What are the responsibilities and job description for the Investor Servicing Specialist position at Bangor Savings Bank?
Responsible for servicing the Bank's (residential mortgage) investor loan portfolio while aiding in the implementation and execution of consistent controls to mitigate operational risk while providing exceptional levels of customer service to all internal and external clients.
Responds to requests efficiently and thoroughly with a focus on prompt and knowledgeable resolutions and demonstrates and/or develops a high level of proficiency with the Bank's core banking system (Jack Henry Silverlake) to perform loan file maintenance and other updates to the system. Additionally, verifies all maintenance performed is accurate and relevant to particular loan product(s).
Level 1: Primary focus is on the personal development of skills and acquisition of knowledge related to the role. Quality of work is vital to success and growth to higher levels.
Level 2: Level 1 expectations of continued development of skills, acquisition of knowledge, and quality of work remain with additional focus on increasing production of work-product.
Level 3: Level 1 and 2 expectations of quality, production, and continued development/knowledge growth remain with added responsibilities that may include training less-experienced associates, assisting with complex issues/projects, reviewing processes and procedures for improvement opportunities.
Key Accountabilities
Responds to requests efficiently and thoroughly with a focus on prompt and knowledgeable resolutions and demonstrates and/or develops a high level of proficiency with the Bank's core banking system (Jack Henry Silverlake) to perform loan file maintenance and other updates to the system. Additionally, verifies all maintenance performed is accurate and relevant to particular loan product(s).
Level 1: Primary focus is on the personal development of skills and acquisition of knowledge related to the role. Quality of work is vital to success and growth to higher levels.
Level 2: Level 1 expectations of continued development of skills, acquisition of knowledge, and quality of work remain with additional focus on increasing production of work-product.
Level 3: Level 1 and 2 expectations of quality, production, and continued development/knowledge growth remain with added responsibilities that may include training less-experienced associates, assisting with complex issues/projects, reviewing processes and procedures for improvement opportunities.
Key Accountabilities
- Responsible for understanding (and/or learning) the Bank's investor loan portfolio, which currently includes, but is not limited to, residential mortgage loans serviced for Freddie Mac, Fannie Mae, Maine State Housing Authority, and Federal Home Loan Bank.
- Acts as the primary contact for all matters related to servicing investor-owned or serviced residential mortgage loans.
- Work closely with internal and external partners, including investor contacts, to ensure the bank services the loans following all investor guidelines and requirements.
- Ensures that investor reporting and remittance are completed accurately and in accordance with established deadlines.
- Helps to ensure the Bank adheres to applicable federal (and state) regulations pertaining to Residential Mortgage loans. These include, but are not limited to, the following:
- Consumer Financial Protection Board (CFPB)
- Fair Credit Reporting Act (FCRA)
- Real Estate Settlement Procedures Act (RESPA)
- Homeowners Protection Act (PMI Act)
- Service members Civil Relief Act (SCRA)
- Truth in Lending Act (TILA)
- Ensures consistent compliance with policies and procedures and a constant state of internal and external audit readiness.
- Responsible for self-study on topics relevant to residential mortgage lending and investor servicing.
- Independently resolves complex customer issues accurately and timely, requiring contact with internal departments, external law offices, insurance agencies, government agencies, credit bureaus, and others, as required.
- Actively seeks opportunities to maximize operational efficiency and accuracy by creatively developing and implementing improved processes that help to mitigate risk and enhance the customer experience.
- Interacts harmoniously and effectively with others, focusing on attaining bank goals and objectives through a commitment to teamwork.
- Conforms to acceptable punctuality/attendance standards as expressed in the Employee Handbook
- Performs additional duties as assigned, including providing training to newly hired colleagues.
- Investor Servicing, Reporting, and Remittance
- Processing of Secondary Market Mortgage Sales
- Loan Modification Coordination and Processing
- Private Mortgage Insurance Servicing
- Government Guarantee Servicing and Reporting
- Loan Account Maintenance
- General Ledger Reconciliation
- College Degree Preferred
- High School Diploma or Equivalent Required
- Banking, Lending and/or Loan Servicing Experience Helpful
- Committed to providing exceptional customer service
- Strong computer skills with the desire to learn and apply new technology
- Demonstrated ability to effectively communicate, verbal and written
- Proven ability to meet goals and standards and perform in a fast-paced, challenging work environment
- Capacity to work with little supervision and make independent decisions
- Ability to research and solve problems
- Ability to manage multiple tasks concurrently and prioritize accordingly
- Required to attend ongoing training sessions to improve professional skills.
- Assists in ensuring that the Bank complies with local, state, and federal regulations
- General office environment.
- Moderate lifting (to 35 lbs.) required. In addition, moderate reaching, walking, sitting, and standing are required.
- General office equipment.
