What are the responsibilities and job description for the Loan Servicing Payoff Specialist position at Landmark National Bank?
Position Summary
The Loan Servicing Payoff Specialist supports the loan payoff process and related servicing activities accurately and timely. This role is responsible for processing payoff-related tasks, maintaining accurate loan and collateral documentation, supporting escrow and insurance-related activities, and ensuring records are complete and audit-ready.
Essential Functions
This position is an individual contributor role and does not have direct reports.
The Loan Servicing Payoff Specialist supports the loan payoff process and related servicing activities accurately and timely. This role is responsible for processing payoff-related tasks, maintaining accurate loan and collateral documentation, supporting escrow and insurance-related activities, and ensuring records are complete and audit-ready.
Essential Functions
- Prepare and process collateral releases, escrow refund disbursements, and related filing checks accurately and within established timelines.
- Review paid off loans files for credit life, cancel private mortgage insurance, and cancel other third-party vendors.
- Organize paid-off loan documentation for scanning, retention, and recordkeeping in accordance with Bank standards.
- Assist with research and process insurance policies for tracking, maintenance of core system for insurance billing, and process insurance cancellations.
- Assist with semi-annual real estate tax payments along with other Escrow Account functions.
- Prioritize work effectively to ensure timely completion of tasks, projects, and deliverables.
- Evaluate and optimize processes to reduce errors, eliminate inefficiencies, and improve outcomes.
- Ensure documentation is complete, current, and audit-ready in accordance with policy and regulatory requirements.
- Adhere to bank policies and procedures.
- Maintain reliable and predictable onsite attendance to meet business and customer needs.
- Demonstrate respect for others by fostering an inclusive, collaborative, and professional work environment.
- Embrace curiosity by seeking to learn, improve, and identify opportunities for growth and innovation.
- Act with integrity by maintaining accountability, following policies and procedures, and doing what is right for customers, colleagues, and the Bank.
- Promote authenticity through honest and forthright communication as well as transparency.
- Strengthen unity by working cooperatively across teams, supporting shared goals, and contributing to a positive culture.
This position is an individual contributor role and does not have direct reports.