Loan Operations Specialist YA

Position Summary:

As an employee of the Bank, supports company culture and mission statement to “Have a Positive Impact on People’s Lives”. Responsible for uploading, editing and servicing loan accounts.

Principal Duties and Responsibilities:

1. Serves as a Loan Processor
   1. Uploads new loans and renewals to core system for consumer loans, lines of credit, and commercial loans; including purchased participations and Bankers Health Group loans.
   2. Processes loan modifications for all loan types to the core system, ensuring documentation is accurate and clearly and legally reflects the intended change.
   3. Disburses funds for loan closing fees and invoices for commercial loans.
   4. Add new loans floor plans and guidance lines to core system, ensuring master note is within limits. Process the necessary transactions and communicate to customer of status and resolve any issues.
   5. Ensure loan documentation, at time of initial processing through life of loan, is accurate and complete to meet compliance standards of bank and regulatory entities. Create loan maintenance or document tracking in core to address any exceptions or findings.
   6. Produce, file, and terminate collateral perfections, to include, UCC filings and continuations, DMV liens, and real estate recordings. Create tracking as needed to monitor required insurance, UCC continuations, receipt of proof of collateral hold, final title policy, etc.
   7. Build and maintain loan and collateral account in core, document repository, and third-party property tax vendor.
   8. Edits all new, renewed and general maintenance of loans in core system for commercial, consumer and real estate loans.
   9. Reviews final title work, mortgages and assignments of leases and rents for accuracy, clears loan maintenance tracking and saves to document repository.
   10. Updates SBA portal with maturity date of booked loans.
2. Serves as Loan Servicing Specialist
   1. Processes loan payments, payoffs, and advances, and manage payment reversals to correct errors.
   2. Reconciles general ledger loan control on a daily basis, correcting entries as needed.
   3. Researches and prepares payoff quotes for third-party requests.
   4. Posts monthly payments to floor plans and guidance lines, identify and resolve any discrepancies, and communicate with customer as needed.
   5. Monitors and processes commercial loan construction draw disbursements from title companies.
   6. Works directly with third party financial institution to maintain loan information, process payments, and draw requests on sold and purchased participated loans.
   7. Creates and sends rate change notices to floor plan customers when interest rate adjusts.
   8. Finalizes paid loans. Determines collateral to be released, prepares collateral satisfactions, sends required notifications for PMI and secondary market loans, updates collateral account and customer settings in core system, updates document repository, removes documents from paper loan file and sends paid letter to customer.
   9. Processes homeowner’s insurance escrow disbursements, ensures premium payments are on time. Performs loan maintenance and transaction in core system, saves documentation in document repository, sends payment to insurance carriers. Investigates any discrepancies, carrier changes and missing premium notices.
   10. Manages flood insurance requirements per loan. Monitors tracking report, verifies coverage and communicates with customer per flood regulations, performs loan maintenance and transactions in core, saves documents in document repository, sends premium payments, updates shared excel spreadsheet with Compliance.
   11. Monitors and reconciles all exceptions on the tracking system.
   12. Maintains third-party property tax monitoring system. Uploads monthly paid loan report and monitors and clears exceptions.
   13. Reviews credit bureau reporting monthly via TransUnion reports
   14. Process and resolved consumer credit report disputes by monitoring the e-Oscar website.
   15. Disburse property tax payments. Obtains, compares and verifies tax payment information from third-party property tax vendor to core system. Prepares and sends payments with detailed tax parcel listing to municipalities and customers. Completes maintenance to core system and third-party property tax vendor.
3. Support Loans and Operations
   1. Researches and answers customer inquiries regarding loan information.
   2. Recommends updates to procedures or policies as it relates to regulatory compliance or identifies opportunities for process improvement.
   3. Maintains up to date procedures for job tasks.
   4. Performs mass maintenance and cleanup projects to core system.
   5. Assists with audit requests including reports, research, questionnaires and responses. Makes necessary changes as needed.
   6. Maintains Loan Operations page of intranet.
   7. Submits annual tax reporting documents to IRS for land contracts.
   8. Monitors safe keeping items.
   9. Monitor various databases for interest rate changes; tracking and requesting systems updates as rates change.

Knowledge, Skills and Abilities Required:

The ability to work independently or function in a team. Individual must possess:  problem solving skills; excellent interpersonal and verbal communication skills; professional demeanor and appearance; ability to interact professionally with a wide variety of people, dealing effectively with difficult customers and employees; willingness to assume responsibility and solve problems; ability to learn and use technology needed; ability to maintain confidential and sensitive data relating to customers and employees; a strong sense of attention to detail. 

Competencies:  

Informing, Listening, Technical Skills, Organization, Priority Setting and Team Building

Salary : $17