Loan Servicing Specialist

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.