Loan Servicing Specialist; Indirect

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Full Time Admin - Mid Level Taunton, MA, US

2 days ago Requisition

Salary Range: $21.56 To $26.52 Hourly

Position:Loan Servicing Specialist (Indirect)
Job Type:Full Time
Location:Taunton Massachusetts
Department:Operations
Reports To:Consumer Loan Supervisor

The Loan Servicing Specialist is responsible for performing a variety of loan servicing and clerical activities on the consumer and mortgage portfolios. This position will work with the Loan Servicing Analyst to track, perfect and release collateral associated with the Indirect Lending portfolio. The Loan Servicing Specialist will assist internal and external customers with any questions or concerns regarding the mortgage and consumer loan portfolios while adhering to the Bank’s regulatory compliance objectives.

• Processes and monitors vehicle titles (electronic and physical). Research title issues to ensure timely receipt of missing titles. Reviews all collateral activities including perfection and termination/release
• Responsible for processing loan servicing maintenance and/or modifications.
• Responsible for assisting customers with questions or issues regarding their loan accounts received via inbound calls to the bank’s call center team.
• Review payoff letters for accuracy and compliance.
• Assists in processes collection activity on the Core system. Work in collaboration with the Collections Department.
• Assists with the daily quality control review of all new indirect auto loans. Reviews primary loan documents for accuracy and completeness and ensures proper collateral coverage for secured loans.
• Monitors and processes daily requests in the department email box to meet customers service stands and turn or distributes the request to the appropriate department/team member.
• Reviews account maintenance for all monetary and non-monetary transaction for loan and deposit portfolio to ensure accuracy and adherence to state and federal regulations and /or bank policy.
• Primary backup to the Loan Servicing Specialist in regard to processing payments and payoff transactions.
• Receive phone calls and assist members with miscellaneous loan service issues. Trouble shoots and resolves member inquiries.
• Responsible for consumer loan servicing, monitor daily loan reports, monthly monitoring reports, assist in the implementation of loan document storage and administration of the online payment details.
• Reviews department loan file setups. Verifies all loan documents for accuracy and completeness and ensures proper collateral coverage for secured loans.
• Responsible for preparing maintenance sheets and general ledger entries, as needed.
• Resource for all internal and external questions and issues related to the consumer and mortgage portfolios.
• Maintain a sound knowledge in regulation and law, loan accounting requirements and interpret, implement and administer company policies, procedures, manuals and systems to ensure proper controls are in place to maintain compliance with all applicable regulations.
• Ensure all loan servicing activities comply with federal, state and local regulations. Maintain up-to-date knowledge of industry regulations and best practices.
  • Primary Servicing Regulations RESPA, Mortgage Servicing, Payment Processing, Periodic Statements, Adjustable-Rate Mortgage Disclosures, Payoff Statements, Error Resolution and Request for Information. The Service members Civil Relief Act (SCRA). Regulation O. State Law governing discharges and payoff requirements.

• Process loan payments and reconcile payment discrepancies to ensure accurate posting to borrower accounts. Payments will be delivered through multiple channels (electronic payments, wires or physical checks).
• Process payoff transactions. Confirm sufficient funds to pay the loan in full. Return surplus funds and track, communicate and follow up on payoffs that are short funds.
• Prepare written payoff quotes, verify customer authorization and/or proper approval is received.
• Responds to customer inquiries orally and in writing including payoffs and discharges. Research and resolves servicing issues within scope of authority and expertise. Works with manager to ensure timely and accurate servicing practices.
• Assist with discharges, pay off letter and…