Residential Loan Servicing Specialist

Purpose

The Loan Servicing Processor 1 - Residential is responsible for booking and maintaining residential loans on the Banking system. The Loan Servicing Processor 1 - Residential ensures that loans are in compliance with Federal Laws relating to the accurate reporting of the Community Reinvestment Act (CRA) and/or Home Mortgage Disclosure Act (HMDA) information.

Essential Functions

• Performs a thorough review of all file information related to Residential loans that are submitted for booking to ensure receipt of required loan documentation and to obtain corrections as needed.
• Establishes new Residential loans on the Banking system ensuring that all data is accurately entered, and all accounts are in compliance with bank lending policy.
• Performs a secondary review for every new loan booked by other processors to verify accuracy of key fields per departmental procedures.
• Performs maintenance to loans as requested, including but not limited to: rate changes, payment changes, line extensions and renewals, suspense, charge-off, shadow account processing, automatic funds transfer, Automated Clearing House (ACH) transaction set up and maintenance, processing loan payments received, correction of non-posted items and suspense items.
• Ensures that all construction loan draws are advanced in accordance with loan terms and Bank policy.
• Performs secondary review on all maintenance performed by other processors as a result of requests from other departments or errors found.
• Maintains collateral accounts to reflect proper collateral control; Utilizes the Collateral Tracking system to track and follow up on any identified exception items for Mortgage loans.
• Accurately creates Uniform Commercial Code (UCC) filings with appropriate state for new Mortgages when applicable.
• Assures that proper coding is entered in the Banking system to accurately file mobile home liens through an electronic filing system; Research and re-file mobile home liens as necessary.
• Assists with quarterly and/or annual CRA and HMDA data scrubs, to allow for proper reporting utilizing Banking software for government reporting requirements.
• Prepare and process required Third Party documentation for loans sold to investors such as Freddie Mac, FHA, SONYMA, etc.
• Maintains multi-collateral file for weekly file submission to third party insurance vendor.
• Provides support to Bank staff on loan accounts responding to customer service phone calls and assisting with loan questions.
• Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders.
• Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Job Related Qualifications – Education and Prior Experience

• Required: Education: High School Diploma or equivalent
  Prior Experience: 1+ years Customer Service experience -OR-
• Preferred: Education: Associate Degree in Business or related field
  Prior Experience: 1+ years Mortgage Operations

Competencies

• High level of attention to detail with the ability to follow detailed procedures and ensure accuracy
• Strong organizational skills with the ability to multitask and prioritize to meet assigned deadlines
• Working knowledge of Microsoft applications with ability to learn new and existing Banking software
• Ability to work with all levels of staff and management
• Strong verbal and written communication skills

Physical Requirements

• Able to regularly sit for prolonged periods of time.
• Extensive computer usage is required.
• Moderate phone usage is required.

Benefits

• Medical, Dental, and Vision Insurance
• Health Savings Account
• Flexible Spending Account(s)
• Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
• Tuition Reimbursement
• Employee Referral Program
• Wellness Reimbursement Program
• Star Volunteer Program
• Employee Banking and Financial Perks
• Flexible Hybrid Work Schedule
• Paid Time Off (PTO)
• Company Paid Holidays