Address
Form of workLoan Servicing Specialist
Department: Loan Operations Department
Reports: FVP, Director of Loan Operations
Position Summary:
The Loan Servicing Specialist is responsible for the servicing aspects of the commercial, consumer and residential loan portfolios. These loans include but are not limited to, commercial, C&I, SWAPS, micro-loans, syndication/participation, and real estate. Functions include thorough understanding of loan documents, system functionality and activities involving loan boarding, transaction and maintenance processing and quality control of same. The Loan Servicing Specialist works in collaboration with the servicing team and may be required to take reasonable actions necessary to carry out the assigned responsibilities of this position, provided that such action is assigned and is consistent with established procedures of Carver Federal Savings Bank. Key internal partners include the Lending, Portfolio Management, Audit, and Compliance departments.
Essential Duties and Responsibilities:
Loan Servicing
• Ensures loans are boarded to the loan system of record with a high level of accuracy within department service level agreements (SLA's).
• Responsible for all areas within Loan Servicing which includes, but not limited to, loan boarding and advances, reconciliation, billing, escrows and impounds, SBA reporting, loan documentation review and release, tickler reports, insurance, and property tax tracking, UCC filing, and other maintenance as required.
• Processes multifaceted loan transactions involving payments, advances, incoming and outgoing wires, payoffs, and insurance claims.
• Participates in servicing and settlement processes involving all types of loan purchase and sales.
• Assists in balancing and reconciling Loan Servicing general ledger and custodial accounts and research out of balance conditions; upload monthly reconciliation to ART for approval.
• Acts as single point of contact (SPOC) for the bank's third-party escrow and tax processing vendor relationship for real estate tax monitoring, escrow and force placed insurance, i.e., Lereta Tax & Flood Services and Lee and Mason Financial Services, Inc.
• Review booked loans for accuracy and assist with the internal/external audit requests.
• Monitor department to ensure deliverables meet SLAs; preventing workflow backlogs and ensuring all procedures are adhered to.
• Assists Loan Servicing team as needed in the daily review and sign-off of core reports required to monitor for potential issue resolution, clearing of non-posts, file maintenance, payments made the prior day, paid off loan and other servicing reports.
• Single point of contact (SPOC) for loan file and data collection, entry, and storage (the vault).
• Verify and scans new loan documents into Carver's document management system timely.
• Single point of contact (SPOC) for the collection and delivery of loan data and documents for loan sales, transfers, pay offs, etc.
• Works collaboratively with the FVP, Director of Loan Operations and AVP Loan Closing to ensure new loans are transitioned from loan origination to Loan Servicing.
• Monitors e-Oscar credit report dispute reports online.
• Assists with training new staff.
• Responds to customer inquiries.
Compliance, Quality Control and Other Duties
• Assist with all HMDA/CRA information and input to LaserPro for departmental compliance.
• Works with the appropriate departments to facilitate timely response to audit requests.
• Assist with work processes and procedures for cross-training and auditing purposes.
• Assists in the implantation of training of servicing related activities for new products and processes.
• Ensure compliance with Bank Secrecy Act, AML, OFAC and USA PATRIOT Act.
• Comply with all BSA training and procedures.
• Other duties as assigned.
Background and Experience:
• Four-year college degree or commensurate experience.
• Knowledge of Loan Servicing activities and terminology.
• Knowledge of Loan Servicing systems, FNMA guidelines, FHLB guidelines, credit and support, and accounting principles and practices.
• Knowledge of Jack Henry and Sageworks platforms
• Knowledge of federal and regulatory compliance.
• Ability to resolve external and internal customer service requirements.
• Excellent organizational and administrative skills, including multi-tasking assignments based on department priorities.
• Excellent verbal and written communication skills.
• Experience in managing third party vendors for taxes, insurance.
• Proficient PC skills: MS Office products, excel, and front-end software systems.
Department: Loan Operations Department
Reports: FVP, Director of Loan Operations
Position Summary:
The Loan Servicing Specialist is responsible for the servicing aspects of the commercial, consumer and residential loan portfolios. These loans include but are not limited to, commercial, C&I, SWAPS, micro-loans, syndication/participation, and real estate. Functions include thorough understanding of loan documents, system functionality and activities involving loan boarding, transaction and maintenance processing and quality control of same. The Loan Servicing Specialist works in collaboration with the servicing team and may be required to take reasonable actions necessary to carry out the assigned responsibilities of this position, provided that such action is assigned and is consistent with established procedures of Carver Federal Savings Bank. Key internal partners include the Lending, Portfolio Management, Audit, and Compliance departments.
Essential Duties and Responsibilities:
Loan Servicing
• Ensures loans are boarded to the loan system of record with a high level of accuracy within department service level agreements (SLA's).
• Responsible for all areas within Loan Servicing which includes, but not limited to, loan boarding and advances, reconciliation, billing, escrows and impounds, SBA reporting, loan documentation review and release, tickler reports, insurance, and property tax tracking, UCC filing, and other maintenance as required.
• Processes multifaceted loan transactions involving payments, advances, incoming and outgoing wires, payoffs, and insurance claims.
• Participates in servicing and settlement processes involving all types of loan purchase and sales.
• Assists in balancing and reconciling Loan Servicing general ledger and custodial accounts and research out of balance conditions; upload monthly reconciliation to ART for approval.
• Acts as single point of contact (SPOC) for the bank's third-party escrow and tax processing vendor relationship for real estate tax monitoring, escrow and force placed insurance, i.e., Lereta Tax & Flood Services and Lee and Mason Financial Services, Inc.
• Review booked loans for accuracy and assist with the internal/external audit requests.
• Monitor department to ensure deliverables meet SLAs; preventing workflow backlogs and ensuring all procedures are adhered to.
• Assists Loan Servicing team as needed in the daily review and sign-off of core reports required to monitor for potential issue resolution, clearing of non-posts, file maintenance, payments made the prior day, paid off loan and other servicing reports.
• Single point of contact (SPOC) for loan file and data collection, entry, and storage (the vault).
• Verify and scans new loan documents into Carver's document management system timely.
• Single point of contact (SPOC) for the collection and delivery of loan data and documents for loan sales, transfers, pay offs, etc.
• Works collaboratively with the FVP, Director of Loan Operations and AVP Loan Closing to ensure new loans are transitioned from loan origination to Loan Servicing.
• Monitors e-Oscar credit report dispute reports online.
• Assists with training new staff.
• Responds to customer inquiries.
Compliance, Quality Control and Other Duties
• Assist with all HMDA/CRA information and input to LaserPro for departmental compliance.
• Works with the appropriate departments to facilitate timely response to audit requests.
• Assist with work processes and procedures for cross-training and auditing purposes.
• Assists in the implantation of training of servicing related activities for new products and processes.
• Ensure compliance with Bank Secrecy Act, AML, OFAC and USA PATRIOT Act.
• Comply with all BSA training and procedures.
• Other duties as assigned.
Background and Experience:
• Four-year college degree or commensurate experience.
• Knowledge of Loan Servicing activities and terminology.
• Knowledge of Loan Servicing systems, FNMA guidelines, FHLB guidelines, credit and support, and accounting principles and practices.
• Knowledge of Jack Henry and Sageworks platforms
• Knowledge of federal and regulatory compliance.
• Ability to resolve external and internal customer service requirements.
• Excellent organizational and administrative skills, including multi-tasking assignments based on department priorities.
• Excellent verbal and written communication skills.
• Experience in managing third party vendors for taxes, insurance.
• Proficient PC skills: MS Office products, excel, and front-end software systems.
