Loan Servicing Associate

Description

Position Purpose

The Loan Servicing Associate of First Federal Savings serves as a critical operations position in the loan process after a loan has been originated. The Loan Servicing Associate works closely with the Loan Servicing staff and the Loan Servicing Manager to ensure timely and accurate loan documentation, maintenance, and administration. The Loan Servicing Associate position is a full-time, in-office role in our Downtown Newark, OH office. 

Reporting Relationships

The Loan Servicing Associate reports to the Loan Servicing Manager and has a collaborative relationship with the Loan Closing department.

Key Responsibilities

Loan and File Management

• Execute the release for all loan payoffs by maintaining accurate records online, breaking down the paid off loan file, and mailing appropriate letters and documentation to customers.
• Prepare payoff quotes upon request.
• File various documents into loan files in the records vault. Verify scanned documents in Identifi.
• Deliver and retrieve documents for recording at the Licking County Recorder’s Office.
• Maintain an understanding of all loan document types and products.
• Setup new loans on the system.
• Setup and monitor Pre-Authorized Transaction accounts to ensure payments are posted in a timely manner.
• Review various file maintenance reports for accuracy.
• Partner and communicate with loan officers for loan servicing questions, including pulling requested loan files, copying documents and filing loan files in the records vault.
• Review and date stamping of the daily insurance mail, contacting insurance agents for current insurance policies and assisting with file maintenance of property tax records.

Regulatory and Compliance

• Maintain current knowledge of all regulations and compliance issues that may affect loan servicing and First Federal’s documentation.
• Ensure that all loan processing and closing operations are aligned with First Federal policies and procedures, maintain regulatory compliance, and are in service of the vision.

Customer Service and Communication

• Deliver outstanding customer service throughout the loan servicing process.
• Communicate all relevant information to the loan officer and customer, when appropriate.
• Assist and address internal and external customer inquiries with a sense of urgency and understanding.
• Seek proactively any additional duties or projects that support the Loan Servicing department.

Requirements

• High school diploma required.
• A communication style defined by collaboration, honesty, kindness, and enthusiasm.
• A proven work ethic characterized by motivation, a strong detail-orientation and an outstanding ability to multi-task.
• Strong follow-through and dependability.