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 Loan Servicing Specialist - Windsor, Connecticut, United States

   
Job information
Posted by: Windsor Federal Savings & Loan 
Hiring entity type: Other 
Work authorization: Existing work authorization required for United States
Position type: Direct Hire, Full-Time 
Compensation: ******
Benefits: See below
Relocation: Not specified 
Position functions: Finance
 
Travel: Unspecified 
Accept candidates: from anywhere 
Languages: English - Fluent
 
Minimum education: See below 
Minimum years experience: See below 
Resumes accepted in: English
Cover letter: No cover letter requested
Job code: AqY8rPOVX6JkWNCjrhBAKUuasYIUZd / Latpro-3831151 
Date posted: Oct-13-2021
State, Zip: Connecticut, 06095

Description

POSITION SUMMARY:

Provide high quality customer service to customers, investors and bank personnel for all loan products offered by the Bank. Furnish information, answers questions and performs specialized servicing tasks to insure that the loans the bank owns or services are properly maintained. Responsible for monitoring of hazard insurance and flood insurance coverages, and performing force placed insurance procedures. The incumbent will also ensure payment of taxes, perform escrow analysis, review and mail interest rate change notices, initiate payment of private mortgage insurance, process loan payoffs and remit investor payments and reporting timely. In addition, the incumbent will research accounts to satisfy customer inquiries, maintain reports and perform various back-office functions.

ESSENTIAL FUNCTIONS:

  • Respond to customers, bank staff and investor inquiries or concerns regarding the servicing of an account and provide a quality response.
  • Research problems and make adjustments, as required.
  • Set up Investor Loans on the loan servicing system and perform the related journal entries to record the sale
  • Remit timely monthly payments and reports to all the loan investors that we service
  • Process timely payments of taxes, homeowner’s insurance and mortgage insurance bills from the customers’ escrow accounts.
  • Monitor cancellations of homeowner’s insurance coverage and perform the forced place insurance procedures.
  • Monitor the payment of property taxes on mortgage loans that do not escrow for taxes.
  • Perform escrow analysis
  • Monitor for home equity lines of credit going into their repayment period and perform the required file maintenance. Communicate to customers that their draw period will be expiring in a timely manner.
  • Balance various general ledger and custodial checking accounts as required.
  • Review interest rate changes on adjustable customer’s accounts for accuracy.
  • Update interest rate indexes for the Bank’s loan products on a weekly basis.
  • Process loan modifications, subordination agreements and construction advances.
  • Monitor loan accounts that have private mortgage insure to ensure compliance with federal regulations.
  • Perform account maintenance (e.g., modifications, reversals, late charge waivers)
  • Respond to payoff requests and prepare payoff documentation and mortgage releases.
  • Monitor loan reports on an ongoing basis to identify and correct problems.
  • Update property insurance policy information on the loan servicing system on an ongoing basis.
  • Update stale property insurance information in the loan servicing system by contacting customers to request current policy information.
  • Monitor cancellations of property insurance coverage and perform forced place insurance procedures in accordance with the applicable regulations.
  • Monitor and maintain separate files for loans covered by Flood Insurance.
  • Perform Flood Insurance “Notice” and “Forced Placed” insurance procedures in compliance with the applicable regulations when renewal policies received that are not in compliance with the regulations or when the policy is not renewed.
  • Monitor the payments of property taxes on mortgage loans that do not escrow for taxes on a semi-annual basis. Contact customers regarding their requirement to pay their taxes. Add a monthly escrow payment to the customer’s bill if the customer fails to resolve the delinquent tax issue.
  • Perform a Quality Control review of closed consumer and residential loan files secured by real estate.
  • Perform a HMDA audit of originated residential and consumer loans.
  • Prepare entries to facilitate loan advances on real estate construction and improvement loans.
  • Follow-up to ensure all recorded deeds are received and that recording information is input into the loan servicing system.
  • Perform post closing audits of residential files on an as needed basis.
  • Perform record retention procedures (e.g., boxing, paring down files).
  • Complies with all bank policies, procedures, and BSA, Deposit and Lending regulations. 

REQUIRED EDUCATION, EXPERIENCE, AND SKILLS

  • Post high school education including accounting coursework or its equivalent with 3-5 years mortgage loan servicing experience or some comparable combination of education and experience. An accounting background is helpful.
  • Excellent written and verbal communications skills
  • Strong customer service orientation.
  • Proficient operation of the Bank’s loan servicing system and Microsoft Software such as Word, Excel, and Outlook.
  • Working knowledge of the Bank’s loan product offerings, Bank loan regulations and the Bank’s loan policies and procedures
  • Ability to interact with co-workers and customers in a positive manner.
  • Ability to exchange information with others clearly and concisely: to present ideas, facts and technical information.
  • Ability to perform under stress when confronted with critical time line constraints and large work volumes.
  • Ability to perform a variety of duties within the department, after receiving appropriate cross training, without the loss of efficiency or composure.
  • Ability to receive guidance and supervision and follow work rules and procedures. Ability to meet deadlines, and to meet punctuality and attendance standards.
  • Ability to systematically identify task requirements and monitor progress towards accomplishment.
  • Ability to maintain relationships that facilitate task accomplishment, to cooperate and resolve conflicts, to recognize needs and be sensitive to others and to convince and persuade
  • Ability to work independently as well as in a team based environment
  • Ability to learn quickly with a strong attention to detail and problem-solving

Windsor Federal Savings, an Equal Opportunity Employer, offers a competitive compensation and benefits package including vacation, personal days, paid sick time, holidays, participation in a 401(k) plan, and profit sharing.

For consideration, qualified applicants may email a cover letter and resume to slevasseur@windsorfederal.com.

Windsor Federal Savings, 250 Broad Street, Windsor, CT 06095
An Equal Opportunity Employer


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Requirements

None

 

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