Loan Servicing Specialist I

Job Description

Job Description
First Financial Federal Credit UnionJob Description

Job Title: Loan Servicing Specialist I, II

Department: Lending

Reports To: Loan Servicing Manager

Salary Grade(s): 6, 7

EEO-1 Job Class: 5 - Administrative Support Workers

FLSA Status: Non-exempt

☒ Full-time

☐ Part-time

☐ Temporary

Location: 72 Loveton Circle Sparks, MD 21152

☒ Telework Work Possible (if checked)

Important: See Telework Policy for Additional Criteria

Function:

Supports the lending function in all consumer and real estate loan products. Responsible for a variety of job tasks related to the post settlement servicing of loans.

Position Requirements:

EXPERIENCE: Based on level; ranges from one year to six years of similar or related experience.

• Loan Servicing Specialist I: 2-4 years

• Loan Servicing Specialist II: 4-6 years of experience

EDUCATION: Some college leading to a degree preferred.

An equivalent combination of education and experience may be accepted as a satisfactory substitute for the specific education and experience listed above

Duties:

Loan Servicing Specialist I

• Respond to Member loan file maintenance requests. Research member questions and/or discrepancies, performs necessary adjustments, communicate decisions to Member. This can include, but is not limited to: payment method, frequency, or amount changes; adding or removing payment protection, and processing payment skips.
• Cross collaborate with related lending units in all aspects of loan servicing, including Branch Offices, Loan Call Center, and Real Estate & Consumer Loan Fulfillment.
• Responsible for knowledge and adherence to all loan servicing policies and procedures.
• Maintain production, quality, and service standards for lending.
• Provide notary services for Credit Union documents
• Work with third party vendors to process claims and correct errors.
• Assist in preparation of loan payoff statements as requested.
• Use of Customer Relationship Manager (CRM) & DocuSign to efficiently process Member requests and document corrections.
• Responsible for entering accurate action notes and data integrity when performing loan file maintenance on existing accounts.
• Assists in the achievement of Lending Department and Credit Union Strategic Plan Goals.

Loan Servicing Specialist II

• Meet all requirements of Loan Servicing Specialist I & II.
• Apply analytical skills, judgment, and innovation to make decisions within the scope of standard operating procedures.
• Assist with advanced tasks in general loan servicing including but not limited to: ancillary products, collateral release, general ledger reconciliations, and total loss settlements
• Process Estate Claims when loans are involved.
• Sign off on vehicle collateral release documents
• Review and balance monthly general ledger reconciliations related to lending and ancillary products.
• Assist with training of department staff.

Adheres to regulations and organizational policies, maintaining awareness and knowledge required to perform the duties of the position including all aspects of the Bank Secrecy Act, Fair Lending, and Information Security.

Perform other assigned duties of similar scope and complexity.

Compensation details: 18-25 Hourly Wage

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