Residential Loan Servicing Specialist

Loan Servicing Processor 1 - Residential

The Loan Servicing Processor 1 - Residential is responsible for booking and maintaining residential loans on the Banking system. The Loan Servicing Processor 1 - Residential ensures that loans are in compliance with Federal Laws relating to the accurate reporting of the Community Reinvestment Act (CRA) and/or Home Mortgage Disclosure Act (HMDA) information. This position will verify that proper documentation is received and/or filed.

Essential Functions:

• Performs a thorough review of all file information related to Residential loans that are submitted for booking to ensure receipt of required loan documentation and to obtain corrections as needed. Establishes new Residential loans on the Banking system ensuring that all data is accurately entered, and all accounts are in compliance with bank lending policy. Performs a secondary review for every new loan booked by other processors to verify accuracy of key fields per departmental procedures.
• Performs maintenance to loans as requested, including but not limited to: rate changes, payment changes, line extensions and renewals, suspense, charge-off, shadow account processing, automatic funds transfer, Automated Clearing House (ACH) transaction set up and maintenance, processing loan payments received, correction of non-posted items and suspense items. Ensures that all construction loan draws are advanced in accordance with loan terms and Bank policy. Performs secondary review on all maintenance performed by other processors as a result of requests from other departments or errors found
• Maintains collateral accounts to reflect proper collateral control; Utilizes the Collateral Tracking system to track and follow up on any identified exception items for Mortgage loans. Accurately creates Uniform Commercial Code (UCC) filings with appropriate state for new Mortgages when applicable. Assures that proper coding is entered in the Banking system to accurately file mobile home liens through an electronic filing system; Research and re-file mobile home liens as necessary.
• Assist with quarterly and/or annual CRA and HMDA data scrubs, to allow for proper reporting utilizing Banking software for government reporting requirements. Prepare and process required Third Party documentation for loans sold to investors such as Freddie Mac, FHA, SONYMA, etc. Maintains multi-collateral file for weekly file submission to third party insurance vendor.
• Provides support to Bank staff on loan accounts responding to customer service phone calls and assisting with loan questions
• Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Job Related Qualifications – Education and Prior Experience:

Required:

• Education: High School Diploma or equivalent
• Prior Experience: 1+ years Customer Service experience

-OR-

Preferred:

• Education: Associate Degree in Business or related field
• Prior Experience: 1+ years Mortgage Operations

Competencies:

• High level of attention to detail with the ability to follow detailed procedures and ensure accuracy
• Strong organizational skills with the ability to multitask and prioritize to meet assigned deadlines
• Working knowledge of Microsoft applications with ability to learn new and existing Banking software
• Ability to work with all levels of staff and management
• Strong verbal and written communication skills
• Responds to requests for information in a timely and professional manner

Physical Requirements:

• Able to regularly sit for prolonged periods of time.
• Extensive computer usage is required.
• Moderate phone usage is required.

Benefits:

• Medical, Dental, and Vision Insurance
• Health Savings Account
• Flexible Spending Account(s)
• Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
• Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
• Tuition Reimbursement
• Employee Referral Program
• Wellness Reimbursement Program
• Star Volunteer Program
• Employee Banking and Financial Perks
• Flexible Hybrid Work Schedule
• Paid Time Off (PTO)
• Company Paid Holidays

This job description is not exhaustive. The Loan Servicing Processor 1 - Residential may be required to perform other duties as assigned. The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.