Type: Full-time
Location: Winona, MN

Merchants Bank, Winona, has an opening for a Loan Servicing Representative.  This position involves working with customer inquiries, data entry and reporting relative to all aspects of loans, insurance, and escrow functions.  We are looking for someone that can multi-task and prioritize, be able to handle interruptions, and has a high attention to detail.  Must be comfortable using a variety of computer programs and must have a high level of accuracy doing data entry.  Excellent communication skills required. 


Please apply in person at Merchants Bank, online at www.merchantsbank.com/about/careers, or e-mail NLMessenger@merchantsbank.com with a cover letter and resume or to request an application. 


Job Summary

            Under limited supervision, must follow established policies and pro­cedures set forth for the Department.  Is responsible for operating on-line data terminal for data input and inquiry relative to all lending functions of the Bank.  Responsible for timely and accurate transaction processing and reporting of loan information.

Essential Duties:

            Employees with this job description are all cross-trained in the areas of special emphasis.  Each individual time is split: 50% of their time at­tributed to the "General" requirements and 50% of their time to an area of "Emphasis" on a daily basis.

  • Regular and dependable attendance is an essential function of the job.
  • Adherence to compliance with laws concerning financial.
  • Employee will be expected to contribute to a positive working environment through words and actions.
  • Employee will be expected to greet internal and external customers in a friendly and outgoing manner.
  • Employee will be expected to take responsibility to insure that internal and external customers receive outstanding service.
  • Employee may be asked to perform other duties as required by business needs.
  • Employee will be expected to complete compliance and product knowledge assignments in a timely manner.


  • Responds to internal and external customer phone or written loan inquiries in a courteous, prompt and accurate manner by phone, as well as, through written cor­respondence;
  • Distributes a wide variety of reports both within and outside the department; Possesses knowledge and understanding of reports which remain within the department; Maintains proper retention of reports within department;
  • Researches identified customer and computer system problems utilizing problem solving skills to hypothesize causes; Communication including recommendations with manager/assistant manager for correction and prevention of continued problems;
  • Annually reviews and prepares interest paid.
  • Successfully completes “help desk” responsibilities in a timely and accurate manner.
  • Performs other duties as requested by manager/assistant manager within the Bank.

Emphasis: Payments/General Servicing

  • Inputs all real-time payments/advances for all MFGI locations;
  • Loan maintenance as required for all MFGI locations, including but not limited to, coupon books, payment schedule modifications, auto deducts, ACH, and interest rate changes.
  • Inputs participations sold on CBS system; Reviews participation reports and pays participation banks; Reviews and processes several daily, weekly, and monthly reports;
  • 4 ACH setup and account review to ensure transactions are accurate & timely.
  • Loan input for consumer, mortgage, and commercial lending for all MFGI locations.
  • Input purchase participations and commercial loans for all MFGI locations.

Emphasis: Secondary Market Servicing

  • Performs all servicing functions for Investor (FHLMC & FNMA) loans, i.e. payoffs, remittances, participations, etc.; Utilizes Midanet (FHLMC) and SURF (FNMA) software, as well as WEB applications for appropriate communications;
  • Reports & reconciles investor accounts monthly.

Emphasis: Escrow Servicing

  • Ongoing monitoring, maintenance and disbursement of all escrow accounts; Follow-up to pay taxes in a timely manner per each State/County dead­line;
  • Pays property and private mortgage insurance as billed;
  • Responds to written requests for cancellation of PMI promptly;
  • Annually inquires with each State/County on status of taxes paid for all non-escrow customers with appropriate notification per established pro­cedures.
  • Ongoing follow-up with insurance agents to obtain initial insurance policies for credit file as required by secondary market and errors & omissions policy.
  • Provide annual escrow statement with necessary PMI disclosures as required by law.

Working Conditions:

Inside working environment, very low noise level. 

Physical Demands:

Work is performed primarily sitting at a desk.  Requires a high degree of finger dexterity, very good finger-eye coordination.  Required strength to lift files and boxes up to approximately 15 lbs.


Mental Demands:

Requires above-average aptitude in the area of math/number skills, and evaluation/reasoning skills.  Above-average skill in the area of problem analysis and problem solving.  Ability to speak with clarity and articu­late thoughts and ideas well.  Must be able to remain calm under pres­sure and relate to all types of personalities.

Skill Requirements:

Independent thought, good organization, self-motivation to complete tasks and remain on schedule with minimal supervision.  Personal com­puter skills, good typing skills, effective telephone and written com­munication skills.  Amiable personality; team player.



Responsible to the Manager/Assistant Manager, Loan Servicing for clarification of position responsibilities and authority and for proper interpretation. 

Position will have extensive phone and written interaction with cus­tomers and staff.  Extensive person-to-person interaction with staff.  Position will have limited person-to-person contact with customers and public. Must have ability to work in a team environment.  Personal man­ner to enhance the overall professional image of the Bank.

Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.