Loan Servicing Manager

Hybrid/New York, NY
Salary Range: $170,000 - $190,000


The Vice President, Loan Servicing Manager (“LSM”) is a “player-coach” who inspires the loan servicing team to perform at their best and manages the loan servicing functions related to Apple Bank’s Commercial Mortgage Division (CMD) loan portfolio and third party managed residential portfolio, by ensuring that daily work is processed in accordance with internal policies and procedures and all deadlines are met. This position works closely with Account Managers/Officers, Loan Closing Officers, Loan Administration and other business areas within the Bank (Finance/Accounting, Underwriting/Portfolio Management, Risk Management, & Internal Audit) to address all loan servicing matters. The successful candidate is expected to handle activities related to the portfolio and is responsible and accountable for certain workflows. This s a growth opportunity and the successful candidate is expected to identify business and process improvements to make a meaningful impact on the team and organization.

ESSENTIAL DUTIES & RESPONSIBILITIES

• Review, direct, and approve processing of daily work such as funding, closing and documentation for CMD loan portfolio ensuring that all deadlines are met.
• Ensure that the data for new loans entered into the loan servicing system (McCracken) is in accordance with loan documents; review secondary data, ensuring the classifications, codes, ratings and other information are correctly registered in the system.
• Confirm that each funding and closing has been completed timely and correctly and remedy any problems swiftly.
• Manage payments daily, verifying the proper application of loan repayments, interests and fees on the servicing system.
• Ensure that insurance requirements are met and track relevant insurance policies.
• Monitor loan commitments to ensure the loan servicing system accurately reflects borrowings and availability.
• Monitor delinquency and inform the stakeholders for further action.
• Oversee timely reflection of loan term and rating changes into the McCracken system.
• Review the accuracy of McCraken monthly data outputs in collaboration with other departments and make necessary corrections in the registration.
• Provide the required monthly reports to the management, Board, various departments, regulators, credit reporting agencies and/or other stakeholders.
• Prepare ad hoc reports or provide data upon requests.
• Review and approve the reconciliation of key general ledger clearing accounts monthly.
• Conduct escrow account analyses annually and review Interest on Escrow Report quarterly.
• Test loan servicing system upgrades and run system reports to identify any data inconsistencies.
• Manage relationship with the bank’s mortgage subservicing company Dovenmuehle Mortgage, and address servicing questions and requests for the residential mortgage portfolio.
• Coordinate activities and manage portion of the consumer loan portfolio.
• Perform other duties as requested.

SKILLS, EDUCATION, & EXPERIENCE

• Bachelor’s degree required.
• 8-10 years of experience servicing commercial loans and 2-4 years in a supervisory capacity.
• Must have a working knowledge of all types of commercial mortgage loans including multi-family and non-residential loans, revolving credit facilities, and loan participation.
• Experience utilizing McCracken loan servicing and IBS Loans system a plus.
• Excellent analytical skills.
• Effective communication (verbal + written) and interpersonal skills.
• Strong Excel skills.
• Possess initiative to follow-up with internal and external clients regarding questions, requests or complaints.
• Must be detailed oriented and possess strong organizational skills.

Visa sponsorship not available.

We are an equal opportunity employer and do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, military and/or veteran status, or any other Federal or State legally-protected classes.