Loan Servicing Specialist
Milford Federal is looking for a detail oriented person to join our Loan Servicing Team. The Loan Servicing Specialist performs a variety of loan servicing duties involving both performing and non-performing loans.
Primary Responsibilities:
- Performs duties required to collect non-performing loans including making phone calls to non-performing loan borrowers, reviewing periodic reports listing delinquent status of loan accounts, prepare and send routine late payment notices and letters.
- Service all types of existing loans including responding to customer requests, preparing payoff statements, processing payoffs, researching and preparing discharges and monitoring payment plans.
- Monitors, tracks, and reports hazard, flood and force placed insurance policies.
- Performs post-closing process and set up new loans, including funding conveyancing accounts, reviewing and monitoring incoming closing related paperwork, preparing new loan set-up sheets, setting up automatic payments, and creating new loan files.
- Reports payment status of all loans to investors and MI companies.
- Process loan department teller transactions including balancing work and cash box at the end of the day.
- Assists in the set up and payment of escrowed property taxes and insurance as well as the collection and monitoring of past due non escrowed taxes
- Performs corrections and verification of information reported to the credit bureaus.
- Assists in the monitoring and disbursing of hold-back funds, insurance checks and construction loans.
Knowledge/Skills/Experience Requirements:
Excellent verbal and written communication skills. Proficient in math and English, solid knowledge of Microsoft office. Knowledge of applicable federal, state, regulatory agency, and investor laws, rules and guidelines. 1-3 years banking or related experience preferred but not required.
