What are the responsibilities and job description for the Loan Operations Representative position at Clinton Savings Bank?
This is a Hybrid position
The Loan Operations Representative performs duties related to the servicing of residential, consumer, and commercial loans including, but not limited to: book, review, and maintain loans, prepare and process loan payoff requests, prepare discharge documents, monitor and track hazard insurance renewals and cancellations, utilize third-party systems to update tax data and process real estate tax payments, review accounts for termination of Private Mortgage Insurance (PMI), process loan and GL transactions, research & resolve servicing issues.
* Responsible for the prompt and accurate processing of financial transactions, including but not limited to: real estate taxes, fees, all escrow transactions, and loan payments.
* Reviews various reports to determine escrow disbursement for property taxes, PMI, hazard and flood insurance.
* Reviews monthly report for termination of PMI. Responds to borrower requests for cancellation and processes accordingly.
* Monitor and update collateral and UCCs.
* Maintain insurance tracking report for force-placed hazard and flood insurance.
* Processes cancellation of force-placed hazard and flood insurance with third- party service providers in accordance with regulatory requirements.
* Process various file maintenance on appropriate system accurately and timely. File supporting documentation according to department procedure and/or regulatory requirements.
* Performs all related responsibilities of loan payoffs and discharges including, but not limited to: payoff quotes, letters to attorneys and customers, process payoff transaction, prepare discharge documentation, and review of closed file ensuring compliance with standards and regulations.
* Provides a high level of customer service through verbal and written communication to internal and external customers. Researches and resolves routine problems. Coordinates with AVP, Loan Operations Manager when handling complex or sensitive servicing issues.
* Assist Collection Officer with reviewing, processing, and sending customer notifications related to negative escrow and delinquent tax issues.
* Act as back-up for Secondary Market investor reporting and remittance and for agency secondary market function.
* Prepares monthly reports and process payments for participation loans.
* Performs loan servicing activities, ensuring compliance with Bank policies and procedures and government and regulatory guidelines and requirements. Ensures compliance with servicing agreements on investor loans.
* At least one year of lending, banking or loan processing or servicing experience is required to include familiarity with loan documentation.
* Work requires knowledge of loan servicing, secondary market investor regulations and escrow function.
* Must have a basic understanding of debits and credits- prior experience or coursework in accounting is desirable.
* Strong attention to detail and demonstrated ability to multi-task.
* Strong verbal and written communication skills.
Clinton Savings Bank is an EOE Vet/Disability
Member FDIC Member DIF