What are the responsibilities and job description for the Loan Servicing Specialist position at Prevail Bank?
Benefits:
- 401(k) matching
- Opportunity for advancement
- Paid time off
Position Summary:
Loan Servicing is responsible for all aspects of residential mortgage and consumer loans after origination, including moving the documents to secure storage in the core system, monitoring and collecting post-closing documents, and servicing the loan.
Loan Servicing is responsible for all aspects of residential mortgage and consumer loans after origination, including moving the documents to secure storage in the core system, monitoring and collecting post-closing documents, and servicing the loan.
Duties and Responsibilities:
- Perform loan maintenance and make additional notations within core system
- Prepare loan files for imaging & index loan those files to doc storage
- Manage and complete payoffs on core system.
- Prepare and electronically record all loan satisfactions
- Review final title policies and recorded mortgages and index to doc storage
- Conduct payment reversals to correct errors and track for front line training
- Cancel internal/ACH payments on paid off loans, as needed
- Scan & index maintenance that is done in core system
- Manage daily loan maintenance reports & process/scan completed maintenance
- Update customer information in core system, as needed
- Process construction loan draw requests
- Monitor Escrow accounts and complete Annual Escrow Analysis
- Monitor ARM Accounts and prepare and send Annual ARM Adjustment notices
- Handle MGIC premiums and other escrow account payouts
- Monitor loans for evidence of current hazard and flood insurance coverage
- Obtain force placed insurance coverage when required
- Book loan modifications
- Assist with various loan report requests
- Prepare & submit required reporting for secondary market investor loans
- Ensure secondary market loans are maintained following all investor requirements
- Perform other duties as required to fulfill the responsibilities of the position
- Follow & ensure compliance with not only Bank policies and procedures, but also all applicable federal and state banking regulatory agency policies
- Comply with bank standards for attendance and hours of work.
Qualifications:
Education/Experience:
Minimum two-year degree in business related field or equivalent work experience. Two/three years of bank loan processing or title experience preferred. Previous financial institution customer service experience preferred.
Minimum two-year degree in business related field or equivalent work experience. Two/three years of bank loan processing or title experience preferred. Previous financial institution customer service experience preferred.
Skills and Abilities:
- Adaptability: Able to adjust quickly to different work situations; remain composed under pressure and in stressful situations.
- Attention to Detail: Regard for important details to assure accuracy in every transaction performed; detect errors; follow through on corrections and details.
- Change Management: Must embrace change and see change as opportunity. Must be willing to express and support management's ideas to affected staff.
- Customer Orientation: Respond sensitively to the needs and priorities of the customer; recognize and take appropriate action to meet their needs; establish an effective working relationship with customers to gain their respect and loyalty.
- Oral/Written Communication: The ability to express thoughts and ideas in a clear and concise manner, both orally and in written form to a variety of audiences and to all levels of staff.
- Professionalism: Project a positive image of the bank to all internal and external customers.
- Time Management: Ability to effectively manage one’s time to complete work according to established deadlines. The ability to prioritize tasks to make the best use of time for high priority tasks.
- Team Player: Must view oneself as part of an overall team. This includes supporting others throughout the entire bank to achieve the overall goals of the bank.
