Loan Administration Specialist

Magyar Bank•New Brunswick, NJ

4d•$50,600 - $66,900

About The Position

Magyar Bank is seeking a Loan Administration Specialist to join its Loan Administration team in the Central New Jersey area. The position handles loan-document recording, insurance tracking, loan servicing, and related clerical work. The specialist also responds to customer service issues, resolves disputes within 30 days, maintains compliance while performing job functions, and cross-trains with other Loan Administration Representative roles.

Requirements

High school diploma or equivalent required.
At least 2 years of experience in loan servicing.
Strong customer service skills.
Detail-oriented.
Excellent verbal and written communication skills.
Ability to multitask in a fast-paced environment.
Computer literacy, including MS Office Suite and loan tracking systems.
Ability to work independently.

Nice To Haves

Some college preferred.

Responsibilities

Submit collateral documents—including modifications, cancellations, and discharges—for recording and maintain a tracking spreadsheet.
Run weekly and monthly reports, including reports on mortgage cancellations and closed loans.
Process overpayments from paid-off loans and clear suspense items.
Track insurance on commercial loans.
Follow up on residential insurance coverage after receiving cancellation notices from insurance carriers or borrowers, and force-place insurance when necessary.
Notify insurance carriers or agents when loans are paid off and ask them to remove Magyar Bank as mortgagee.
Force-place flood and hazard insurance when necessary.
Track flood insurance and pay premiums.
Prepare and mail annual homeowner insurance and private mortgage insurance notifications.
Pay monthly private mortgage insurance.
Verify the accuracy of weekly rate changes in the core system.
Assist customers by telephone or in person with service issues on their accounts and follow through until the issues are resolved.
Resolve disputes within a 30-day timeframe.
Maintain compliance while performing all job functions.
Perform other duties as assigned by the supervisor.
Cross-train with other Loan Administration Representative roles.