Commercial Loan Servicing Specialist Job Description

A Bachelor's Degree in Finance, Accounting or Business: The Qualification and Experience of a Mortgage Servicing Specialist

Mortgage servicing is the process of administering a mortgage. Mortgage servicing specialists perform a variety of tasks, from reviewing loan applications to starting foreclosures in the event of a default. Most specialists are employees of investment banks, but others work for credit unions.

To get started as a mortgage servicing specialist, you need to have a bachelor's degree in finance, accounting or business. Most states require mortgage servicing specialists to hold a license. To get it, you need to fulfill a number of requirements, including completing at least 20 hours of coursework and passing an exam.

The Retail Branch Operations Function

Banking is to provide a stable platform for financial transactions. Banking stimulates the growth of business by generating confidence and predictability in a currency, and that growth in turn increases the demand for banking services. Payment services are provided by commercial banks.

They earn money by lending customer deposits, as well as other ways, such as mortgages and lines of credit. Investment banks give companies the funds they need to start or grow. The Retail Branch Operations function is responsible for the performance of the retail branch network.

They manage high-frequency tasks such as platform operations. Business and individual customers can conduct financial transactions at retail branch locations. The majority of a bank's employees reside within the retail branch network, which is a prime candidate for savings through process improvement and reorganization.

The Retail Branch Management function is responsible for the oversight and management of all retail bank branch office operations. Responsibilities include hiring employees, managing teller functions, monitoring personal bankers performance levels, approving loans and lines of credit, marketing the branch, building relationships within the surrounding community and assisting customers with account problems that cannot be solved by tellers or personal bankers. Basic banking transactions such as deposits, check cashing, withdrawals, loan payments, money orders and foreign currency exchanges are performed in-person at a retail branch location by teller line employees.

Retail branch network locations have teller transactions that are high-frequency. The back office operations are essential non-customer facing services. The Back Office is responsible for a number of activities, including credit operations, loan servicing, deposit operations, item processing, trade processing, collections, cash vault operations and wire transfers.