Loan Records Specialist I at M&T Bank

San Francisco, California, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

High school diploma or equivalent
Up to one year of general experience

Responsibilities

Maintain a good working relationship with all bank employees
Demonstrate the ability to work independently
Work as a team player to contribute to the success of the department and organization
For Commercial Loans: Document verification of new and modified commercial loans; identify missing documents, signatures, dates, and collateral to be tracked for renewal
Setup tracking of document exceptions and collateral in tickler systems
Preparation of loan documents for scanning, quality control of images, retention of required original documents, and destruction of remaining physical documents
Document importing, filing, retrieval, and research of loan documentation
Research and resolve questions for internal and external customers
For Consumer Loans: Setup tracking of document and collateral exceptions for the consumer loan exception report in tickler systems
For Document Imaging and Quality Control: Document imaging of loan documents, tax receipts, participation shadow files, insurance policies, trailing loan documents, and system maintenance forms; indexing of documents to designated loans
Quality control of images, retention of required original documents, and destruction of remaining physical documents
Review new account source and name change reports
Request FNMA paid loan notes from BNY Mellon
For Collateral Insurance: Sorting of incoming insurance mail by new policies, renewals, cancellations, and reinstatements; indexing of documents to designated loans and quality control of images
Review collateral insurance policies for required information; format Excel spreadsheets for tracking of collateral insurance
Work insurance reports and update tickler systems for renewal policies on consumer loans; follow up on cancellations with agents and lenders
Prepare hazard force placed checklists and flood calculation worksheets for lapsed or insufficient insurance coverage on consumer loans
Submit transmittals for force placement of insurance on consumer loans; produce customer form letters in Microsoft Word
For Paid Loans: Review paid loan reports and pull physical loan folders for processing
Release of collateral held on loans: vehicle titles, assignment of life insurance, brokerage or stock, and termination of UCC filings
Preparation of partial real estate releases and mortgage/assignment of rent satisfaction pieces for satisfaction of liens at courthouses
Update collateral tracking items in tickler systems
Calculation of prepayment penalties and loan payoff quotes/letters
Issuance of letters of guarantee of vehicle title
Produce and mail paid loan letters to borrowers
Assume additional duties as required

Skills

Key technologies and capabilities for this role

Document VerificationCommercial LoansConsumer LoansCollateral TrackingTickler SystemsDocument ScanningQuality ControlDocument IndexingLoan ResearchImage Quality Control

Questions & Answers

Common questions about this position

Is this a remote position or does it require on-site work?

This is an on-site position at the location 355 North Fifth Street, Indiana, PA 15701, with work hours Monday through Friday from 8:00am to 5:00pm and additional hours as needed.

What are the key responsibilities for this Loan Records Specialist role?

Key responsibilities include document verification for commercial and consumer loans, setup of tracking in tickler systems, preparation and quality control of documents for scanning, document importing and research, and handling collateral insurance tasks like indexing policies and following up on lapses.

What skills or qualities are emphasized for success in this role?

The role requires the ability to maintain good working relationships, work independently, and act as a team player to contribute to department success, along with clerical skills for document handling, research, and using tools like Excel and Word.

What is the salary or compensation for this position?

This information is not specified in the job description.

What makes a strong candidate for the Loan Records Specialist I position?

Strong candidates demonstrate independent work ability, team collaboration, attention to detail in document verification and quality control, proficiency with Excel and Word for tracking and reports, and experience researching and resolving customer questions.

M&T Bank

Full-service banking for individuals and businesses

About M&T Bank

M&T Bank provides a variety of banking services to individuals, small businesses, and larger companies. Their offerings include mortgage assistance, personal and business checking accounts, and mobile banking options. The bank primarily operates in the Northeastern and Mid-Atlantic regions of the United States, emphasizing community engagement and a focus on customer service. M&T Bank's business model is based on traditional banking practices, such as loans, deposits, and investment products, and it generates revenue through interest income and service fees. A key aspect that sets M&T Bank apart from its competitors is its commitment to community involvement, which includes allowing employees to volunteer and supporting local organizations. The recent merger with United Bank, N.A. has further expanded their services and market presence.

Buffalo, New YorkHeadquarters

1993Year Founded

IPOCompany Stage

Financial ServicesIndustries

10,001+Employees

Risks

Competition from fintechs could erode M&T Bank's market share among tech-savvy customers.

Integration challenges from the United Bank merger may disrupt operations.

Decreased prime rate could reduce interest income, impacting profitability.

Differentiation

M&T Bank emphasizes community engagement through its charitable foundation and volunteer programs.

The bank offers a wide range of traditional and digital banking services.

Recent merger with United Bank, N.A. expands M&T's market reach and service offerings.

Upsides

M&T Bank's $1.5 billion senior notes offering strengthens its financial position.

Decreased prime rate may attract more borrowers, increasing loan volume.

Shannon Lazare's appointment as New Jersey Regional President enhances local community engagement.

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