• Loan Servicing Specialist - New Loan Operations

    Location US-NY-Long Island City
    Category
    Operations
  • Overview

    Ensures new Mortgages and HELOCs are successfully transferred from Mortgage Closing Loan Servicing Core System (FISERV-DNA). Verifies all loan information transferred is accurate and works with Mortgage Originations and Post Closing to resolve any inaccuracies. Produces a high degree of efficiency and accuracy on-boarding new loans, and escalates to management when appropriate.  Responsible for processing member payments, setting up/modifying automatic ACH and internal payment instructions, making principal payments, and researching unapplied reports. Complies with applicable Federal, State and NCUA rules, regulations and laws while upholding UNFCU’s commitment to high quality member service.

    Responsibilities

    • Review new loans, verifying principal, interest, taxes, insurance (PITI) and escrows received for accuracy.
    • Review member information and ensure member numbers are correct.
    • Ensure P&I transferred from Mortgage Closing matches DNA (core system) information.
    • Report and resolve principal and interest differences to management.
    • Ensure property tax information is accurate by verifying payee numbers in DNA (core system).
    • Create payees for taxing authorities when necessary.
    • Verify flood insurance certification is available and flood zone is verified.
    • Ensure applicable loan is identified in a flood zone and sufficient escrow is collected for payment.
    • Verify flood insurance is on file and Allied Solutions is notified.
    • Verify applicable Hazard Insurance is available and deductibles are within guidelines.
    • Process escrow collected at closing and reconcile to general ledger.
    • Set up private mortgage insurance (PMI) if applicable and next payment due dates.
    • Meet with Mortgage Originations to discuss open items and system rejects.
    • Maintain confidentiality of member information.
    • Ensure all loans are on-boarded in a timely manner.
    • Meet established standards and guidelines with regard to compliance, job knowledge, quality, attendance and punctuality, efficiency, initiative, member service and overall performance.
    • Keep abreast of changes to current policies and procedures.
    • Provide coverage for other Loan Servicing Representatives as needed.

    Qualifications

    TYPE & AMOUNT OF EXPERIENCE:

    • Bachelor’s degree, or equivalent experience, plus 2 or more years of related work experience in loan servicing or in work that provided a working knowledge of mortgage loan products

     

    TECHNICAL COMPETENCIES:

    • Must have general knowledge of federal, state, county or city, investor, insurer, and internal laws, policies and procedures with regard to mortgage and consumer loan servicing
    • Must have a good working knowledge of servicing guidelines and regulatory requirements established under RESPA and implemented through CFPB
    • Familiarity with loan related documents such as Note, Mortgage/Deed of Trust, Riders, PMI and Flood Certificates and Closing Disclosures/TRID preferred
    • Strong Microsoft Office skills; experience with Mortgagebot and Fiserv DNA preferred

     

    BEHAVIORAL COMPETENCIES:

    • Ability to pay attention to detail while handling a high volume of work with multiple interruptions
    • Exhibit professionalism, empathy, and courtesy in all interactions with UNFCU members and colleagues
    • Ability to work effectively in a team-oriented environment as well as independently
    • Excellent communication skills, both verbal and written
    • Professional appearance and willingness to work flexible work hours

     

    WORK ENVIRONMENT/CONDITIONS:

    • Standard office conditions

     

    In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.

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