Loan Servicing Specialist

MERIWEST CREDIT UNION•San Jose, CA

16h•Onsite

About The Position

Provides administrative and clerical support to Lending and Member Services in support of servicing all consumer loans. Responsible for processing mailed in payments by check, completeness of loan documentation after loan funded, DMV processing for perfection of collateral, performs all loan maintenance which includes proper lien removal for all loan collateral, ensuring all loan collateral is protected, and respond to inquiries from members regarding any matters relating to the maintenance of a loan. Provides efficient, professional, friendly, quality service plus and expertise to credit union members, coworkers, dealers and vendors.

Requirements

High School or Equivalent Required.
Three years to five years of similar or related experience.
A significant level of trust, credibility and diplomacy is required. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance.
This position requires 100% on-site presence in San Jose, CA. Due to the nature of the responsibilities, remote work—including hybrid schedules—is not supported. Candidates must be able to reliably commute or relocate to the work location.

Responsibilities

Manage perfecting of collateral by preparing the necessary paperwork to the DMV (Department of Motor Vehicle). Follows up with appropriate parties (dealers, other financial institution, members, or other departments) to ensure completion of title transfer.
Ensure the completeness of Real Estate loans by monitoring all recorded documents are received. Follows up with appropriate title company for procurement of missing recorded documentation. Update necessary information in processing system, upload copy to imaging system, and file original recorded documentation in fireproof cabinet.
Process all mailed in payments by check to loan accounts with very high degree of accuracy, posted in a timely fashion, and/or effective dated to the date the funds were received by Meriwest.
Prepare payoff demand letter requests to provide payoff information in written form for both Real Estate loans and Vehicle loans.
Ensure all loan payoffs of Real Estate loans and Vehicle loans are processed according to established procedures which includes proper lien removal on a timely manner.
Ensure vehicle monitoring services (perfecting, releasing, potential fraudulent releases, rejected title releases, etc…) are processed in a timely fashion and that monthly CORE to vendor system reconciliations occur.
Ensure all real estate loan monitoring services (flood zone map changes, real estate property taxes, etc…) are cancelled in a timely fashion upon loan payoff and that bi-annual CORE to vendor system reconciliations occur.
Ensure all loan collateral is protected and lender placed policies are added and removed as needed and in compliance with state and federal statutes.
Ensure all Lending daily, weekly, monthly, and random reports produced are reviewed and processed to completion in a timely fashion.
Responsible for reconciliation of various GLS such as GAP, MRC, CUNA, and SNC.
Responsible for closing out unused open-end LOCs as directed and notifying members via written communication.
Research, resolve, and respond to inquiries from members regarding proper insurance coverage, claims, real estate tax provisions, payment problems, lien removal for all loan collateral, proper vehicle titling and registering for members moving out of state, disputes on loan payments, payoffs, pay downs, rate and payment adjustments, loan add-ons, fees, bills and/or loan correspondence, or any other matters relating to the maintenance of a loan.
Prepares, monitors, and terminate or renews UCC fixture fillings as needed.
Establishes, maintains, and cancels escrow accounts for Real Estate loans as needed.
Proficient in all Lending Servicing job functions and responsibilities.
Perform other duties as assigned.
Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.