Loan Servicing Representative

Jeanne D Arc Credit Union•Lowell, MA

About The Position

As a Loan Servicing Representative, where under the direction of the Loan Servicing Officer, you will demonstrate a broad knowledge of loan products, collateral types, borrowing entities, and loan servicing activities and is able to perform various duties related to the ongoing servicing and maintenance of all loan products. Quality of the work produced, and level of productivity is within the acceptable range for the department and corresponds to the level of experience; adheres to established policies and procedures. Supports the Credit Unions’ Core Value and Ultimate Goal and the departments focus on service, quality, efficiency, and teamwork.

Requirements

Experience: One year of related experience is required.
Education: High school diploma or equivalent required or an equivalent combination of education and experience.
Interpersonal Skills: Position requires personal contact with others inside and outside the Credit Union, thus requiring a high degree of confidentiality, discretion, diplomacy, and tact in communication. Builds relationships and fosters positive interactions with Credit Union team members, members, and vendors by demonstrating friendly, helpful, and efficient service. Good written and verbal communication skills are required, including communicating clearly and concisely. Patience, active listening, and sound judgment are required. Must have the ability to understand and communicate products, services, and regulations.

Responsibilities

Assist with the timely perfection, renewal, and release of various collateral, including, but not limited to, titled vehicles, UCC-1 financing statements, mortgage security agreements, assignments of lease and rents. Maintain exception reports, VINTEK system, and Miser system for monitoring, record-keeping, and audit purposes.
Prepare discharges of real estate collateral on all real estate loans that have been paid in full so that our security interest in the property is released. Prepare subordination documentation in order to maintain our lien position in pledged collateral.
Process payments of flood insurance, vehicle insurance, real estate property insurance, and private mortgage insurance; work with third-party vendors to coordinate renewal, cancellation, and force placement of insurance; maintain flood insurance records to ensure compliance with the requirements of the Flood Disaster Protect in Act.
Perform new indirect auto loan activities, including the setup of new accounts on the miser system, review of required documentation for completeness, reconcile and process new loan funds, and submit dealer invoices for early payoff rebates.
Set up and maintain Miser loan data information in accordance with appropriate new loan modification, loan workout, renewal, or charge-off documentation; prepare necessary modification documentation in accordance with approved modification requirements.
Perform the review of new loans to ensure appropriate documentation has been obtained and that the loan has been correctly set up on the Miser system. Prepare files, screenprints, and preliminary checklists and assist with resolving exceptions.
Review internal file maintenance journals and various exception reports to ensure the appropriateness of transactions, that the corresponding supporting documentation has been obtained, and to identify and correct exceptions for data integrity purposes.
Coordinate payoff quotes at the request of members, attorneys, and other financial institutions; reconcile and process payoff funds upon receipt to ensure appropriate closure of the account.
Process a variety of loans transactions including payments, payoffs, advances, charge-offs, adjustments, corrections.
Respond to internal and external loan-related member questions & research.
Participate in department projects and in the development of department procedures.
Performs all other duties as assigned.