Loan Servicer

Description

Position Summary

This is a detail oriented position responsible for performing pre and post-closing duties relating to the servicing of the Bank’s retail and commercial loans. Support functions include but are not limited to, customer service for existing loans, loan reporting, transaction processing, , pay-off calculations, collections, account reconciliations, quality control and project management support.  By following The Pledge, assists in the attainment of departmental goals and promotes other banking products and services to our customers.                           

Responsibilities

Set up and book new loans on the system.

Maintain and track collateral, documenting and securing appropriately.

Update automobile title files, process title transfers.  Communicate with RMV for missing documentation.

Process daily transactions and contacts customers or branch personnel for clarification when needed. Oversee and review file maintenance changes and weekly index changes.

Provide customer assistance with issues relating to loans, payments, tax escrow, insurance, and collateral as well as support branch personnel in customer service.

Maintain and track homeowners’ and auto insurance policies and related correspondence.

Update databases and process lien releases.

Review exception loan bills and forward onto to customers after verification and/or correction.

Calculate loan payoff figures and prepare payoff letters and related correspondence.

Review ARM and rate changes and notices

Monitor delinquencies, perform collection procedures, and mail past due notices to Customers

Prepare discharges, return documents to customers, release collateral, and cancel notes.  Process closed loan files.

Assist Operations and Accounting on matters of returned or rejected payments.

Delinquent tax tracking and reconciliation of associated accounts.

Coordinate tax reports between interested parties, i.e. tax services, core system, and municipalities for annual escrow disclosure statements/corrections.

Oversee payment conversions on equity loans, complete changes in core system and notify customers.

Review and audit daily/monthly system reports as assigned.

Review closed loan report on a daily basis.

Responsible and accountable for accuracy and quality control of work produced. 

Monitor closing dates of pending loans, and communicate as needed.

Quality Control:

Responsible for all loan types quality control/post-closing audits to ensure that all regulatory requirements have been met. 

General:

Perform related lending services and clerical work as needed; answer phones, great customers in reception area and provide general banking information to customers.

Sort and distribute incoming mail: processing outgoing mail daily.

Participate in Community Commitment Initiatives (CCI).

Supervisory Responsibilities

Number of employees supervised:  NA

Title(s) of employees supervised:  NA

Qualifications

Experience

High school diploma with one or more years of banking experience, preferably in loan servicing.

Specific Skills Required

Mathematical Skill                                           

Ability to compute rate, ratio, and percent and other mathematical functions and equations relative to mortgage and consumer loans.

Technology Skills

All employees are expected to possess basic technology skills including knowledge of basic PC's skills. 

Additional levels of technology skills may be required based on specific duties of the position.

Proficiency in Microsoft Office programs and bank proprietary applications specifically used in the loan servicing and the lending area.

Soft Skill: Work independently.

The Village Bank is an Equal Opportunity Employer
The Village Bank is committed to the policy of providing equal employment opportunities for employment, training, compensation, transfer, promotion, and other aspects of employment for all qualified applicants and employees without regard to sex, race, creed, color, religion, national origin, age, sexual orientation, gender identity or expression, veteran status, physical or mental disabilities, genetics or any other status protected by law.