Loan Servicing Specialist I/II/III/Sr.

About the Role

Under the direction of the Loan Servicing Supervisor, the Loan Servicing Specialist positions (I/II/III/SR) are responsible for servicing consumer and real estate lending portfolios. Key duties include reviewing loan documents, processing loan payoffs or insurance claims, and providing routine support to members, internal departments, dealers, lien holders, and insurance companies. Higher-level positions (II/III/SR) handle additional responsibilities such as General Ledger (GL) reconciliation, deceased accounts, reports, and audits.

The incumbent reports directly to the Loan Servicing Supervisor with no direct reports.

Responsibilities

Loan Servicing Specialist I

• Retrieves, sorts, and distributes incoming mail and faxes from branches, staff, members, lenders, dealers, third-party vendors, and insurance companies.
• Processes returned mail, researches corrections, performs system file maintenance, and contacts members as needed.
• Handles incoming and outgoing calls to assist borrowers, internal staff, dealers, and lien holders; communicates via email and web chat.
• Owns incoming email requests for the Loan Servicing department and confirms completion with the initiating party.
• Processes incoming insurance payoffs and provides Letters of Guarantee for totaled or stolen vehicles.
• Recommends workflow efficiencies and automation for resource maximization.
• Participates in community relations events.
• Maintains accuracy within established expectations to avoid negative impacts on members, dealers, staff, or financials.
• Places department supply orders within budget guidelines with management approval.
• Completes required compliance training by deadlines.
• Performs other relevant administrative duties as required.

Loan Servicing Specialist II (includes all Specialist I duties, plus)

• Prepares consumer loan paid-in-full letters for members or third parties.
• Processes deceased account notifications for members with existing loans.
• Documents and processes incoming consumer loan payoffs.
• Performs GL debit to credit loan records for wired payoff funds and updates tracking fields for DMV title release.
• Processes checks for product cancellations, fee refunds, non-standard loan payments, and protection product claims.
• Provides written consumer loan payoffs to financial institutions, dealers, and members.
• Supplies written consumer loan payoffs to mortgage companies for refinancing debt consolidation.
• Verifies deductibles and CCCU lien holder status for Collateral Protection Insurance (CPI) inquiries.
• Performs maintenance on consumer loan records, including recasting, payment/interest adjustments, and due date changes.
• Adjusts loan records per approved Loan Accommodation forms.
• Validates monthly statement files for lending-related items with Marketing and Operations departments.
• Engages in cross-training and conducts inter-department new hire training.
• Maintains thorough knowledge of loan documents, products, services, systems, policies, and procedures.
• Performs other relevant loan servicing duties as required.

Loan Servicing Specialist III (includes all Specialist II duties, plus)

• Monitors real estate closed loan reports.
• Processes real estate loan subordinations.
• Reconciles in-house after-market protection product sales and verifies GL entries for Accounting.
• Handles claims for in-house after-market protection products, including document gathering, loan updates, claim submissions, and status updates.
• Processes CPI transactions, including cancellations and refunds, and updates File Maintenance (FM) system fields.
• Performs maintenance on real estate loan records, including recasting, payment/interest adjustments, and due date changes.
• Participates in the Loan Review Committee (LRC) for post-loan audits to ensure policy adherence.
• Assists in developing and revising department procedures.
• Processes "move loans" for routine, non-fraudulent requests.
• Investigates credit reporting disputes and submits corrections.
• Assists with internal or external exam preparation.
• Reviews and develops training materials and shadowing sessions for Branch or MSC staff.
• Participates in materials review and lending-related training courses.
• Performs other relevant loan servicing duties as required.

Senior Loan Servicing Specialist (includes all Specialist III duties, plus)

• Backs up all Loan Servicing Specialists on referenced duties.
• Handles post-settlement funds for in-house after-market protection products.
• Troubleshoots technical problems within Loan Servicing, including core system or third-party vendor integrations; collaborates with IT or modifies processes for solutions.
• Performs system testing for new software releases from IT or third-party vendors.
• Works with Collections and Accounting to process month-end charge-offs.
• Corrects vesting and funding errors.
• Validates annual 1098 tax statements for Real Estate loans before IRS upload and member mailing.
• Resolves difficult member, dealer, or lienholder requests proactively before escalation.
• Collaborates with LPPS department to implement lending products, promotions, or process refinements.
• Performs research and communicates results as needed.
• Performs other advanced loan servicing duties as required.

Requirements

• Ability to use a personal computer with Microsoft Office applications (Excel, Word, PowerPoint, Outlook).
• Proficiency in operating office equipment (printer, fax, copier, scanner, phone).
• Strong verbal, listening, and writing communication skills.
• Organized, detail-oriented, and able to multitask in a high-paced environment.
• Professional and courteous interaction with staff, members, dealers, and vendors.
• Punctuality and adherence to established rules and procedures.
• Collaboration with co-workers, including upper management.
• Positive attitude and professional appearance.
• Excellent analytical skills with ability to compute basic mathematical equations and ratios.
• Problem-solving skills and ability to work independently.

Qualifications

Eight Superpowers (Core Competencies)

• Provides leadership through behavior modeling and innovation.
• Demonstrates empathy, self-reflection, and emotional intelligence.
• Practices active listening to understand, not just respond.
• Shows grit by persisting to achieve goals despite obstacles.
• Models intrinsic motivation to meet objectives and build relationships.
• Applies creative problem-solving to navigate barriers and meet goals.
• Values diverse perspectives, experiences, and backgrounds; actively seeks differences in ideas and priorities.
• Promotes inclusion by appreciating and utilizing unique talents and skills; encourages collaboration and fairness.

Experience and Education

• Loan Servicing Specialist I: High school diploma or equivalent plus 1+ years of general clerical or administrative experience, preferably in a financial institution or dealer setting.
• Loan Servicing Specialist II: High school diploma or equivalent plus 2–4+ years of lending experience or demonstrated superior performance. Knowledge of lending terminology, documents, and regulatory requirements (e.g., CCPA, ECOA, TIL, ADA, AML, BSA, FCRA, FHA, GLBA, UDCP). Experience with financial core systems (Epysis Symitar preferred). Ability to cross-train staff.
• Loan Servicing Specialist III: High school diploma or equivalent plus 6–8+ years of lending experience or demonstrated superior performance. Strong knowledge of insurance claim processing. Ability to train branch, MSC, and department staff. Analytical skills for complex financial transactions.
• Senior Loan Servicing Specialist: High school diploma or equivalent plus 12+ years of lending experience or demonstrated superior performance. Knowledge of complex lending terminology, scenarios, and documents. Ability to work in multiple GLs, research, balance, and reconcile entries. Experience interpreting credit bureaus and understanding credit composition and FCRA.

Major Accountabilities

• Processes loan payoffs from various sources, including insurance proceeds or after-market GAP claims.
• Administers the CPI program, reconciles after-market product sales, issued policies, and GL entries.
• Oversees loan records and required changes.
• Ensures loan documentation complies with regulatory requirements.

Physical Requirements

Ability to tolerate periods of continuous sitting.

Work Environment

Primarily performed within a cubicle office setting during standard hours.