Loan Servicing Representative

Description

As a Loan Servicing Representative, you are responsible for efficiently onboarding various types of loans into our Core COCC Insight System, ensuring accurate loan maintenance, addressing member inquiries, and performing day-to-day operational functions for our loan portfolio.

Requirements

The essential functions of this position ensure a wide range of support to the Loan Servicing department and may include, but are not limited to:

• Onboard Mortgage Loans, Home Equity Line of Credit (HELOC), HELOANS, and Consumer Loans, into the Core COCC Insight System.

• Address loan maintenance, member inquiries, reports, and functions daily.

• Review critical system-generated lending reports related to payments, loan onboarding, payoffs, discharges, and determine appropriate solutions.

• Ensures Certificate of Titles for the auto loans are perfected using title tracking software and various states official motor vehicle sites to protect the collateral and our security interest.

• Assist with the management of the City of Boston Credit Union tax escrow and monitoring program, including member analysis, shortage, remittance, and liaison with Town/City Assessor’s offices, as well as the Credit Union’s Tax Service Vendor.

• Monitor Flood Insurance coverage and ensure yearly payments comply with regulatory requirements. Set up flood escrow on applicable accounts and update flood maintenance as needed.

• Collaborates with forced place insurance vendor to monitor, track and file maintain individual polices.

• Process mortgage discharges.

• Review private mortgage insurance reports to identify members no longer required to carry insurance, cancel PMI if criteria are met, and update the database to re-calculate Member’s escrow account/payment. Handle monthly premium submissions to the MI companies.

• Submits disability & Life insurance claims. Manages disability insurance benefit payments

• Perform account maintenance tasks such as title changes, ACH/AFT setup, address changes, stop payments, account restrictions, process check orders, and re-orders.

• Monitor applicable Treasury Indexes used for the Credit Union’s variable rate loan products on a weekly basis and make appropriate system adjustments.

• Conduct file maintenance in the core system as needed or directed.

• Address VISA credit card maintenance, member inquiries, reports, and functions daily.

• Maintain consistent compliance with credit union policies and procedures and regulatory laws applicable to position.

• Complete annual regulatory compliance and required job related training as assigned; actively participate in job-related educational and professional development opportunities.

• Participate in departmental cross-training, special projects, and perform additional duties as required.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.

The requirements listed below are representative of the qualifications required of the position:

• High school diploma or equivalent; Associate degree in business, finance or accounting preferred

• 1-3 years of consumer lending or consumer loan servicing experience preferred

• Minimum two (2) years of experience in financial services industry and banking operations preferred

• Strong understanding of loan products, regulations, and compliance requirements.

• Experience with Core COCC Insight System preferred

• Experience with various servicing systems, to include Credit Card servicing, Title tracking, Real Estate Tax Service, and Flood/PMI servicing systems

• Excellent communication skills and ability to interact effectively with internal teams and external members

• Detail-oriented with strong analytical and problem-solving abilities

• Ability to prioritize tasks, work independently, and meet deadlines in a fast-paced environment

• General knowledge of accounting principles preferably

• Working knowledge of mortgage loan terminology and regulations preferred

• Fluent in English; Bilingual a plus

• Thorough knowledge of laws and regulations governing credit union operations as applicable to position

• Knowledge of and adherence to proper telephone and email etiquette

• Accurate data entry and strong technical and mathematical skills

• Demonstrated proficiency in basic computer applications, including Microsoft Office Suite (Word, Excel, Outlook, etc.) and internet navigation

• Exceptional interpersonal, verbal and written communication and phone skills

• Developed organizational and time management skills

• Strong critical thinking, problem solving, and reasoning skills

• Self-motivated and capable of working efficiently and with accuracy in a dynamic, high-volume environment with established productivity goals

• Commitment to team environment, member confidentiality and outstanding member service.

• High degree of professionalism with positive and professional image and demeanor
• Consent to conduct pre-and-active employment background screenings