Loan Servicing Assistant Job in Westborough 01581, Massachusetts US
Performs a variety of loan servicing and processing activities in conformance with established bank policies, procedures and objectives. Performs any functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers.
- Sets up new loans for commercial, construction mortgage, residential mortgage, home equity, collateral loans, installment loans, personal loans, business overdraft, and ACH lines. Performs the initial review of legal documents and setup forms for accuracy and completeness.
- Research and resolve servicing issues in support of loan officers and customers within scope of authority and expertise. Works with manager to ensure timely and accurate Loan Servicing practices.
- Ensures timely payment of escrowed hazard insurance premiums, PMI premiums and real estate taxes. Responds promptly to all written and verbal requests by customer, attorney, Insurance Company, and town treasurers relating to escrow and insurance administration. Ensures timely and accurate processing of all ongoing yearly escrow analyses.
- Processes re-amortization schedules and modification agreements. Review modification agreements for accuracy and completeness. Calculates new principal and interest payments. Prepares and provides to customers new disclosure statements and agreements for signature.
- Monitor, maintain and update rate and payment change records as required. Sends adjustment notices to customers and responds to any customer inquiries or concerns. May manually calculate daily interest rate and per diem rate for customer/lender/attorney.
- Process all basic/simple loan payments. Prepare mortgage and loan bills daily including corrected and replacement bills as well as order coupon books.
- Performs general ledger account balancing. Reconcile, research and make corrections as necessary.
- Identifies Flood, CRA, and other regulatory issues via setup forms and documents. Reviews co-worker's new loan setups via daily reports for accuracy and completenes
- Performs monetary and non-monetary maintenance on all loans. Daily verification of branch new loan setup and approvals. Update spreadsheets with daily volumes, i.e. daily metrics and board reporting information.
- Works with the systems team to run CRA file as well as Escrow Analysis files via complex assessment of funds availability.
- Performs advances and disbursements on Commercial Lines of Credit. Reviews and researches requests to ensure all risk associated have been mitigated
- Supports other Loan Servicing team members in post-closing, payoffs and vault responsibilities.
- Performs all duties in accordance with prescribed regulatory compliance guidelines.
- Refers sales opportunities to other departments or Bank affiliates in support of established objectives.
- Associates Degree or equivalent relevant work experience.
- At least one year of lending, banking or loan processing or servicing experience is required.
- Must have a basic understanding of debits and credits- prior experience or coursework in accounting is desirable.
- Must be detailed, organized and customer service oriented.
- Must possess at least intermediate technology skills, including knowledge of word processing, database and spreadsheet applications.
- Knowledge of Bank's various residential, consumer and commercial products and policies is desirable.
Equal Opportunity Employer
Search Firm Representatives, Please Read Carefully:
Middlesex Savings Bank does not accept unsolicited resumes from search firms for this or any employment opportunity.
If interested, please apply online at http://track.tmpservice.com/ApplyClick.aspx?id=1418011-1789-7272
November 9, 2008
• Tags: Loan Servicing Assistant Job in Westborough 01581, Massachusetts Us • Posted in: General