Loan Operations Specialist

Greenwood Credit Union•Warwick, RI

2d•Onsite

About The Position

Responsible for performing a broad range of loan servicing functions, including loan onboarding, payoffs, ongoing loan maintenance, investor reporting, participation accounting, Fannie Mae processing escrow account management and all title-related tasks. This role requires a strong understanding of the end-to-end loan lifecycle to ensure accuracy, compliance, operational efficiency and service quality. This position supports cross-functional proficiency, operational flexibility, and effective coordination across related areas. The essential functions of this position ensure a wide range of support to the Loan Operations department as its primary focus while title administration duties are performed as a secondary responsibility. Tasks may include, but are not limited to: Perform loan onboarding and process payments and payoffs, disbursements, payment corrections, due date changes, and other maintenance tasks within the Credit Union’s core system. Support escrow administration, including tracking, maintaining, and ensuring timely payment of homeowner’s flood, and private mortgage insurance, as well as real estate taxes for all escrowed and non-escrowed residential mortgage and home equity loans, while also completing, interpreting, and effectively communicating periodic escrow analyses to members with questions or concerns Manage the servicing of loan and investor participation accounts, including processing transactions, performing daily remittance, and completing monthly investor reporting for the Fannie Mae mortgage investor program and other portfolios, ensuring accurate tracking, and remittance to participants and investors. Provide support in all title administration responsibilities by monitoring the receipt, recording, and release of vehicle and mobile home titles and other lien filings, which will include daily interaction with members, dealers and insurance companies as applicable. Share responsibility for handling title-related inquiries from members, dealers, and insurance companies, working closely with other team members to ensure consistent and compliant service. Research and assist in resolving processing errors on uncollected titles through all forms of communication with dealers, motor vehicle agencies, and others as needed. Prepare and process applicable lien releases for consumer and mortgage loans upon satisfaction of debt, ensuring accuracy, timely execution and compliance with regulatory agencies. Administer GAP refund processing on early loan payoffs, including communicating with dealerships and GAP providers, calculating refund amounts, and ensuring timely disbursement of refunds to borrowers. Effectively research and resolve routine and complex member inquiries primarily on loan accounts as well as other general account information by using all methods of correspondence. Responsible for the recording and tracking of Uniform Commercial Code (UCC) filings related to non-titled collateral such as vehicles and manufactured homes as well as real estate fixture filings when applicable. Prepare and distribute periodic reports by gathering, categorizing and summarizing data related to loan and title servicing. Process daily loan payment reversals as needed for payments made via ACH and third-party payment systems, ensuring proper corrections and maintaining accurate loan records. Perform periodic loan audit review on new and existing loan accounts ensuring compliance and quality control in all areas of Loan Operations. Perform various clerical functions and other duties as assigned; Participate in special assignments and projects as requested by management. Work in conjunction with other departments within the credit union to support each other’s needs and the needs of GCU members and prospective members. Additional Responsibilities: Contribute to the development and continuous improvement of departmental procedures. Assist in the training of new hires as needed as well as cross-train in other areas to provide backup support during high-volume periods or absences. Responsible for complying with the Credit Union’s information security policies, procedures and standards. This includes safeguarding member information, participating in required security awareness training, and reporting any suspected security incidents or vulnerabilities. Complete annual regulatory compliance testing as assigned per the terms of internal policy and other internal and offsite training as necessary. Demonstrate Greenwood Credit Union’s core values and uphold a professional and respectful work environment.

Requirements

High school diploma or equivalent; Associate degree in business, finance or accounting preferred
Minimum two (2) years of consumer and/or mortgage loan servicing experience preferred
Minimum two (2) years of experience in financial services industry and banking operations preferred
Working knowledge of mortgage and consumer loan terminology and regulations preferred
Fluent in English; Bilingual a plus
Thorough knowledge of laws and regulations governing credit union operations as applicable to position
Knowledge of and adherence to proper telephone and email etiquette
Accurate data entry and strong technical and mathematical skills
Demonstrated proficiency in basic computer applications, including Microsoft Office and internet navigation
Exceptional interpersonal, verbal and written communication and phone skills
Developed organizational and time management skills
Strong critical thinking, problem solving, and reasoning skills
Self-motivated and capable of working efficiently and with accuracy in a dynamic, high-volume environment with established productivity goals
Must be adaptable to various competing demands and meet deadlines in a fast-paced environment
Strong attention to detail with ability to audit, identify and correct procedural errors
Dependability and flexibility with work hours and work assignments
Ability to work a minimum of forty (40) hours per week and overtime, as needed
Commitment to team environment, member confidentiality and outstanding member service
High degree of professionalism with positive and professional image and demeanor
Consent to conduct pre and active employment background screenings

Responsibilities

Perform loan onboarding and process payments and payoffs, disbursements, payment corrections, due date changes, and other maintenance tasks within the Credit Union’s core system.
Support escrow administration, including tracking, maintaining, and ensuring timely payment of homeowner’s flood, and private mortgage insurance, as well as real estate taxes for all escrowed and non-escrowed residential mortgage and home equity loans, while also completing, interpreting, and effectively communicating periodic escrow analyses to members with questions or concerns
Manage the servicing of loan and investor participation accounts, including processing transactions, performing daily remittance, and completing monthly investor reporting for the Fannie Mae mortgage investor program and other portfolios, ensuring accurate tracking, and remittance to participants and investors.
Provide support in all title administration responsibilities by monitoring the receipt, recording, and release of vehicle and mobile home titles and other lien filings, which will include daily interaction with members, dealers and insurance companies as applicable.
Share responsibility for handling title-related inquiries from members, dealers, and insurance companies, working closely with other team members to ensure consistent and compliant service.
Research and assist in resolving processing errors on uncollected titles through all forms of communication with dealers, motor vehicle agencies, and others as needed.
Prepare and process applicable lien releases for consumer and mortgage loans upon satisfaction of debt, ensuring accuracy, timely execution and compliance with regulatory agencies.
Administer GAP refund processing on early loan payoffs, including communicating with dealerships and GAP providers, calculating refund amounts, and ensuring timely disbursement of refunds to borrowers.
Effectively research and resolve routine and complex member inquiries primarily on loan accounts as well as other general account information by using all methods of correspondence.
Responsible for the recording and tracking of Uniform Commercial Code (UCC) filings related to non-titled collateral such as vehicles and manufactured homes as well as real estate fixture filings when applicable.
Prepare and distribute periodic reports by gathering, categorizing and summarizing data related to loan and title servicing.
Process daily loan payment reversals as needed for payments made via ACH and third-party payment systems, ensuring proper corrections and maintaining accurate loan records.
Perform periodic loan audit review on new and existing loan accounts ensuring compliance and quality control in all areas of Loan Operations.
Perform various clerical functions and other duties as assigned; Participate in special assignments and projects as requested by management.
Work in conjunction with other departments within the credit union to support each other’s needs and the needs of GCU members and prospective members.
Contribute to the development and continuous improvement of departmental procedures.
Assist in the training of new hires as needed as well as cross-train in other areas to provide backup support during high-volume periods or absences.
Responsible for complying with the Credit Union’s information security policies, procedures and standards. This includes safeguarding member information, participating in required security awareness training, and reporting any suspected security incidents or vulnerabilities.
Complete annual regulatory compliance testing as assigned per the terms of internal policy and other internal and offsite training as necessary.
Demonstrate Greenwood Credit Union’s core values and uphold a professional and respectful work environment.