Loan Administration Associate

At Ocean First Bank, each one of our employees plays an important role in delivering value to our customers and executing daily tasks in accordance with our core values. We recognize that our employees are essential to our success, making Ocean First a great place to work and do business. Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more!

Apply today to #Become Ocean First  and make an impact in the local community!

Performs loan administration duties in connection with all residential, consumer loans and reverse mortgage loans serviced by the Bank and/or its subservice rs. Provides administrative support, handles and resolves subservicer requests and assists with customer service. Responsible for managing and maintaining the Mortgage Electronic Registration Systems (MERS) database for the Bank's loan portfolios. Responds to written consumer complaints and inquiries related to credit bureau reporting and submits updates via consumer reporting agencies.

• Conducts research including but not limited to interpreting payment histories verifying loan balancing information, payment application, ARM loan adjustments, escrow payments/disbursements and escrow analysis. Responds and resolves subservicer requests for information.
• Assists in high-level financial and non-financial transactions to loan accounts, including but not limited to
  -fulfillment of borrower advances requests, HELOC High Dollar and verification, fund transfers, and coordinates or processes data entry requests.
• Process credit bureau reporting corrections and amendments. Responds to credit disputes via E-Oscar, submits credit corrections or updates to the credit bureaus via E-Oscar. Determines if credit reporting correction is justified and escalates to the manager as needed. Prepares notification of credit bureau review to the customer.
• Provides administrative support to the subservicer and Subservicer Oversight Specialist related to loss mitigation, loan modifications, bankruptcy, foreclosure assignments and customer disputes.
• Ensures accurate and timely updates to the MERS database. Conducts monthly reconciliations of MERS data.
• Addresses and resolves any discrepancies or issues related to MERS registrations, transfers and deactivations.
• Processes monthly line of credit portfolio file with Credco. Reviews credit bureau alert results and forwards the information to the Loss Mitigation Specialist.
• Assists with secondary marking functions including preparing seasoned loans for bulk transfers and providing trailing documentation to investors as required.
• Provides assistance to Branch staff regarding processing payments, inquiries and requests to subservicer.
• Prepares allonges, assignments, letters and various other documentation as needed.
• Processes all Loan Administration department invoices using Concur.
• Orders and tracks appropriate appraisal and inspections as required. Assists with procedures and policy updates as needed.
• Participates in projects in Loan Operations including conversions, mergers and other special projects, as needed.
• Understands compliance with all regulations governing the banking industry, as well as agency guidelines and organization policies.
• Understands the compliance requirements for Loan Operations to ensure files are maintained in accordance with regulations.