Loan Operations Specialist
Job Details
Operations Annex - Marlborough, MA
Full Time
Job Description

Become Part of the Main Street Bank Team

You Deserve to Love What You Do

 “Choosing to work here has enhanced my career”; “Senior management’s doors are always open”; “I absolutely love what I do”; “The culture is awesome!”

These are words straight from our employees, and what you will experience working for Main Street Bank. What will you get when you choose a career here?

  • Opportunities for career growth and cross-departmental exposure.
  • Competitive benefits, from salary, health insurance, retirement plans, tuition assistance, and more.
  • Access to robust onsite and outside training programs to hone your skillset.
  • Collaboration with an innovative, creative, and fun team of people dedicated to what they do.
  • Work-life balance in a family-oriented, community organization.

We are looking for diverse talent of all kinds to join our team. If you are driven by results, bring your highest self to work, enjoy building relationships on mutual success, and embrace innovative thinking, you have met you match.

Job Title: Loan Operations Specialist  

Location: Marlborough, MA

SUMMARY: As part of the loan servicing team, reporting to the Loan Operations Supervisor, the Loan Operations Specialist is responsible for a variety of clerical and administrative duties in support of the Commercial, Residential, and Consumer a loan portfolio in accordance to bank procedures and regulatory policies, performing functions such as escrow activities, loan maintenance, processing of loan payments and providing backup support on other job functions within Loan Operations area including secondary market.  

Additionally, it is expected that this position will actively participate in initiatives that support the banks strategic plan while embracing the established sales and service culture to maximize their contribution to the bank’s goals.

ESSENTIAL DUTIES and RESPONSIBILITIES: Statements included in this description are intended to reflect in general the duties and responsibilities of this classification and are not to be interpreted as being all inclusive, other duties may be assigned. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • Responsible for the day-to-day monitoring and servicing of the commercial, residential and consumer loan portfolio while adhering to all compliance regulations and Bank procedures.
  • Responsible for performing Quality Control on new loan setup for Residential and Consumer loans to ensure data integrity.
  • Review assigned daily reports against source documents detailing all new consumer loans resolving all discrepancies, ensuring the quality and integrity of information entered in the system is accurate as established in policy and procedures.  
  • Performs all necessary transactions related to escrow accounts to ensure payment of real estate taxes, PMI, Hazard and Flood Insurance premiums are paid on time and in accordance to established procedures.
  • Perform and review Annual Escrow Analysis on loan portfolio to ensure escrow accounting is accurate and in accordance to RESPA guidelines and troubleshoot exceptions.
  • Performing necessary file maintenance to ensure accuracy of payments being disbursed from escrow account.
  • Monitors and prepares quarterly reports from Third Party Vendor on past due real estate taxes in accordance to established policy and procedures.  
  • Quality Control, performing various loan maintenance and transactions to core system, and providing support to Secondary Market Activities    
  • Responsible for Participation remittances to various investors.
  • Responsible for the Hazard and Flood insurance tracking, legal documentation updates and follows up on exceptions and ensure records are updated within the Bank’s core system incompliance with CFBP and Flood Insurance regulations.
  • Responsible for the preparation of paid off loans requests from attorneys and customers including the preparation of legal documentation, payoff letters and mortgage discharges and lien releases.
  • Responsible for processing daily lockbox CDM file and review of any posting loan rejects, loan advances, billing and payments related loan maintenance, reversals, and waivers of the Bank’s Core System.
  • Daily posting and balancing of TI (Teller Insight) transactions.
  • Perform assigned daily and monthly reconciliations in accordance with established procedures.
  • Serve as the primary support and back up for the Secondary Market Processor.  
    • Assist in Post-Closing of Residential Loans to ensure documentation is accurate.  
    • Preparation of data file exports to ensure loan delivery and funding are processed to meet investors commitments, secondary market guidelines and performs file maintenance upon loan funding.
    • Responsible for MERS registration and reporting paid off loan activity.
    • Back up with scanning and indexing loan documentation to Vision Content imaging system and Encompass Loan Origination System.
  • Participate in the development and updating of departmental procedures and provide input to improve efficiencies.
  • Prepares and maintains assigned monthly/quarterly reports and general ledgers.
  • Maintain and monitor assigned logs accurately to monitor department functions.
  • Through cross-training be prepared to act as back-up for a variety of departmental functions
  • Responsible for processing tickets assigned through the Bank’s Help Desk ticket system of servicing loan portfolio in ensuring timely processing and data input integrity within established timeline.
  • Handles internal and external customers inquires, problem research and resolution.
  • Assesses customers’ needs and recommends additional products and services.
  • Responds to incoming calls from internal and external customers pertaining to Loan Accounts, researching to problem resolution.
  • Effectively use tools and systems to be able to self-manage, organize, and complete work independently, proactively recognizing potential obstacles resolving them before they become an issue, managing to deadlines, creating action plans when not on track, enabling job functions to happen with minimal oversite and meeting conditions of satisfaction. 
  • Readily volunteer and accept assignments to special tasks established to address specific issues and opportunities within the department or the Bank.
  • Regular and consistent attendance is required to continue the high standard of customer service.
  • In the performance of respective tasks and duties, the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and adheres to compliance procedures and internal/operational risk controls in accordance with all applicable regulatory standards, requirements and policies as well as attending all required training sessions and completing all required on-line training courses.
  • Other duties as assigned.


