Loan Servicer

The Village Bank•Newton, MA

7h•$25 - $30

About The Position

The Loan Servicer I is responsible for supporting all aspects of the Bank's loan servicing operations for consumer, residential mortgage, and commercial lending products. This position performs critical post-closing, and ongoing servicing activities, including loan boarding, collateral administration, basic escrow knowledge, insurance tracking, payment processing, payoff processing, customer service, and regulatory compliance. The Loan Servicer I serves as a key resource for customers, branch personnel, and third-party service providers, ensuring timely resolution of servicing requests and maintaining accurate loan records. This position is also responsible for quality control reviews, account reconciliations, reporting, project support, and collaboration with core system vendors to ensure the integrity and efficiency of loan servicing operations. Through exceptional service and adherence to Bank policies and procedures, the Loan Servicing Specialist contributes to departmental goals and promotes a positive customer experience.

Requirements

High school diploma with one year or more years of banking experience, preferably in loan servicing.
Experience with the Bank’s core processing systems is a plus (Insight) or DNA and CoreLoigic, E-Oscar, Built, Carm Pro, Encompass, Miniter is a plus.
Strong knowledge of loan servicing practices and procedures.
Proficiency in Microsoft Office programs and bank proprietary applications specifically used in the loan servicing and the lending area.
Understanding of escrow administration, insurance tracking, collateral documentation, and loan maintenance processes.
Strong analytical and mathematical skills, including the ability to calculate interest, rates, percentages, escrow analyses, and payoff figures.
Excellent organizational skills and attention to detail.
Strong customer service, communication, and problem-solving abilities.
Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
Proficiency with Microsoft Office applications, including Word, Excel, and Outlook.

Nice To Haves

Experience with the Bank’s core processing systems is a plus (Insight) or DNA and CoreLoigic, E-Oscar, Built, Carm Pro, Encompass, Miniter is a plus.
Experience with core loan servicing system COCC preferred.

Responsibilities

Set up and board new commercial, residential, and consumer loans on the core processing system accurately and timely.
Process loan maintenance requests and ensure customer and account information remains current and accurate.
Process daily loan transactions.
Review and verify file maintenance changes.
Conduct disbursements on residential construction to perm.
Calculate loan payoff figures and prepare payoff letters and related correspondence.
Responsible for construction disbursements and managing projects in Built and COCC.
Requesting and receiving Title Run downs
Managing change orders in our system and coordinating with all parties internal and external.
Maintain and track collateral documentation for all loan types, ensuring records are properly secured and maintained.
Process automobile title transfers, maintain title files, and communicate with the Registry of Motor Vehicles regarding missing or incomplete documentation.
Prepare discharges, release collateral, return documents to customers, cancel notes, and process closed loan files in accordance with Bank procedures.
Maintain accurate loan servicing and collateral records throughout the life of the loan.
Monitor homeowners, flood, and automobile insurance coverage for collateralized loans.
Track insurance exceptions and communicate with borrowers, insurance carriers, and internal departments to ensure compliance with Bank requirements.
Provide exceptional customer service regarding loan accounts, payments, escrow accounts, insurance, collateral, and account maintenance.
Support branch personnel by providing guidance and assistance with loan servicing inquiries.
Respond to customer requests and resolve servicing issues accurately and efficiently.
Assist customers with credit reporting inquiries and dispute resolution matters.
Review exception loan bills and forwards onto to customers after verification and/or correction.
Oversee payment conversions on construction and equity loans, complete changes in core system and notify customers.
Respond to credit disputes submitted through credit reporting agencies in accordance with Fair Credit Reporting Act (FCRA) requirements.
Ensure loan servicing activities comply with Bank policies, investor requirements, and applicable federal and state regulations.
Maintain awareness of lending regulations and compliance requirements related to loan servicing.
Provide lending support services and administrative assistance as needed.
Participate in community outreach and Bank-sponsored initiatives.
Perform other duties as assigned.
Balance investor accounts and prepare reports regarding Secondary Market loans.
Provide input with core system processing vendor regarding problem resolution, loan processing, payment processing, account history and updating customer information.
Assist with the preparation of Management and Board Reports.
Monitor closing dates of pending loans and communicate with closing attorney as needed.