Loan Servicing Associate III

Location: North Dakota

Full/Part-time: Full-time

Deadline: 12/07/2023

This position may work remote provided the candidate is a North Dakota resident and resides within the state of North Dakota.

This position has the potential to underfill as a level two if the applicant pool dictates.

Summary of Work

The selected candidate will be responsible for reviewing loan documentation prior to funding, funding all direct and participation loans and providing ongoing loan servicing to the portfolio. This individual will review all loan documents to ensure accuracy, completeness and compliance with BND terms and conditions. They will verify rates, terms, loan amounts, borrowers and guarantors are correct based on the approved loan presentation and the terms set forth in the note, loan agreement and guarantee documents are accurate. The individual in this role will ensure correct lien position of collateral by reviewing security agreements, lien searches and UCC filings for non-real estate secured transactions. They will thoroughly review real estate secured loan documentation including mortgages, title work, flood certificates, appraisal documentation and insurance policies. In this role you will be required to review and understand the diverse documentation submitted by partner financial institutions utilizing many different document preparation systems and documentation prepared by attorneys.  The loan servicing associate collaborates with BND’s partner financial institutions to ensure any errors in documentation or deviation from the commitment letter issued by BND are corrected and any outstanding documentation necessary for lien perfection is provided to BND.

The individual in this role will prepare boarding sheets for over 20 loan programs with the appropriate loan terms and enter loans into core operating system. They will utilize tracking software to update lists of outstanding loan documentation required for each loan funded. They will also ensure all tracking items are set up correctly with the appropriate dates, descriptions, and tied to the corresponding loan numbers. This role will require you to utilize BND’s buydown software to create and finalize buydown schedules for program loans with interest buydown, educate lead banks to understand buydown schedules, collect and remit payments on buydown loan programs, and coordinate receipt of buydown funds from communities. This individual will provide assistance with on-going servicing of the loan portfolio by processing on-going loan documentation, assisting with post close file review, and providing assistance on additional tasks as deemed necessary.

The selected candidate must be detail oriented and have the ability to work on multiple loan files simultaneously. They must be able to adjust priorities to changing circumstances and maintain quality in a fast-paced atmosphere. A significant level of trust and diplomacy is required, in addition to courtesy and tact. Work involves extensive interaction with others, internal and external, and requires influencing and educating others.

Minimum Qualifications

This position requires an associate degree in finance, business, or a closely related field of study and four years of work experience in commercial, agriculture, real estate loan documentation or lending.  Additional work experience as described may substitute for the education requirement on a year-for-year basis.

The loan servicing associate II requires the same education requirements and two years of work experience.

Preferred Qualifications

  • Knowledge of banking software systems to include core operating systems, documentation preparation systems and documentation imaging software.
  • Experience working with participated loans.
  • Excellent interpersonal and communication skills with demonstrated ability to work in a team environment with diverse colleagues and customers.
  • Proven capability to handle multiple high priority tasks.
  • Previous experience with loan file review.