Commercial Loan Servicing Representative
2 weeks ago
Wells Fargo is seeking a Commercial Loan Servicing Representative to support internal and external customers with inquiries and complaints regarding loan servicing needs.
Key Responsibilities:- Monitor loan system and resolve customer issues, and process complex transactions online.
- Perform moderately complex administrative, transactional, operational and customer support tasks.
- Act as primary loan servicing contact that involve construction monitoring and disbursements.
- Monitor collateral and preparing payoff letters, releasing collateral.
- Audit loan systems of record for new loan setups, modifications and data input, and customer research and billing.
- Receive direction from supervisors, and escalate non-routine customer concerns to experienced individuals.
- Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals.
- Interact with internal customers.
- Receive direction from leaders.
- Exercise independent judgment while developing the knowledge to understand function, policies, procedures, and compliance requirements.
- 2+ years of Commercial Loan Servicing experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
- Collect, analyze, and input information into various templates which are used by asset management to support credit decisions, seek approvals from internal and external parties, and communicate with borrowers and third parties.
- Respond to requests from borrowers for lender consent to various matters governed by the terms of the loan documents.
- Develop the credit case and obtain necessary approvals by sourcing information and documents, completing a credit memo template, analyzing risks/mitigation, and preparing an underwriting file.
- Collect outstanding monetary receivables and financial statements by contacting borrowers via phone or email.
- Understand and interpret various legal documents related to commercial mortgages, commercial real estate, and servicing agreements.
- Navigate through diverse sources and save required data into internal or shared electronic locations, synthesizing the information, and inputting it into templates.
- Good knowledge of MS Office and flexibility to work on new assignments.
- Handling calls with LOB of the respective portfolios.
- Excellent interpersonal communication skills.
- Strong attention to detail and accuracy.
- Strong organizational and time management skills, ability to multitask and work in a deadline-driven environment.
- Ability to work effectively in a team environment.
- Understanding of the Commercial Mortgage-Backed Securities (CMBS) industry, Pooling and Servicing Agreements, and the roles and responsibilities of the Master Servicer and Special Servicer.
- Ability to effectively communicate with varying internal bank personnel, customers, consultants, and external counsel.
- Minimum of 2 years' experience in commercial real estate.
- Minimum of 2 years' experience in calling process.
- Experience in commercial documentation, preparation, or review.
- Ability to successfully manage relationships and expectations with internal and external parties.
- Bachelor's degree with an emphasis in Business, Commerce, Real Estate, or Finance.
Wells Fargo has recently entered into an agreement to sell the third-party servicing function of Commercial Mortgage Servicing (CMS) to Trimont Global LLC (Trimont). The sale is expected to close in early 2025. We are continuing to recruit for open positions supporting CMS but want to ensure you are aware that should you be selected for and accept this position, you may also receive an offer from Trimont prior to the Closing Date with similar employment terms and conditions following your Wells Fargo start date.
We Value Diversity
At Wells Fargo, we believe in diversity, equity, and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran, or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples, and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.
Drug and Alcohol Policy
Wells Fargo maintains a drug-free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
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