Credit Services Representative I - Loan Payoff

First Commonwealth Bank•Indiana, PA

45d

About The Position

Protect the bank's assets by ensuring the integrity of all collateral and loan files. Process daily paid loan files for consumer and commercial loans as assigned. Prepare payoff quotes and payoff letter requests. Perform payoff processing for incoming 3rd party payoff remittance checks, wires, rejected and/or un-posted payoff transactions that require special handling to post correctly to the system. Provide phone support concerning problems and questions related to loan processing. High School Diploma or equivalent required. High School Diploma or equivalent required. Minimum of two (2) years related work experience preferred.

Requirements

High School Diploma or equivalent required.
Excellent verbal and written communication skills, exceptional relationship-building skills, strong analytical and mathematical skills, and a motivation to learn and contribute to continuous improvements are required.
Proficiency in MS Word and Excel is required.
Ability to work closely with team members to ensure daily work is completed.
Ability to access filing cabinets and transport bulky files.

Nice To Haves

Minimum of two (2) years related work experience preferred.

Responsibilities

Process 3rd party payoffs that come into the department via checks, wires, electronic payments, etc. utilizing the SilverLake loan system.
Provide payoff quotes both verbal and written as requested by internal parties as well as external clients and third parties using SilverLake system and fee schedule.
Assess prepayment penalty fees, early termination fees, lien release fees, and other fees associated with the payoff of loans.
Coordinates necessary internal documents needed for the process of wire transfers and checks to pay off all loan types, process refunds and refund letters to clients.
Process release of collateral as approved by loan modification requests.
Process release of collateral for paid off loans in a timely manner, including but not limited to: life insurance, stocks, real estate, UCCs and vehicles.
Maintain/update a log of service events and email requests assigned to group.
Process maintenance related service events and email requests, including but not limited to: payment reversals, backdated payoffs, payoff quotes, and waivers.
Maintain various daily, weekly and monthly reports to update customer records concerning: (i) collateral, (ii) insurance, (iii) refinances and (iv) unposted items.
Work the Unposted Report daily as provided by Payment Processing in order to rectify items that were not posted correctly to the loans on the previous day by external parties.
Research to the extent necessary to verify loan account information.
Report corrective actions taken.
Work the Refinance Report daily as provided in order to research any collateral tracking for loans in which payoffs were processed by a branch.
Loans reflective of a status indicative of being refinanced with FCB to be updated to a closed status.
Coordinates with Account Officer or Financial Solutions Center to ensure accuracy of payoff amount and rectifies errors.
Work HELOC Close and Satisfy Report daily to review expiring Home Equity Lines of Credit.
Updates account statuses as appropriate.
Coordinates the processing of notifications to clients as applicable.
Work the Zero Balance with Escrow Report daily to research any remaining escrow balances on loans that have a zero principal balance.
Clear/refund escrow as research indicates applicable.
Collect dealership title releases in order to release titles to dealerships within one business day.
Prepare paid loan files for scanning.
Prepare Paid in Full Letters and refunds for clients.
Research dated or converted mortgages to determine if mortgage(s) should be satisfied.
Report MERS Mortgage payoff information to Supervisor.
Perform maintenance to cancel Private Mortgage Insurance when applicable.
Communicate with clients, Financial Solutions Centers, Engagement Center, and third parties to ensure the risk management of each client relationship is in compliance with policy and procedure, as well as commercial and regulatory guidelines.
Prepare Lien Release Letters for clients as well as dealerships.
Provide exceptional customer service through written and verbal communications with customers and branch operations.
Assist in various projects, including but not limited to: mergers, additional assignments from outside of department, forbearances, bank system release and upgrade testing.