Loan Servicing is responsible for all aspects of residential mortgage loans after origination, including moving the documents to secure storage in the core system, monitoring and collecting post-closing documents, and servicing the loan. This position is also responsible for assisting the Collection Manager with various tasks as needed to complete assignments.
Duties and Responsibilities
- Make any additional notations within core system, if needed
- Prepare file for imaging, indexing documents in imaging system.
- Manage and complete payoffs on core system, prepare all loan satisfactions.
- Check daily loan payments on core system to ensure correct, conduct payment reversals to overpaid customers.
- Cancel internal/ACH on paid off loans, as needed
- Process maintenance file, scan completed file maintenance, and check daily loan file maintenance report.
- Update customer information in core system, as needed
- Monitor construction loans.
- Monitor Escrow accounts and complete Annual Escrow Analysis
- Monitor ARM Accounts and prepare and send Annual ARM Adjustment notices
- Assist with various loan report requests
- Set-up and maintain Insurance and Tax Escrows along with annual statements
- Pay delinquent taxes and insurance billings for escrowed accounts
- Enter GL entries for Real Estate in Judgement, Other Real Estate Owned, and non-accrual loans
- Provide instructions for loan payments
- Mortgage Guaranty Insurance Company (MGIC) Delinquency Reporting
- Prepare delinquency reports (monthly and quarterly)
- Monitor, obtain, renew, and cancel lender placed hazard and flood insurance
- Monitor payment history and assist with tracking repayment data on past due loan accounts
- Customer contact with 30 day delinquent accounts (letters, phone calls, in person meetings)
- Prepare initial foreclosure documentation (Notice of Default)
- Forward loan documentation to attorney to initiate foreclosure
- Perform other duties as required to fulfill the responsibilities of the position.
- Follow procedures and policies that ensure compliance with not only Bank policies and procedures, but also all applicable federal and state banking regulatory agency policies.
- Comply with bank standards for attendance and hours of work.
Minimum two year degree in business related field. Two/three years of bank loan processing or title experience preferred. Previous financial institution customer service experience preferred.
Skills and Abilities:
- Able to adjust quickly to different work situations; remain composed under pressure and in stressful situations.
Attention to Detail:
- Regard for important details to assure accuracy in every transaction performed; detect errors; follow through on corrections and details.
- Must embrace change and see change as opportunity. Must be willing to express and support management's ideas to affected staff.
- The ability to express thoughts and ideas in a clear and concise manner, both orally and in written form to a variety of audiences and to all levels of staff.
- Project a positive image of the bank to all internal and external customers.
- Ability to effectively manage one’s time to complete work according to established deadlines. The ability to prioritize tasks to make the best use of time for high priority tasks.
- Must view oneself as part of an overall team. This includes supporting others throughout the entire bank to achieve the overall goals of the bank.
We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.
Time Federal Savings Bank
When you think of Time Federal Savings Bank, we hope you also think about the communities we serve. The individuals, families and businesses we’ve helped over the decades are what inspire us to provide the best service every day. While there have been many advances in banking products and technology since we opened our doors in 1934, one thing will never change: our commitment to doing our best for you.
Company Website: www.timefederalsavings.com
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