What are the responsibilities and job description for the Loan Servicing Representative position at CORNERSTONE COMMUNITY FINANCIAL CREDIT UNION?
Job Description
Job Description
Our Opportunity :
The Loan Servicing Specialist is responsible for reviewing every aspect of the processing, funding, and closing of loans to ensure efficiency standards, service expectations, and compliance requirements are upheld. This position will be expected to have a comprehensive understanding and knowledge of the CU’s consumer and indirect loan products, policies, and procedures. Establishes loan files and orders documentation required to process loans. Responsible for the accuracy and completeness of all loan documentation. Processes consumer loan files after closings to ensure that documents are recorded with proper recording authority and the loans are entered correctly into the company records. Inputs loan documents, processes loan payoffs and maintains loan files.
What You'll Do in This Role :
- Ensure loan applications are complete, and all calculations are accurate and complete prior to closing. Review and analyze all documentation received to determine ratios and credit and collateral acceptability. Verify all documentation including, but not limited to, income verification documents, collateral insurance binders, purchase orders, bills of sales, collateral title & registration documents, marine survey, and marine title documents making sure all documentation is complete and security pledged is sufficient.
- Facilitate the clearing of all underwriting conditions and documentation requirements by working with members, branch staff and underwriters upholding CCF's Mission, Vision and Service Promises in order to receive a final approval and clear to close. Work with external vendors to clear all collateral conditions necessary to close the loan. Ensure member problems and issues are resolved promptly with follow-through to completion. Identify red flags in loan documentation in order to avoid potential fraud and surface up issues to management.
- Complete funding & disbursement of each consumer loan and prepare consumer loan documents for member signature. Fund indirect loans with appropriate proceeds to dealerships along with the appropriate administrative fees. Contact members and / or outside companies and dealer partners to negotiate final terms and coordinate signing appointments. Demonstrate and acquire knowledge on Home Equity documents, process and funding. Receive and audit appropriate paperwork sent from vehicle dealerships. Research and identify missing information and communicate discrepancies with dealership personnel. Communicate with dealerships and members and Home Equity vendors to gather additional information to satisfy loan conditions in order to determine the suitability for loan funding.
- Facilitate closing and perform post-closing reviews to ensure all documents are executed properly by the member or branch and all closing conditions are met.
- Maintain a thorough knowledge of the Credit Union loan policy, lending practices (including state regulations and federal regulatory requirements), and agency requirements regarding consumer lending. Complies with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control. Maintains a thorough knowledge of CCF's consumer loan pricing structure, products, their accompanying forms, and documentation necessary for each loan type.
- Monitor and manage multiple consumer loan processor queues and email inboxes to meet established service levels
- Complete daily reports, monitor and direct workflow processes, communicate daily production volume to management.
What You'll Bring To CCF :
Work Location : This position is based in Toledo Ohio. Hybrid working arrangements are available following 4-6 months of successful employment.
EOE : CCF is committed to equal opportunity and complies with EEOC rules and regulations.
Monday- Friday 8AM to 6PM Rotating Saturday 9AM-1PM
