Loan Operations Specialist​/Loan Servicer

South Ottumwa Savings Bank is seeking a motivated individual to join our Bank team as a Loan Operations Specialist / Loan Servicer at our Church Street location in Ottumwa, Iowa. The role ensures accurate processing, regulatory compliance, and efficient support of all areas of the loan department, managing documentation, payments, escrow, insurance, and system maintenance while working closely with staff, vendors, and customers.

Benefits include paid holidays, paid time off, health, dental, vision, life, and disability insurance options, and a generous 401(k) retirement plan with an employer match.

• Demonstrate comprehensive knowledge of Bank policies and procedures and maintain proficient understanding of state and federal regulatory compliance related to loan servicing, loan documentation, bank core system functions, and all outlined responsibilities.
• Cooperatively share and rotate responsibilities among all loan servicers, maintaining full knowledge of duties to ensure consistent coverage and operational flexibility.
• Engage in ongoing self‑development and participation in formal training.
• Show exceptional attention to detail, prioritize work assignments and balance workloads under time constraints.
• Promote and provide excellent customer service by effectively communicating and cooperating with internal and external customers.
• Work closely with direct supervisor to provide training to the loan department on loan servicer responsibilities.
• Provide coverage at the loan department reception desk.
• Review daily system reports to ensure all payments processed correctly and correct any payment errors, including FHLB payment reporting and creating ECRs for corrections.
• Review daily loan file maintenance reports to ensure accurate entry of new loans and loan file maintenance; notify appropriate employee of any needed corrections.
• Conduct annual escrow analysis statement process, validating accuracy and compliance, and provide support to loan officers and customers.
• Oversee insurance for all loans: maintain up-to‑date coverage, disburse hazard and flood insurance from escrow accounts, add/remove bank as lien holder, issue new policies, monitor renewals and cancellations.
• Manage property tax escrow distributions: monthly balancing, processing distributions, payments to county treasurers, updating system amounts.
• Handle PMI: pay monthly premiums, ensure appropriate system fields, monitor loans nearing cancellation, process cancellations.
• Monitor loans secured by collateral in flood zones monthly/annually and weekly flood determinations; perform flood review prior to closing.
• Perform duties involving bank’s interest rates: high‑priced testing, obtain updated indexes weekly, update system, prepare rate sheets and distribute to staff.
• Review final title opinions, guaranties, abstracts, and recorded mortgages for accuracy; notify parties of corrections.
• Ensure accurate and timely borrower loan data reporting to credit bureaus; investigate and resolve credit bureau disputes via e‑Oscar and monthly reports.
• Prepare adverse action notices for denied/withdrawn loan applications, maintain denied/withdrawn log and ensure timely mailing.
• Review and balance vendor billings such as Equifax, CBMS, and loan coupon books.
• Prepare paper loan files for scanning, upload electronic files to imaging system, and provide second review of scanned/uploaded documents.
• Handle credit life and disability policies: process new and closed policies, maintain records, process entries to checking or ledger accounts.
• Assist with daily, monthly, quarterly, or annual loan reports and reviews (e.g., EOD report, CD/Savings/Stock/Bond secured loan review, paid loan report).
• Perform lien perfection duties: release mortgages and title liens, process new title liens, record new mortgages, mail paid notes and letters to customers.
• Perform admin responsibilities for department websites and software: add/remove users, provide training and support, communicate with vendors, process updates.
• Research and handle outstanding checks and transactions in loan department checking account and assist operations with account reconciliation.
• Perform loan…