Loan Servicing Specialist

At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.

Pay Range: $20.50-$24.00/hourly

Position Summary

The Loan Servicing Specialist II is an experienced member of the Loan Servicing team within Loan Operations and is responsible for independently performing routine to moderately complex servicing functions across Loan Servicing, Loan Booking, Loan Collateral, and Loan Escrow. This position applies established knowledge of consumer, mortgage, and commercial loan products to research and resolve servicing issues, process transactions and exceptions, and maintain accurate loan and collateral information. The Loan Servicing Specialist II exercises greater independence in resolving servicing matters, provides task-specific guidance and support to less experienced team members, and escalates complex or higher-risk matters as appropriate.

Functional responsibilities include loan maintenance and payment processing, account research and reconcilement, loan onboarding and modifications, collateral and release processing, insurance and flood administration, escrow servicing, delinquent tax monitoring, and related customer and business-partner support.

Primary Accountabilities

Job Specific

- Receives, validates, and completes basic to moderately complex loan maintenance requests.
- Processes loan payments and payoffs.
- Investigates and resolves payment issues and discrepancies.
- Reconciles outstanding loan account items and clears reconciling differences.
- Processes and resolves un-posted transactions.
- Responds to basic to moderately complex inquiries regarding commercial, consumer, and mortgage loans through comprehensive loan research.
- Researches payment issues and discrepancies
- Compiles, reviews, and manages distribution of funds for insurance loss claims.
- Assist with general escrow analysis inquiries.
- Performs loan research; able to answer and resolve basic inquiries of various loan types in commercial, consumer and mortgage
- Answer all inbound basic to moderately complex loan servicing calls routed to Loan Servicing, by resolving/answering questions or escalating to the appropriate representative or team for resolution.
- Performs outbound courtesy calls to loan customers as needed.
- Ensures collateral ticklers are established according to lending agreements and documentation.

- Reviews, tracks, and updates collateral through reports and escalates exceptions as appropriate.
- Proactively work  aged collateral exceptions.
- Handles basic paid out transactions and the related release of collateral.
- Adheres to all regulatory, legal and MERS system rules when processing all release documents. Performs escrow distributions, refunds, and related support activities.
- Tracks and updates hazard insurance collateral; sending out reminder letters when necessary to meet regulatory requirements.
- Disburses escrow payments and processes escrow refunds for all escrow types including insurance, taxes and PMI
- Force places coverage for hazard insurance per guidelines and timeframes
- Handles flood tracking, coverage review, and escrow disbursements while adhering to regulatory guidelines.
- Tracks delinquent real estate taxes and takes necessary actions as required to protect the bank’s interest.
- Facilitates loan payment and remittance activity between third-party servicers and master servicers, ensuring timely and accurate payment application.
- Performs regular reconciliations of loan balances, payment activity, and asset status between internal servicing systems and third-party servicer records; researches and resolves discrepancies as needed.
- Collaborates with internal and external partners to proactively manage delinquent assets and ensure servicing, collection, and reconciliation activities are completed accurately and within established timelines.
- Processes and sorts corporate mail and disburses department mail.
- Scans, files and re-files documents in the bank’s imaging system as related to loan servicing tasks performed.
- Provides task-specific training and support to less experienced team members and assists with onboarding new team members.
- Provides exceptional customer service to customers and business partners, taking ownership of inquiries and following issues through resolution.
- Has excellent telephone etiquette.
- Independently manages assigned servicing responsibilities and escalates questionable transactions and recurring issues to management in a timely manner.
- Escalates questionable transactions and recurring issues to management in a timely manner.
- Consistently complies with all regulatory and legal requirements applicable to assigned functions.
- Observes all security, privacy, and compliance requirements.

- The role requires occasional travel for training, team meetings, and due diligence events.
- May require work in a Midland office to ensure collaboration and support of internal and external customers.
- Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
- Other duties as assigned.

Position Qualifications

Education/Experience

- High School Diploma and 1+ years of relevant banking experience.
- Experience with loan analysis, account reconciliation, finance, or accounting concepts preferred.
- Knowledge of commercial, consumer, mortgage, and equipment finance loans and/or third-party loan servicing practices preferred.
- Demonstrated ability to learn and use new software and programs.
- Proficient in Microsoft Office Suite.
- Demonstrated ability to take ownership of assigned responsibilities, manage priorities, and follow issues through resolution.

- Strong oral, written, and interpersonal communication skills.

- Strong organization and time management skills.

- Strong attention to detail.

- Ability to work independently and as part of a team.

Competencies:

- Business insight
- Cultivates innovation
- Drives results
- Makes sound decisions
- Being a brand champion
- Collaborates
- Communicates effectively
- Customer focus
- Being Authentic
- Emotional Intelligence
- Self development
- Being flexible and adaptable

At Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident and more excited to do great things for our customers, each other and our company. We’re proud to be an Equal Opportunity and Affirmative Action employer. At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.

If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at  [email protected] .

Midland States Bank may use automated tools and artificial intelligence (“AI”) to assist with recruiting, screening, and hiring decisions. In accordance with the Illinois Human Rights Act (effective January 1, 2026), these tools are designed and monitored to be neutral and job-related, and must not be used in a way that discriminates against applicants or employees based on any protected characteristic.

THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT