Credit Services Representative - Loan Payoff

Overview

Credit Services Representative I - Loan Payoff

• Protect the bank’s assets by ensuring the integrity of all collateral and loan files. Process daily paid loan files for consumer and commercial loans as assigned. Prepare payoff quotes and payoff letter requests. Perform payoff processing for incoming 3rd party payoff remittance checks, wires, rejected and/or un-posted payoff transactions that require special handling to post correctly to the system. Provide phone support concerning problems and questions related to loan processing.
• Process 3rd party payoffs that come into the department via checks, wires, electronic payments, etc. utilizing the Silver Lake loan system.
• Provide payoff quotes both verbal and written as requested by internal parties as well as external clients and third parties using Silver Lake system and fee schedule.
• Assess prepayment penalty fees, early termination fees, lien release fees, and other fees associated with the payoff of loans.
• Coordinate necessary internal documents needed for the process of wire transfers and checks to pay off all loan types, process refunds and refund letters to clients.
• Process release of collateral as approved by loan modification requests and for paid off loans in a timely manner, including but not limited to: life insurance, stocks, real estate, UCCs and vehicles.
• Maintain/update a log of service events and email requests assigned to group; process maintenance related service events and email requests, including but not limited to: payment reversals, backdated payoffs, payoff quotes, and waivers.
• Maintain various daily, weekly and monthly reports to update customer records concerning: collateral, insurance, refinances and unposted items. Work the Unposted, Refinance, HELOC Close and Satisfy, and Zero Balance with Escrow reports as required to ensure payoff accuracy and client communication.
• Collect dealership title releases to release titles to dealerships within one business day.
• Prepare paid loan files for scanning and Paid in Full Letters and refunds for clients.
• Research dated or converted mortgages to determine if mortgage(s) should be satisfied and report MERS Mortgage payoff information to Supervisor.
• Perform maintenance to cancel Private Mortgage Insurance when applicable.
• Communicate with clients, Financial Solutions Centers, Engagement Center, and third parties to ensure risk management of each client relationship is in compliance with policy and procedure, as well as regulatory guidelines.
• Prepare Lien Release Letters for clients as well as dealerships and provide exceptional customer service through written and verbal communications with customers and branch operations.
• Assist in various projects, including mergers, additional assignments from outside of department, forbearances, bank system release and upgrade testing.

• High School Diploma or equivalent required. Minimum of two (2) years related work experience preferred.
• Excellent verbal and written communication skills, exceptional relationship-building skills, strong analytical and mathematical skills, and a motivation to learn and contribute to continuous improvements are required.
• Proficiency in MS Word and Excel is required.
• Ability to work closely with team members to ensure daily work is completed.
• Ability to access filing cabinets and transport bulky files.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.