Loan Servicing Specialist I

Description/Job Summary

Position Summary:

The Loan Servicing Specialist primary responsibility is to service various types of new, modified, and renewed loans. This position works with the loan servicing team and collaboratively with loan assistants, loan officers, loan documentation and boarding specialists to facilitate smooth and timely servicing of loans. 

Major Duties and Accountabilities:  

• Takes part and embraces the Legacy Culture and gives outstanding customer service to internal and external customers.
• Completes quality assurance validations of all types to ensure loan information and financial reporting is accurate.
• Perform recordation of UCC-1's, mortgages, direct liens for titled collateral, life insurance assignments and any other bank approved collateral.
• Process all paid loan collateral release transactions: Including real estate, vehicle title releases, life insurance, UCC'S and assignment releases.
  • Prepare lien releases.
  • Removal of tax insurance tracking on LERETA.
  • Prepare and mail customer paid loan letters and documents.
  • Ensure requests and responses are properly indexed to the loan.
• Review new loans boarded, modifications, renewals, maintenance, and other loan servicing activity to ensure loans are indexed correctly in the bank's cold storage software.
• Verify all tracking items to ensure correct date and descriptions were set up and tied to the corresponding loan numbers.
  
• Process and respond daily to physical and returned mail items, efaxes and distribute to appropriate associates.
• Formulate professionally written responses to incoming internal and external customer emails with accurate information and withing the established timelines.
• Comply with all bank policies and procedures regarding areas of assignment and responsibility.
• All other responsibilities as assigned. 

Required Qualifications

• Required:
  • A high school diploma or GED equivalent.
  • 1-year previous banking/loan experience.
  • Strong computer skills.
  • Excellent written and verbal communication skills. 

Preferred Qualifications

• Preferred:
  • Knowledge of FCRA, Metro2, e-OSCAR and CRRG.
  • Knowledge of Farmer Mac, FSA and SBA guarantee loan products.
  • Knowledge of TILA RESPA Integrated Disclosure rule. 
  • Knowledge of loan terminology and elements/process required to close a loan.
  • Knowledge of general banking principles and federal and/or state regulatory lending laws.