LOAN SERVICING SPECIALISTAbington Bank
Performs a variety of loan servicing and related administrative and clerical functions in conformance with Bank policies and procedures for Abington Bank, Easthampton Savings Bank and Hometown Bank.
PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:
Performs any functions necessary, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers of Abington Bank, Easthampton Savings Bank and Hometown Bank.
1. Responsible for the accurate boarding of all new residential and consumer loans for Abington Bank, Easthampton Savings and Hometown Bank and all new commercial loans for Abington Bank. Processes, administers and maintains the timely and accurate servicing of the loan portfolio for all banks. Responsible to have the Masterfile print reviewed for all new loans setup on system for accuracy and make any corrections to data as needed.
2. Responds to customer inquiries orally and in writing, provides support for all loan issues from closing through and including payoffs. Researches and resolves servicing issues within scope of authority and expertise. Work with supervisor to ensure timely and accurate servicing practices.
3. Ensures timely payments, reviews and maintains the accuracy of the adjustable rate mortgage loans. Disburses funds for new loans and processes the construction loan disbursements. Verifies construction loan disbursement requests for proper authorization and appropriate lending limits. Monitors and performs maintenance for minor changes on the matured home equities and construction loans. Prepares and mails out the proper disclosures and notification to customer, reviews the bill for accuracy and document the maintenance.
4. Ensures new and existing escrow accounts are properly established and serviced; accurate and timely processing and payments of hazard insurance, flood, life, private mortgage insurance and real estate taxes according to compliance guidelines for Abington Bank, Easthampton Savings Bank and Hometown Bank. Respond promptly to all written and oral requests for all banks. Tracking of the delinquent and pay own taxes for collection department. Ensure timely and accurate processing of all initial and annual escrow analysis. Monitors hazard insurance tracking and payment of insurance if needed to include flood insurance cancellations and determines if force placed insurance has been implemented by the third party provider. Prepare all necessary letters to customer to comply with the regulation, input tax information into the third party provider software and process charges to the escrow account within the guidelines.
5. Responsible to complete internal and external verifications, post ACH and online payments and manually post rejected allotments.
6. Prepare and maintain the changes to the loan system for loan sales to the secondary mortgage market. Reconcile monthly activity to include reporting to the investor, general ledger proof, processing payoffs and retrieving documents from the document custodian.
7. Responsible for the critical function of obtaining rates daily for the indices tracked and the accurate input of rates into Insight for both banks.
8. Manages the payment processing for residential and consumer loans to include manual calculations to confirm interest received, payoffs and annual verifications. Initiates wire transfers when needed for payment processing.
9. Ensures sufficient and accurate loan collateral, including titles and passbooks, transmit new UCC’s for electronic filing and track for continuation and termination and perform searches as needed. Ensures collateral value is sufficient for the loan balance and Abington Bank, Easthampton Bank and/or Hometown Bank are listed as lienholder to protect the bank’s interest. Processes and submit VSI payments for consumer loans monthly. Follows proper procedures for the releasing of collateral.
10. Processes requests for exception loan processing from other departments to include, foreclosures, charge offs, partial charge offs, right of setoffs, risk rating maintenance, bankruptcy payments and collateral payments.
11. Processes requests and verify calculations for payoffs for all banks for residential and consumer loans and commercial loans for Abington Bank. Prepare necessary documents and submits timely to requestor.
12. Prepares discharges and documents for recording. Processes discharges electronically through Simplifile and ensures receipt of recording. Prepare paid documents and correspondence to be delivered to the customer, release insurance lienholder and archive file.
13. Prepare memos related to loan servicing for extensions, partial releases, requests for principal & interest reduction payments or interest only payments and rate modifications. Completes the maintenance and follow up on the next bill statement for accuracy.
14. Responds to credit bureau disputes via E-Oscar and customer initiated disputes following the bank’s error resolution procedures for all banks.
15. Responsible for the scanning and indexing of all loan documents, maintenance requests, customer correspondence, internal forms/memos and all other documents as needed for archival purposes.
16. Reviews system reports as needed. Processes corrections as needed after review of the daily exception reports along with the review of daily Verafin reports.
17. Supports the HFG call center in handling customer and department calls for all banks for inquiries and research, electronic banking inquiries as they relate to loan activity and processes loan payments made through the banks’ website portal.
18. Has the inherent responsibility to recommend changes to promote operational efficiencies and quality customer service.
19. Performs all duties in accordance with prescribed regulatory guidelines.
OTHER ACCOUNTABILITIES / RESPONSIBILITIES:
Performs related and unrelated duties as may be required.
Seeks involvement in a community development service within the Bank’s assessment area. Community development encompasses affordable housing and community services that target low or moderate income individuals and activities that revitalize or stabilize targeted low or moderate income neighborhoods. Community development services must be related to providing a financial service or use the financial expertise of the bank employee. Examples include:
• Offering accounting skills to a local charitable organization that serves low or moderate income individuals;
• Performing bookkeeping services to low or moderate income seniors;
• Teaching a financial literacy program for school children;
• Fundraising on behalf of a local or state agency that provides services and/or programs targeting low or moderate income individuals;
• Activities that revitalize or stabilize low or moderate income areas.
High school diploma plus specialized courses or training. Two plus years related experience. Must be very detail-oriented and demonstrate organizational and communications skills. Understanding of accounting principles. Good customer service skills. Knowledge of the Bank’s various lending products and terms of loans. Understanding of different business types and paperwork required by the bank in the loan process. Able to use various types of office equipment including computer terminal, imaging equipment and loan related software programs. Working knowledge of COCC, Encompass, Lender Link and Loan Writer are preferred.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.