Loan Servicing Specialist

Description

BASIC FUNCTION:

Process loan renewals, perform loan file maintenance, and process transactions required for quality loan servicing. Process paid out loans and charge-offs. Maintain loan documents in the banks imaging system and in paper format, where required. May manage the loan escrow process, review loan on-boarding and other account maintenance for accuracy and appropriateness. May research and respond to customer inquiries and credit reporting disputes in a timely and courteous manner. Provide back-up to escrow processing. All duties should be performed in accordance with established policies and procedures, with appropriate documentation of actions taken.

ESSENTIAL FUNCTIONS:

• Loan file maintenance, renewal/modification, and paid out processing
  • Process requests from bank personnel to modify loan account information, after verification of accuracy of request and completeness of documentation (proper approval, as applicable; consistency with other account information; research of appropriateness of request)
  • Perform relevant account maintenance to reflect renewal or modification to terms in accordance with loan documents executed by customer
  • Perform collateral releases and prepare correspondence to borrower to process paid out loans; perform and retain necessary documentation of action taken
• Facilitate accurate accounting of loans in the core system
  • Resolve un-posted transactions
  • Perform transaction postings and reversals as needed for accurate accounting
  • Process loan charge-offs
  • Assist in processing wires and other electronic transactions
• Perform account maintenance with respect to escrow records, process disbursements, and perform annual account analysis
• Customer service/credit reporting maintenance
  • Research and respond to customer billing questions, credit reporting inquiries, or other customer service needs
  • Provide timely research and response to credit reporting disputes submitted from the customer via E-Oscar
  • Maintain records of responses to requests
• May perform loan on-boarding and file maintenance review
  • Review all new loans boarded to the accounting system for accuracy of critical data points in accordance with the loan documentation executed by the borrower,
  • Verify the accuracy of maintenance performed in accordance with the request and completeness of documentation
• May perform quality assurance review on consumer mortgage portfolio originated for the secondary market
• Assist with document management and record retention:
  • Scan and/or import documents to the banks official electronic document storage system
  • Assist in performing quality assurance review of imaged documents
  • Ensure proper retention, filing, and security of original documents required to be retained after imaging, per the banks retention guidelines

SKILLS, KNOWLEDGE, AND TRAINING:

• Organizational and time-management skills to work efficiently and complete tasks in a timely manner
• Ability to identify and manage workflow priorities with nominal supervision
• Interpersonal and communication skills to represent the Bank in a positive way in dealing with customers and co-workers and convey information effectively
• Strong attention to detail and ability to learn quickly
• Mathematical aptitude
• Knowledge of computer technology including, but not limited to, Word, Excel, e-mail, and internet navigation

WORKING CONDITIONS:

• Sitting for long periods of time; approximately 8 hours a day with the ability to move around a little.
• Lift 10-20lbs periodically.

REQUIREMENTS:

• High school diploma or equivalent
• Prior banking experience required, preferably in lending area (years of experience required depends on level of position)
• Maintain up-to-date knowledge of and adhere to all state and federal regulations that pertain to this position including but not limited to Bank Secrecy Act, Consumer Privacy and Fair Lending.
• Working knowledge of state and federal regulations including but not limited to Bank Secrecy Act, Consumer Privacy and Fair Lending along with industry best practices that pertain to this position.

Qualifications