Residential & Commercial Loan Servicer

SCU Credit Union•Brockton, MA

2d•$25 - $30•Onsite

About The Position

SCU Credit Union is seeking a Residential & Commercial Loan Servicer to perform all loan servicing functions associated with residential mortgage loan products and commercial loan products. This role involves reviewing documentation, ensuring accuracy and consistency of transactions, and verifying that all conditions are satisfied. The Loan Servicer will work with attorneys, branch personnel, and outside vendors to obtain missing or incomplete documentation, organize and set up loan files (both electronic and paper), and prepare loan payoffs. Responsibilities include processing payoffs, cancellations of mortgage loan Notes, and maintaining aspects of obtaining and releasing mortgages, such as Discharges and Letters to borrowers. The position also involves reconciling and maintaining General Ledger accounts and assisting in all Loan Servicing department functions as directed by the Supervisor. For commercial loans, the role emphasizes day-to-day servicing, loan/file maintenance, and compliance, with direct interaction with clients, inter-departmental collaboration, and third-party vendor discussions. The Loan Servicer must possess a clear understanding of all regulations touching Mortgage and Commercial Loan Servicing materials, assist in training and coaching staff, manage audit preparation, and adhere to Credit Union policies regarding BSA, USA Patriot Act, and OFAC. Continuous review of Credit Union policy and servicing procedures, and maintaining knowledge of state and federal laws pertaining to servicing are also key aspects of this role.

Requirements

Thorough understanding of business documentation and the commercial lending process.
Ability to interact as liaison between vendors, regulators, attorneys, other departments, and borrowers.
Excellent written and verbal communication skills.
Proficient with Microsoft Office.
Must be technically savvy and able to manage computer systems, scanners, copiers, and related software in a financial environment.
Must have exceptional organizational skills, can prioritize and be detail oriented.
Ability to organize projects, set priorities, meet project schedules, and work independently is essential.
Ability to work independently and in a team environment.
High school diploma or equivalent.
Two to Five years’ experience with commercial documentation, loan servicing and file maintenance.

Nice To Haves

Bachelor’s Degree in finance/business preferred.
Experience in a credit union, banking or financial business environment preferred.

Responsibilities

Performs all loan servicing functions associated with residential mortgage loan products.
Reviews documentation after each first or second mortgage loan closing to ensure the accuracy and consistency of all transactions.
Verifies that all conditions are satisfied.
Works with attorneys, branch personnel and outside vendors in obtaining missing or incomplete documentation.
Organization and set-up of loan files, both electronic and paper.
Works with attorneys and other lending institutions in the preparation of loan payoffs.
Processes payoffs and cancellations of mortgage loan Notes.
Maintains all aspects of obtaining and releasing of mortgages, including Discharges, Letters to borrowers, cancellation of Life of Loan Flood, and various tracking.
Reconciles and maintains various General Ledger accounts.
Assists in all Loan Servicing department functions as directed by Supervisor.
Performs all loan servicing functions associated with commercial loan products.
Assist the commercial loan department by providing ongoing loan servicing on a day-to-day basis of the commercial loan portfolio with emphasis on loan/file maintenance and compliance.
Direct interaction with existing loan portfolio clients, inter-departmental product / workflow, as well as third party vendor discussion and assigned project management activities.
Possess a clear understanding and keep abreast of all regulations that touch Mortgage and Commercial Loan Servicing materials.
Assists in the training and coaching of additional Loan Servicing staff, as requested by Supervisor.
Manage the preparation of materials required for internal and external audit reviews directly related to commercial loan servicing, or mortgage loan servicing.
Follow all procedures pertaining to the Credit Union’s policies of BSA, USA Patriot Act, and OFAC.
Attend trainings when available and to keep abreast of all information regarding changes and updates.
Continuance review of Credit Union policy and servicing procedures.
Assist in discussions regarding any changes of processes.
Maintain knowledge of state and federal laws and practices pertaining to servicing, such as PMI, Escrow analysis, etc.