Massachusetts

The Institution for Savings, one of the oldest and most successful community banks in the region, is seeking a full-time Commercial/Residential Servicing Assistant in our Lending Newburyport Office. Duties include:

• Order Credit, OFAC possibly Flood Certificates.
• Completes UCC lien and lien filings; maintains UCC tickler and current liens by filing continuations and terminations when needed.
• Draft commitment letters.
• Upon approval of a loan, assist lenders with loan processing and maintains the credit/legal files as instructed by the Lender.
• Assist Lenders with HMDA Prep Sheet, PRE-closing checklist, and required compliance documents.
• Assist lenders with documentation review prior to new loan closing to ensure the Promissory Note and documents are consistent with the terms of the approval; however, lender is responsible for review of final documentation for form and accuracy
• Books and funds new loans, monitors file for required documentation and ensures that the loan is in compliance with the original approval and meets compliance standards.
• Prepares documentation through Onboard, exports loans upon closing and disburses loan proceeds.
• Ensure all documentation for new requests and existing portfolio is uploaded to the appropriate loan and/or relationship ID. Quality Control (QC) uploads to Synergy when applicable (following the transfer of commercial portfolio files from paper to imaged).
• Assist Lenders with line of credit advances and paydowns as well as payment processing, research and problem solving related to portfolio management. This includes gathering information from outside sources such as the registry and assessors.
• Prepare Note Modification Agreements and process changes as directed by Lender.
• Monitors cancelled insurance policies and initiates timely follow-up. Assists Lenders as needed with research and updating various insurance requirements such as hazard and flood coverage at annual review or as directed.
• Handle payoff requests and mortgage discharges
• JHA loan maintenance including risk rating changes, update line of credit expiration dates, etc.
• Handle certain credit support tasks normally outside of a Lending Servicing Assistant’s role, including preparation or updating financial statement request letters, and monitoring for receipt. Preparing Exposure Summary forms and spreading basic financial statements. Assist lenders with line of credit renewals and loan review (short form only)
• Provides backup for reporting and loan remittances
• Provides backup to CLA’s with maintaining construction loan files and handling disbursements for lender monitored construction loans.
• Take phone calls, messages, and other duties/projects as assigned.
• Follow and track delinquent real estate taxes for loans.
• Update the Board of Investment minutes for biweekly BOI meetings.

This position is full-time in office with fully paid medical, dental and vision insurance, as well as dollar-for-dollar 401(k) match up to 10%; life insurance; disability plan; pension plan after 2 years of service; and generous vacation and paid-time off. To apply: forward resume to Institution for Savings, attn: Kathy Ferreira, PO Box 510, Newburyport, MA 01950 or complete an application available on our website at institutionforsavings.com or in any office. We are an Equal Opportunity Employer.