Residential Real Estate & Commercial Loan Servicer

SCU Credit Union•Brockton, MA

50d•$25 - $30

About The Position

SCU Credit Union, an Equal Opportunity Employer, with offices in Sharon, Mansfield, East Walpole, North Attleboro, Brockton, Taunton, and Foxboro. Our mission is to provide a full range of financial services to our members at competitive rates while emphasizing financial soundness, convenience and efficient friendly service. At the same time, we maintain a challenging, rewarding and enriching environment for all employees. The vision of SCU Credit Union is to enhance the economic well being of our members, to nurture long-term relationships and to continue our deep commitment to community service and involvement. SUMMARY: 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. General Job functions: 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. Disclaimer: The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities, and activities may change, or new ones may be assigned at any time with or without notice.

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.