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Job Information

Bank of America LMA Loan Servicing Specialist in Pennington, New Jersey

LMA Loan Servicing Specialist

Pennington, New Jersey

Job Description:

Job Description:

This position is responsible for servicing Merrill Lynch FAs and CAs with all aspects of the Loan Management Account (LMA), a Bank of America loan collateralized by assets in Merrill Lynch brokerage accounts. The primary function involves handling Service Network phone inquiries related to LMA account opening and use of various online tools, LMA account eligibility, interest rates, loan values and types of collateral, loan applications, and internal/external compliance/regulatory requirements.

The role can involve direct interaction with Underwriting Team, Finance partners, internal management, as well as LMA Business partners, and Global Risk Management. Strong performance can lead to additional opportunities such as Email inbox functions, Ask Merrill content updates, draft Service Weekly articles, track metrics, and various projects.

Additional Job Description

Required Skills:

The ability to work effectively with financial advisors and sales specialists for the resolution of identified problems while ensuring strict compliance with complex regulatory requirements.

Strong analytical and problem solving skills. Positive attitude, strong work ethic and team player.

Well organized individual with writing and phone communication skills are a must to ensure outstanding service is delivered to internal clients.

Desired Skills:

Finance or Business Degree

Series 7

Strong understanding of the GWIM business

Strong knowledge of BRIDGE


1st shift (United States of America)

Hours Per Week:


Learn more about this role

Full time


Manages People: No

Travel: No


Talent Acquisition Contact:

Referral Bonus:

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "EEO is the Law" poster, CLICK HERE at https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf .

To view the "EEO is the Law" Supplement, CLICK HERE at https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCPEEOSupplementFinalJRFQA508c.pdf .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free workplace and alcohol policy, CLICK HERE .