Senior Residential Loan Servicer
East Cambridge Savings Bank•Cambridge, MA
•Onsite
About The Position
East Cambridge Savings Bank’s Lending Division is actively recruiting for a Senior Residential Loan Servicer. Under the general direction of the Assistant Manager-Loan Servicing, this role performs a variety of administrative duties pertaining to the servicing of Residential and Consumer loans.
Requirements
- 3-5 years of loan servicing experience
- 3 years customer service experience
- Working knowledge of Microsoft Word and Excel
- Working knowledge of CORE processing system, COCC preferred
- Strong verbal and written communication skills
- Strong attention to detail, able to work independently, manage multiple priorities, and meet deadlines in a fast-paced environment
- Well-developed analytical, problem solving and organizational skills
- Must be willing to work additional hours as needed.
Responsibilities
- Responsible for ensuring the accurate set up of all new residential, Freddie Mac, and consumer loans on the core system.
- Reviews loan notes for accuracy and compliance with rate and general lending policy and guidelines.
- Reviews and monitors new loans on Loan Registers ensuring accuracy and making corrections as needed.
- Tracks and performs necessary maintenance on HELOC loans going into repayment.
- Sets up investor trailers on the core system and funds GSE loans.
- Balances funds received from investors for all purchased loans.
- Prepares and submits monthly loan reports to investors and Solar loans.
- Submits requests for interest subsidies and reconciles funds received.
- Contacts Banking Center personnel for missing or incorrect information and follows through to ensure information is received.
- Answers questions and provides guidance as needed.
- Manages the MERS system to assure that all new and paid off loans are being assigned/deleted as required.
- Prepares the monthly reconciliation on MERS.
- Assists customers and team members with inquiries resolving issues as needed.
- Works with senior management to handle escalated situations and provide problem resolution.
- Manages the PMI process from registration, monthly remittance, monitoring and cancellation.
- Processes general ledger entries on a monthly basis for all Purchased Loan payments received via wire.
- Reviews various general ledger accounts, researches, and clears outstanding entries.
- Responsible for the payment of several vendor invoices as assigned.
- Assists in processing all index changes on the core system on either a daily, weekly or monthly basis.
- Processes loan modifications and updates on the core system.
- Responsible for preparing Loan Servicing reports for the Executive Committee, as well as month end and quarter end reports.
- Ensures that data is accurate.
- Assists management with gathering information needed for audits and regulatory exams.
- Makes recommendations to management when needed in regards to the development and updating of procedures and department work methods.
- Maintains procedures manual, loan documents and forms.
- Assists management with communication and training of appropriate staff on updated or revised Lending products, policies and procedures.
- Keeps abreast of all loan servicing tasks and assists as necessary to maintain efficiency in loan servicing.
- Performs related lending tasks and special projects as may be required or assigned.
- Assists with functions related to the servicing of Commercial loans.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
No Education Listed
