Sr. Loan Servicing Specialist (Mortgage/Consumer Loan Servicing)

Salem Five Bank•Salem, MA

3h•$53,000 - $75,000•Onsite

About The Position

Salem Five is a growing regional financial services organization with a history of over 170 years. This role is based in the Salem, Massachusetts office and supports residential mortgage and consumer loan servicing. The specialist responds to customer inquiries, carries out servicing activities, supports regulatory compliance, monitors work and service tickets, maintains account and loan records, and assists management with controls, audits, procedures, and operational improvements. The role also monitors consumer loan servicing and oversees payoff processing and discharges to ensure accuracy and timely completion.

Requirements

Associate's degree or equivalent from a two-year college or technical school, or an equivalent combination of education and experience.
At least three years in a client-focused business environment, or equivalent combination of education and experience.
Demonstrated capability and familiarity with Microsoft products, including Excel and Word.

Nice To Haves

Prior clerical or administrative support experience.

Responsibilities

Respond to customer inquiries and requests received through the internal ticketing system, contact center, and retail branches; research issues and follow up with customers.
Perform residential and consumer loan servicing, including quality control of new installment and residential mortgage loans; process payments and advances; issue statements and notices; maintain interest rates; update customer, account, transaction, and official loan records; and respond to customer requests.
Assist with escalated customer issues, complaint and legal department coordination, notice-of-error and information requests, mortgage payoffs, loan modifications, insurance loss drafts, and requests involving partial releases, trust transfers, easements, eminent-domain takings, subordinations, and master deed amendments according to secondary market guidelines.
Perform first-level accounting reconciliations and assist management with audit responsibilities.
Ensure departmental compliance with CFPB, Dodd-Frank, Regulation Z, RESPA, GLBA, investor guidelines, and department policies and procedures.
Monitor designated consumer and residential loan operations personnel to ensure timely completion of work, and provide backup coverage during absences or vacancies.
Monitor JIRA Help Desk tickets to ensure they are completed accurately and within expected time frames.
Audit system maintenance performed on accounts to ensure data integrity.
Assist with and participate in the annual Business Continuity Plan.
Assist management in maintaining procedures for residential and consumer servicing in compliance with applicable regulations and laws.
Analyze processes to identify operational efficiency improvements using technology and automation.
Help implement controls and written operating procedures for daily, monthly, quarterly, and yearly loan servicing tasks, ensuring accurate and timely execution, data quality, and compliance.
Closely supervise servicing of consumer loans, including overdraft, HELOC, and student loans, to ensure accurate documentation and system setup and compliance.
Oversee payoff desk processing and discharges to ensure accuracy and timely completion.