Loan Servicing Representative

Police & Fire Federal Credit Union • Bensalem Township, PA

5d • Onsite

About The Position

To provide quality service to members in a timely manner. Work constructively within the Department and with other Departments to achieve the common goals of the Credit Union.

Requirements

• Computer literacy in Microsoft products, Excel and Word.
• Organization
• Thoroughness
• Ability to work independently
• Ability to work as a team
• Requires physical ability to access files in TAB file system and when necessary to lift boxes containing files.

Responsibilities

• Work with Equity and First Mortgage Closing to track loans pending disbursement to assure loans are funded as scheduled by Closing.
• Review all folders (home equity Loans/lines, 1st mortgages) prior to funding for accuracy of dates, disbursements to CU accounts, payoffs for CU accounts, checks to creditors, escrows, etc.
• Final check of all loan disbursement screens to assure accuracy of loan data and disbursements and update as needed, at the time of funding.
• Complete final disbursement of loans and printing of related checks according to rescission and settlement requirements.
• Assure the mailing of all mortgage payoff checks via UPS, and creditors' checks on the day of funding.
• Prepare all Home Equity Loan/Line files assuring all copies of payoffs are attached in file and escrow information, mortgage, note and other loan docs are in order.
• Assure the timely return of disbursed First Mortgage files to Servicing by the 1st mortgage closing department and forwarding of all files to Post-Closing.
• Cross train and act as back-up for the post-closing function including setting up of escrows and transferring of funds from paid escrow accounts.
• Assist in other areas of mortgage servicing including preparation/mailing of Pay-off requests, labeling of loan files, Paid Loan processing, etc., as needed.
• Assure the processing all hazard insurance mail in a timely manner daily.
• Review member records to determine escrow status of renewals / cancellations taking steps required to assure proper payment and coverage.
• Follow-up on canceled/terminated polices in accordance with Credit Union procedures to assure collateral protection.
• Establish and maintain all Homeowner Insurance Bill Payer records, disbursements and any necessary adjustments.
• Assure all insurance related notices are completed and mailed in a timely manner.
• Establish and maintain Force Placed Insurance Coverage according to Credit Union procedures.
• Complete the Mortgage Loan Import process on a daily basis to ensure the proper booking to the member’s Aftech loan record.
• Complete all financial transactions associated with the mortgage loan import and disbursement of loan proceeds.
• Process all financial transactions associated with the receipt of first mortgage settlement packages and accompanying loan proceeds.
• Identify loans for selection and prepare and submit loan documentation to 3rd party Quality Control Company as requested.
• Process billings received from various PMI vendors and complete system maintenance to Aftech billpayer escrow records to ensure proper coverage and payment of same.
• Process PMI cancellations and address any PMI related discrepancies and maintenance issues thru the use of on-line servicing access provided by many of the vendors.
• Assist in resolution of servicing related items including servicing system loan setups, member phone inquiries, payoff requests/postings, etc.
• Complete the Paid Loan Review and mortgage satisfaction preparation process to assure the timely, accurate accounting and removal of all paid mortgages.
• Assure proper satisfaction of mortgages by facilitating and tracking the delivery and receipt of mortgage documents to and from the appropriate County recorder's office.
• Assure that paid notes and satisfied mortgages are forwarded to members upon payment in full and satisfaction.
• Assure the proper filing and maintenance of mortgage files and recorded mortgages and tracking of “Out” files.
• Investigate and resolve disputes involving mortgage satisfactions, prepare Release/Discharge of Mortgages as needed and forward to proper Recorder’s Office for processing.
• Ability to answer incoming calls from members and assist with account transactions and inquiries via telephone.
• Ability to use a personal computer; entering information via keyboard and accessing information from a computer screen.
• Perform other assignments as requested.
• Overtime is required depending upon loan volume, etc.

Benefits

• EXCELLENT MEDICAL, DENTAL, VISION BENEFITS: 75% to 90% of premiums covered by PFFCU
• 401K – PFFCU contributes automatic 6% regardless of employee contribution after 1 year
• paid time off

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed