Loan Operations Specialist I
About The Position
Position Overview: The Loan Operations Specialist I will assist in all functions of consumer loan operations. This role will serve as an expert in payoff processing, title processing, GAP/Warranty claims and insurance tracking, and account verification. This role will also provide the highest level of service to members needing to perform maintenance on their loans. What You Will Do: Resolve assigned tickets meeting Service Level Agreements Process total loss claims, Skip a Pay on eligible retail products, and EFT payments Answer inquiries and verify data with third-party insurance providers and provide proper documentation through appropriate channels Execute payment reversals and receivable corrections on all loan products Process retail and mortgage loan payoffs, product cancellations, and maintenance Complete and provide members with Adverse Actions Complete Serviceman Civil Relief Act (SCRA) requests, maintenance, and compliance Responsible for sorting incoming mail to the proper department Generate loan-specific reports from core system as requested by management Complete loan file document maintenance and clean up Check-in both paper and electronic titles Complete UCC/title releases after payoff to adhere to policy and procedure standards Administer rate maintenance on loans and products Submission of new memberships to the Illinois Consumer Council
Requirements
- High School Diploma or General Education Degree required
- Minimum 2 years' experience processing car titles
- Basic knowledge of core banking systems, phone and ticketing systems, and loan servicing systems to complete tasks
- Basic knowledge of loan servicing compliance requirements
Nice To Haves
- Six months experience working at a financial institution is preferred
Responsibilities
- Resolve assigned tickets meeting Service Level Agreements
- Process total loss claims, Skip a Pay on eligible retail products, and EFT payments
- Answer inquiries and verify data with third-party insurance providers and provide proper documentation through appropriate channels
- Execute payment reversals and receivable corrections on all loan products
- Process retail and mortgage loan payoffs, product cancellations, and maintenance
- Complete and provide members with Adverse Actions
- Complete Serviceman Civil Relief Act (SCRA) requests, maintenance, and compliance
- Responsible for sorting incoming mail to the proper department
- Generate loan-specific reports from core system as requested by management
- Complete loan file document maintenance and clean up
- Check-in both paper and electronic titles
- Complete UCC/title releases after payoff to adhere to policy and procedure standards
- Administer rate maintenance on loans and products
- Submission of new memberships to the Illinois Consumer Council
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
Number of Employees
251-500 employees
