Senior Commercial Loan Servicing Representative at MutualOne Bank – Natick, Massachusetts

Position Description

Title: Senior Commercial Loan Servicing Representative

Department: Loan Servicing

Reports to: Loan Servicing Officer

Supervises: None

Classification: Non-exempt

Date Prepared: October 27, 2025

Summary / Objective

The Senior Commercial Loan Servicing Representative responsibilities include performing a variety of loan servicing and processing activities in conformance with established bank policies, procedures and objectives. Performs any functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers.

Experience & Education Requirements:

• Bachelor’s degree or equivalent lending experience
• Background in financial institution’s real estate, commercial and/or consumer lending procedures
• Excellent understanding of lending procedures, Federal and State lending regulations
• Proven customer service skills

Essential Job Functions:

• Responsible for booking and/or modifying commercial loans. This entails the ability to read and interpret promissory notes and modifications agreements to establish the proper schedules and data in the system that will reflect the contract with the member. Must be able to use sound judgment when selecting codes such as property type, account type, flags, etc. as each of these is critical to the system and reporting
• Perform a post-closing review of all new loans and amendments for compliance and accuracy, while working closely with the closing attorneys and relationship managers to ensure that all changes are completed, and loans are closed in compliance with the approval. Review legal documents for accuracy and completeness.
• Maintain, manage, and track all pending and outstanding loan documents, resolve exceptions and ensure that any missing or incorrect information is identified and promptly corrected
• Ensure collateral recording information is secure and maintained in the core banking system
• Monitor, maintain and update rate and payment change records as required. Send adjustment notices to customers and respond to any customer inquiries or concerns. May manually calculate daily interest rate and per diem rate for customer/lender/attorney.
• Review various reports to clear system errors and update loans as needed
• Research and resolve servicing issues in support of loan officers and customers within the scope of authority and expertise. Perform complex transactions, and loan payments, including but not limited to recalculating principal, interest and other payment information for accounts and performing escrow as necessary.
• Monitor real estate taxes, flood & hazard insurance, and other charges on secured properties
• Instruct vendors to impose forced-placed insurance coverage on acquired properties, ensure proper coverage, and pay premiums.
• Process commercial mortgage, commercial loan, and construction loan payoff requests from internal and external customers
• Prepare paid off documentation for the customer and/or attorney, releasing collateral liens
• Review various daily monitoring reports to ensure payments were processed correctly.
• Adhere to timelines and deadlines established based on client needs and department workflow.
• Perform other job-related duties as assigned by Managers(s).