Loan Servicing Specialist presso Savers Bank

Description

The Loan Servicing Specialist is responsible for the day-to-day management of loan accounts, including processing payments, handling customer inquiries, and ensuring that all residential and consumer loan servicing activities comply with industry regulations and company policies. Conducts research to resolve account issues. This role involves working closely with borrowers to manage their loan accounts efficiently, addressing any issues or concerns, and maintaining accurate records of all transactions and communications. Provides exceptional customer service while maintaining confidentiality of bank records and customer information. Works independently under the supervision of the VP, Loan Servicing.

KEY RESPONSIBILITIES:

· Performs all functions supporting the daily operations of the Loan Servicing Department relating to Residential mortgages, home equity loans or Consumer loans (auto, personal etc.) ensuring timely and accurate processing of payments, adjustments, account updates and payoffs.

· Performs loan documentation reviews; ensures proper documentation and verifies any inconsistencies in documentation or transfer of data from Mortgagebot/LenderLink and LoanWriter.

· Processes routine and more complex transactions including new loan booking, loan disbursements, wires, loan payments, advances, loan account reconciliations, and third-party reporting in accordance with established procedures.  Addresses inquiries, researches and resolves issues.

· Ensure timely and accurate payment of homeowner's insurance, mortgage insurance, flood insurance and other escrowed items on behalf of borrowers. Track and manage renewals of homeowner’s insurance policies, ensuring continuous coverage and compliance with loan agreements.

Customer Service:

· Provides exceptional customer service, maintains a cooperative and professional manner with internal and external customers.

· Respond to borrower inquiries regarding loan terms, payment schedules, account balances including escrow accounts, insurance payments, escrow analysis, and changes in payment amounts.

· Resolve customer issues and concerns in a timely and professional manner, providing accurate information and guidance, escalating complex cases to higher management when necessary. 

· Work with Underwriting and Collections to ensure a seamless loan servicing process

Compliance and Documentation:

· Sustains current working knowledge of all internal policies and procedures as well as regulatory requirements to ensure all loan servicing, escrow and insurance activities comply with federal, state, and local regulations, as well as company policies and procedures.

· Maintain detailed and accurate records of all loan transactions, borrower communications, and account activities.

· Prepare and distribute loan statements and other required notices to borrowers in accordance with regulatory requirements.

Requirements

· Associate’s degree in Finance, Business Administration or a related field is preferred

· Minimum of 2 years of experience in loan servicing, banking, or a related financial services role

· Familiarity with mortgage servicing or consumer loan servicing is preferred

· Knowledge of COCC Insight preferred, but not required.

· Intermediate knowledge of Microsoft Office Suite (Excel, Word, Outlook) 

Skills:

· Excellent communication, analytical and customer service skills, with the ability to handle complex borrower inquiries and issues

· Strong attention to detail, and strong time management and organizational skills

· Ability to work independently and manage multiple tasks in a fast-paced environment and manage workflow within established guidelines

· Ability to analyze loan data, identify discrepancies, and develop solutions to improve accuracy and efficiency.