  • This position interacts independently with other employees and customers, to investigate and resolve loan issues.
  • Work is a mix of non-routine and routine responsibilities that are completed with a moderate amount of supervision and relies on prior directly related experience and specific bank policies.
  • This role is relied upon to provide subject matter content within the organization. 


  • High School Diploma or equivalent
  • 1-2 years related banking experience preferably in a Financial Institution Operational environment.
  • Good working knowledge of Data Processing systems required (FIS preferred)
  • Knowledge in financial institution operating policies and procedures, banking regulations (state and federal)
  • Solid Understanding of the Federal and State regulations; CFPB Mortgage Servicing Rules, RESPA and Bank guidelines  
  • Basic Knowledge of commonly used accounting concepts to calculated escrow activities.
  • Ability to multi- task, organize, work independently, accomplish tasks, and meet deadlines despite frequent interruptions in a fast-paced environment while maintaining attention to detail.
  • A curious mindset that allows you to constantly learn and challenge the status quo identify areas of improvement and help drive efficiencies.  
  • Proficient in Microsoft Office Suite products and the Internet
  • Solid understanding and application of and ability to operate standard office equipment.


  • Analytical
  • Knowledge and ability to engage in small projects and execution with little supervision.
  • Problem solving skills
  • Research
  • Excellent Communication Skills
  • Self-Monitoring
  • Responsiveness
  • Accurate attention to detail
  • Sound Judgement
  • Independent
  • Confidentiality, Discretion
  • Excellent Organizational Skills
  • Proficient Prioritization skills
  • General mathematical problem solving
  • Creative and Resourceful
  • Relationship Builder - Develops and maintains relationships with officers, employees and external contacts and maintains alignment with core values, vision, strategy and goals.
  • Computer Technology Savvy - Utilize technology/systems to improve work processes and use a range of technology to solve problems.

LANGUAGE/COGNITIVE SKILLS:  The person in this position frequently communicates with customers, about banking products, their bank accounts & transactions and therefore must be able to exchange accurate information in these cases. They will need to use judgment and discretion in decision making situations, interpret and follow all Bank policies and procedures, write/create reports, and business correspondence, (Main Street Bank’s standard language is English). As well as the ability to:

  • Speak and effectively present/communicate information and respond to questions from customers, groups of managers, vendors, and other employees.
  • Define problems, collect data, establish facts, and draw valid conclusions.
  • Read, analyze, and interpret a variety document such as such as standard Mortgage and Note, Post-closing Documents and Modifications and Bank policies and procedures.

WORKING CONDITIONS AND PHYSICAL EFFORT:  The physical and work environment demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is required to:

Physical Demands/Efforts

  • Occasionally lift and/or move up to 25 pounds, (i.e., files/ file boxes)
  • Regularly required to remain in a stationary position, 50% of the time    

Mental & Visual Demands

  • Consistently operate a computer for extended periods of time
  • Specific vision abilities may be required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus.
  • Regular use of office productivity machinery (i.e., a calculator, copy machine, fax machine, computer printer).

Work Environment and Hazards

  • Occasionally move throughout the inside the Bank to access resources and individuals
  • Occasional local travel for bank purposes and/or on behalf of the bank (i.e., training, retrieve files).
  • The employee must be able to work schedules that meet the needs of the bank, which may include early morning, evening and/or weekend hours.
  • It is a general office environment where the noise level is moderate.

AMERICANS WITH DISABILITIES ACT - Main Street Bank complies with all aspects of the Americans with Disabilities Act (ADA) and state disability laws. This means that we will not discriminate against qualified individuals with a disability in any phase of the employment relationship including application for employment, hiring, promotions and/or advancement opportunities, termination, compensation, training and any other conditions or privileges of employment.

The completion of this Application for Employment does not assure a position with Main Street Bank and any offer of employment is conditioned on the satisfactory completion of a background and credit review as determined by the sole discretion of Main Street Bank. Neither this Application for Employment nor any document constitutes a contract of employment for a specific term and that any employment relationship that may be established will be 'at-will' and if hired, may be terminated at any time, for any reason, by the applicant or Main Street Bank.

Massachusetts Law - It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Massachusetts General Laws c. 151B prohibits employers from (1) terminating or refusing to hire individuals on the basis of genetic information; (2) requesting genetic information concerning employees, applicants, or their family members; (3) attempting to induce individuals to undergo genetic tests or otherwise disclose genetic information; (4) using genetic information in any way that affects the terms and conditions of an individual’s employment; or (5) seeking, receiving or maintaining genetic information for any non-medical purpose.

Main Street Bank is an Equal Opportunity Employer, we are committed to recruiting, hiring, training, and promoting persons without regard to race, color, religion, national origin, citizenship, age, sex, marital status, ancestry, physical or mental disability, veteran status, sexual orientation, military service, genetic information, and gender identity.

Main Street Bank is committed to working with and providing reasonable accommodation to individuals with disabilities.  If you need special assistance or an accommodation while seeking employment, please call: 508-460-4197 or send an email to and we will make a determination on your request for reasonable accommodation on a case-by-case basis.