Senior Consumer Loan Servicing Specialist

GENERAL SUMMARY

Under the general direction of the Department Manager, following established Bank policies and procedures and industry regulations, performs duties related to the servicing of the Bank's consumer loan portfolio. The essential functions are described below.

ESSENTIAL FUNCTIONS

• Completes all job duties pertaining to servicing loans sold to Freddie Mac including, but not limited to, daily and monthly remittance of payments, status updates in Freddie system, and reconciliation of bank accounts
• Assigns new loan boarding files and monitors for booking completion
• Reviews Error and System Maintenance reports and corrects errors
• Resolves servicing concerns or issues by determining the cause of the problem, selecting and explaining the best solution to solve the concern, expediting the correction or adjustment, and follows up to ensure resolution
• Performs callback of assigned new loans booked and daily transactions
• Responds to inquiries from both internal and external customers via mail or through the Call Center by professionally answering borrower's questions and concerns regarding the servicing of their mortgage loans to include: billing statements, escrow questions (tax, insurance, escrow analysis), misapplied payments and other servicing functions while maintaining the confidentiality of member information
• Ensures all member issues and complaints are resolved in a timely manner including escalating the complaint to management
• Oversees requests from borrowers are processed in a timely and accurate manner by assigned staff. For example, third parties and internal staff for payment histories, amortization schedules, duplicate 1098 statements, payoffs, verification of mortgage, documentation requests, setup-change-cancellation of autopayment, etc.
• Books the purchased loans and balances to GL entries required for the purchase
• Assists other processors periodically to process payment and payoff funds, return items, review and clear non-posted Lockbox payments, review and clear system posting rejects and unapplied funds, and clear Loan WIP account of loan payments
• May be asked to coach, mentor, or train other staff
  

QUALIFICATIONS

Education:

• High school graduate or equivalent. Education or experience should include courses in accounting, finance and/or bookkeeping.

Experience:

• 5 years in Loan Servicing and a thorough understanding of consumer loan servicing products and Freddie Mac Investor reporting required.
• Strong knowledge of state and federal banking regulations and procedures with regulatory requirements including but not limited to CFPB, FCRA, HMDA, RESPA, Reg Z, SCRA, TILA, and UDAAP.

Skills/Ability:

• Self-motivated with ability to work independently and able to prioritize and meet deadlines
• Proven ability to think independently and use sound judgment
• Strong problem-solving and analytical skills.
• Strong organizational skills, can manage time and priorities, and adhere to deadlines
• Able to accept responsibility for and handle confidential information.
• Excellent follow-through skills
• Strong written and verbal communication skills, with ability to express self clearly and effectively in writing as well as on the telephone
• Strong knowledge of basic accounting
• Working knowledge of MS Windows, PC spreadsheets and PC word processing. Familiarity with networked computer systems, mainframe, and IBS loan system a plus
• Ability to work in a fast pace environment while maintaining a high level of accuracy
• Bilingual (Mandarin or Cantonese) is a plus.

OTHER DETAILS

$28.84 - $36.05 / hour
Pay determined based on job-related knowledge, skills, experience, and location.