What are the responsibilities and job description for the Loan Servicing Manager (Onsite) position at Frontwave Credit Union?
Overview:
About Frontwave Credit Union:
What’s In It For You:
Competitive pay, 401k matching, mortgage and auto discounts.
9-27 days of PTO per year (based on tenure) and 10 paid holidays.
Affordable medical, dental, vision health plans, and Flexible Spending Account.
Employee Assistance Program with a variety of services.
Career development, training, and coaching, mentoring; tuition reimbursement up to $4,000/year.
Culture of excellence and continuous improvement.
We strive to be the best place you’ve ever worked!
Responsibilities:
Salary Range: -$102,834.52 - $154,251.78
Service Excellence Standards: When joining Frontwave Credit Union, you can expect to be a part of a workforce committed to the following Service Excellence standards: • We see it. We own it. We get it done. • We ignite positive experiences. • We do things right every time. • We are collaborators - united, cohesive and engaged • We innovate and evolve. • We create memorable experiences for life. • We starts with me.
The Loan Servicing Manager is responsible for overseeing the daily operations of the loan servicing department, which includes business, commercial, consumer, and real estate lending activities. This role ensures accurate and efficient processing of loan payments, modifications, payoffs, escrow management, vehicle title processing, ancillary products payment and claim processing, Fannie Mae (FNMA) servicing, vehicle insurance tracking, and member inquiries. Additionally, the Loan Servicing Manager ensures compliance with regulatory requirements, optimizes operational workflows, and provides leadership to the loan servicing team to maintain high levels of member satisfaction and operational excellence.
About Frontwave Credit Union:
Frontwave Credit Union is a member-owned not-for-profit financial institution serving San Diego, Riverside, and San Bernardino counties. Founded in 1952, we have grown to 13 branches with 120,000 members and manage over a billion in assets. At Frontwave Credit Union, we are focused on creating consumer solutions to provide our members and the communities we serve with products and services that enhance the quality of life for our members through exceptional service and the progressive application of technology.
What’s In It For You:
Competitive pay, 401k matching, mortgage and auto discounts.
9-27 days of PTO per year (based on tenure) and 10 paid holidays.
Affordable medical, dental, vision health plans, and Flexible Spending Account.
Employee Assistance Program with a variety of services.
Career development, training, and coaching, mentoring; tuition reimbursement up to $4,000/year.
Culture of excellence and continuous improvement.
We strive to be the best place you’ve ever worked!
Responsibilities:
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Includes the following non-inclusive list. Other duties may be assigned. All duties are to be performed in compliance with applicable laws, regulations and Credit Union policies and procedures.
- Oversee all aspects of loan servicing, including payment processing, escrow management, insurance tracking, lien releases, and loan modifications.
- Ensure accurate and timely posting of loan payments, payoffs, and adjustments.
- Monitor loan servicing activities to ensure compliance with credit union policies, regulatory guidelines, and investor requirements.
- Implement and maintain procedures to enhance efficiency, accuracy, and member service quality.
- Manage reporting and reconciliation of loan accounts, ensuring accuracy in loan data and financial reporting.
- Directs the creation and ensure timely updates of the Consumer, Mortgage and Commercial Lending processes and procedures related to loan servicing and quality control
- Oversees accurate and timely loan correction requests
- Acts as liaison between mortgage quality control company and Real Estate Lending Department
- Manages, develops and maintains effective quality control procedures for consumer, mortgage and commercial Loans
- Manages third party real estate lending sub-servicer provider
- Maintain working knowledge of secondary market servicing, preferably with Fannie Mae (FNMA).
- Develops, writes and implements new policies and procedures related to consumer, mortgage and commercial loan servicing.
- Ensure compliance with Credit Union policies and procedures, all federal and state lending regulations, including RESPA, TILA, FCRA, DFPI, NCUA and CFPB guidelines.
- Conduct periodic audits of loan servicing activities to identify and address compliance risks.
- Collaborate with internal and external auditors to provide necessary documentation and implement corrective actions.
- Address complex member inquiries and disputes related to loan servicing, ensuring timely and effective resolution.
- Work with collections and lending teams to support member needs, including loan modifications and hardship programs.
- Serve as a liaison between the credit union, external vendors, and regulatory agencies regarding loan servicing matters.
- Work with technology and lending teams to enhance loan servicing systems and automation processes.
- Identify opportunities to improve efficiency through system enhancements, process redesign, or new technology adoption.
- Maintain knowledge of industry best practices and recommend innovative solutions to optimize servicing operations.
- Overseeing vehicle title processing, registration, and lien recording functions
- Acts as liaison between title vendor, multiple state agencies and Credit Union
- Responsible for ensuring accurate and timely processing of vehicle titles, registrations, and lien placements, while adhering to state(s) regulations and credit union policies.
- Acts as liaison between various insurance vendors and the credit union.
- Oversees payment remittance for all ancillary products including Guaranteed Asset Protection, Mechanical Breakdown Protection and Debit Protection
- Oversees claims process for all ancillary products
- Acts as Liaison for multiple vendors to include credit bureaus, state agencies and other business partners
- Supervise, coach, and develop loan servicing staff, providing ongoing training and performance evaluations.
- Supervises staff in accordance with credit union policies and applicable state and federal laws
- Foster a positive and collaborative work environment that aligns with the credit union’s mission and values.
- Set performance goals and key performance indicators (KPIs) for the loan servicing team.
- Ensure effective cross-training of team members to maintain operational continuity.
EDUCATION and/or EXPERIENCE:
Bachelor’s degree or five years related financial institution or credit union experience and/or training; or equivalent combination of education and experience in consumer, mortgage and commercial lending operations and regulations.
Prefer at least two years mortgage servicing experience.
Minimum two year supervisory experience.
Salary Range: -$102,834.52 - $154,251.78
Salary : $102,835 - $154,252
