A day in the life of Loan Operations!

Kate Reicherts
August 22, 2023

LoanServicing (aka Booking Team) Loan Operations is led by Kelli Even and covers a multitude of duties from loan payment application to managing collateral documentation to analyzing customer risk. The department is led by Kelli Even and split into 3 teams lead by Jason Klein, Meridith Cuvelier and Kate Reicherts. Each lead will give a synopsis of what a day looks like in their department.


Loan Servicing (aka Booking Team) led by Kate Reicherts

Our ongoing number one priority is the booking of loans into phoenix and responding to customer service requests – these will trump our other tasks that we will be performing, and we attempt to address in order of urgency.

When we are not doing either of those things team members have primary tasks we perform on a daily/weekly/monthly/annual basis. Many of these tasks require a secondary review of the work done for compliance purposes.



·        Payment Processing – this includes unposted items in Phoenix and preparing ACH files for loan transfers set up in Phoenix. We also track any overpayments and          prepare those refunds.

·        Participation payments – We have commercial loans we share with other banks for risk purposes that we exchange funds with based off of activity reports in OnBase.

·        Credit Reports – Monitor where credit reports are pulled from to make sure they are all accounted for in OnBase and any red flags addressed.

·        Adverse Action Notices on denied and withdrawn loans in Meridian link.

·        Draw Requests – We get these through OnBase AND also through our loan construction software called Construct. This requires us to analyze for tax reporting requirements as well.

·        Booking review – Must be performed by a team memberwho did not book the loan to make sure nothing was missed. We also send welcome letters to our consumer loan customers.

·        Initial commercial HMDA review – Analyze loans to determine if they are truly HMDA reportable upon checklist submission and initial review.

·        Print Notices – We process escrow refunds on closed loans and also send Adjustable-Rate notices.



·        Escrowed Insurance – Preparing loan accounts to disburse from their escrow funds to pay homeowners and flood insurance on behalf of our customers.

·        Vehicle Titles – General tracking of titles as collateral, including releasing to appropriate parties upon a loan pay off reports and sending out a monthly report on          titles not yet received.

·        Habitat for Humanity Servicing – Twice a month we remit their homeowner’s mortgage payments to them along with general customer service

·        Gap Insurance Remittance – Submit payment to our GAP provider

·        SBA Remittance – Communicate and remit fees to the SBA on guaranteed loans



·        Property Tax updates in August, then payment of Property taxes in September and March on our escrowed accounts

·        Tracking non-escrowed property tax payments Quarterly, including out of state

·        Annual Escrow Analysis in October

·        HMDA reporting submission at the end of every calendar year


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