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Loan Servicing Operations Specialist
Bethesda, MD
Job Description
Job Summary:
The Loan Servicing Operations Specialist position is primarily responsible in maintaining appropriate levels of customer service and operational efficiency while meeting all regulatory requirements. Duties include review and interpretation of complex loan and legal documentation packages with emphasis on loan structure analysis (billing, rate structures, and payments) and comparison to credit approval documentation. Perform accurate set up and/or maintenance that includes booking, research, wire and/or payment processing, and related servicing events on the Fiserv DNA and related systems. Experience with general ledger and financial application of funds and capacity to work in a detailed, yet quick paced environment is critical for this role.
Major Duties and Responsibilities:
Presidential Bank, FSB is an equal opportunity/affirmative action employer. We consider applicants without regard to race, color, religion, creed, gender, national origin, age, disability, genetic information, marital or veteran status, or any other category protected by federal, state, or local law.
The Loan Servicing Operations Specialist position is primarily responsible in maintaining appropriate levels of customer service and operational efficiency while meeting all regulatory requirements. Duties include review and interpretation of complex loan and legal documentation packages with emphasis on loan structure analysis (billing, rate structures, and payments) and comparison to credit approval documentation. Perform accurate set up and/or maintenance that includes booking, research, wire and/or payment processing, and related servicing events on the Fiserv DNA and related systems. Experience with general ledger and financial application of funds and capacity to work in a detailed, yet quick paced environment is critical for this role.
Major Duties and Responsibilities:
- Provide assistance on loan servicing inquiries regarding payment inquiries, transaction research, error resolution and general loan account questions.
- Review daily loan reports and distribute as needed.
- Conducts daily monitoring of loan maintenance reports.
- Process payment transactions in servicing database.
- Post close and audit all 1st mortgage, commercial, consumer loans and prepare files for scanning
- Process and review loan modifications and renewals.
- Tracks and post close loans on the tax service, flood certifications, and delinquent tax report.
- Pay all hazard insurance bills and review cancellation notifications.
- Maintain force placed hazard policies, condo insurance, flood insurance and any other insurance policies.
- Performs review and research for analysis of escrow; annually reviews interest on escrow.
- Responsible for ARM/payment change notice(s) and review, as well as system adjustments for modifications, extensions, and conversions.
- Responsible for the processing of loan participations, remittance and reporting.
- Responsible for processing PMI and FHA MIP.
- Maintain and demonstrate proficiency with loan software applications. Work with system providers to utilize applications to fullest capacity, streamlining processes and procedures.
- Analyze, prepare and train for periodic updates to system software and verify enhancements are working correctly.
- Examine various operational challenges and apply appropriate solutions.
- Assist and develop procedures as needed and overall coordination of department workflow.
- Monitors and enforces compliance related policies, procedures, guidelines, and bank’s practices.
- Assist with procedure manual for Loan Servicing area.
- Able to work closely with loan officers and department managers to promote communication and to ensure quality service.
- Provide back up to department staff as requested.
- Other projects and/or duties as assigned.
- Position Requirements:
- In-depth knowledge of all mortgage products and services, policies, and procedures and related regulations including reporting and Audit requirements.
- Minimum of 5 years of prior administrative assistance experience.
- Prior banking experience required; commercial administration or documentation experience preferred.
- Demonstrated ability to make complex decisions regarding a variety of financial activities.
- Detailed oriented, high degree of accuracy.
- Ability to perform multiple duties and meet deadlines.
- Demonstrated leadership skills with ability to deal effectively with external corporate executives and senior management.
- Advanced accounting skills necessary to perform complex reporting and financial analysis functions.
- Moderate computer skills including word processing and spreadsheet applications.
- Strong organizational, interpersonal, management, communication (both written and oral), analytical and problem-solving skills.
- This level of knowledge is normally acquired through completion of an undergraduate degree in a business-related discipline and 4 years in mortgage lending, or an equivalent in experience (8 years).
Physical Demands and Work Environment:
The physical demands and work environment characteristics described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions. - While performing the duties of this job, the ability to stand and/or sit for long periods of time is regularly required. Ability to talk, listen and see. The associate must occasionally reach with hands and arms; stoop, kneel, or crouch
- The associate must occasionally lift and/or move up to 25 pounds, may also include lifting overhead
- Ability to accurately interpret sounds and associated meanings at a volume consistent with interpersonal conversation
- Regularly required to accurately perceive, distinguish and interpret information received visually and through audio; e.g., words, numbers and other data broadcasted aloud/viewed on a screen, as well as print and other media
- Moderate sound as in business office with office machines, computers, and people traffic
Presidential Bank, FSB is an equal opportunity/affirmative action employer. We consider applicants without regard to race, color, religion, creed, gender, national origin, age, disability, genetic information, marital or veteran status, or any other category protected by federal, state, or local law.
Job Summary
Company
Employment Term and Type
Regular, Full Time
Hours per Week
40
Work Hours (i.e. shift)
9-5
Required Education
Bachelor's Degree
Required Experience
5 years
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