Residential Loan Servicing Representative

SUMMARY/OBJECTIVE

The Residential Loan Servicing Representative performs a variety of activities in conformance with established bank policies, procedures and objectives while providing the highest level of service and responsiveness to customers and co-workers.

• Sets up new residential mortgage, construction mortgage and equity lines of credit into core processing system promptly after closing & funding.
• Reviews new loans booked by other staff members for accuracy and completeness.
• Maintains a log of incomplete or missing documents and follows-up with the Attorneys’ office and/or branch personnel to clear up the issue.
• Organizes new loan file for scanning and filing.
• Performs general ledger reconciliations daily and monthly for assigned accounts.
• Responds to verbal & written requests for loan payoffs from attorneys and customers.
• Processes payments and payoffs daily, completes required general ledger tickets under dual control and produces balance sheet at end of day.
• Receives daily hazard insurance mail and reviews the daily and weekly reports provided by our vendor for ongoing tracking.
• Maintains report for Residential loans with flood insurance, ensures that coverage is adequate and in force for the life of the loan.
• Responsible for the timely payments of real estate taxes for both Residential & Commercial loans. Works closely with Tax Service to maintain current data on their system and ours.
• Assists with reviewing the periodic escrow disclosure notices and handles customer calls on the annual escrow analysis results.
• Processes re-amortization schedules, as a result of substantial principal curtailments.
• Works with the vendor to force place hazard or flood insurance when needed.
• Responsible for the payment of PMI premiums, escrowed hazard & flood insurance premiums to the third-party vendor.
• Monitors and maintains monthly rate changes for Adjustable Rate Mortgages. Sends notices to borrowers and responds to customer inquiries.
• Prepares regular and confirmatory mortgage discharges and related correspondence for paid loans to attorneys and/or borrowers.
• Performs monetary and non-monetary maintenance on covered loans under dual control.
• Performs any function within scope of authority and expertise to support department goals, as assigned by the manager.
• Handles a variety of internal and external residential loan servicing calls.
• Receives incoming wires for loans purchased and prepares a funding sheet for manager’s approval. Processes loan transfer transactions on Core Processor, on MERS and on People Soft. Ensures that the Transfer of Servicing letters are mailed to Borrowers.
• Prepares outgoing wires for Investor remittances, funding of new loans and payment of real estate taxes via Core Logic.
• May serve as the Receptionist for the Residential Lending area.

• Familiarity with investor reporting experience is preferred.
• 1-3 years of experience in Residential Lending preferred.
• Associates degree or equivalent relevant work experience.
• Must be detailed, organized and customer service oriented.
• Should possess intermediate technology skills, including knowledge of Word & Excel, and working with a core processor.
• Team player with a positive attitude.

The hourly rate range for the Residential Loan Servicing Representative is $26.50 - $28.85 per hour.