Senior Loan Servicing Specialist

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Senior Loan Servicing Specialist

Full Time Branchburg, NJ, US

Salary Range: $27.77 To $35.00 Hourly

Financial Resources FCU has been designated one of the Best Places to Work in NJ since 2022! At FRFCU, we are "putting people first" and that starts with our employees! Come see why our team members have voted us for Best Places to Work in NJ!

Financial Resources is a not-for-profit federal credit union with locations in Somerset, Hunterdon, Middlesex, Union and Hudson Counties. With a history of serving our members for more than 100 years, we have grown to more than $650 million in assets serving more than 29,000 members with 6 public access branches and a team of 100 employees. We are available Nationwide!

Our Loan Servicing Department is recruiting for a Senior Loan Servicing Specialist to build and maintain successful relationships with members and employees of the Credit Union. This role continues to support the loan servicing functions of the credit union with additional responsibilities as to reporting, auditing, and assisting the VP Loan Servicing with their general responsibilities. The Senior Loan Servicing Specialist may also assist other Lending departments as needs arise as well as assist in training of department staff and new Credit Union Retail team members.

This position is located in Branchburg, NJ and will require on site work, 5 days per week, during the first 90 days of employment. After this, based on satisfactory work performance, you will qualify for our Work/Life Balance program with options to work in the office 3 days per week, remotely 1 day per week and have off 1 day every week. Welcome to our 4 day work week program!

We are looking for someone who exemplifies the following traits:

• Caring
• Initiative
• Ethics
• Job Knowledge
• Self-Development
• Teamwork
• Organizational skills
• Problem Solving
• Quality
• Communication

Some of your essential duties will include, but are not limited to:

Essential Duties

• Assist with department audits as it pertains to Loan Servicing.
• Review and research Loan Servicing, Consumer Lending and MBL General Ledger Reconcilements.
• Monitor card inventory with Fiserv.
• Update loan indexes in core system
• Oversee credit card fraud reporting
• Prepare monthly, quarterly and ad-hoc reports as requested.
• Assist VP Loan Servicing with coordinating, scheduling and providing team training sessions.
• Assist with new Retail team member training and well as ongoing Lending training sessions with the AVP Corporate Trainer
• Serve as back-up to MBL Loan Servicer as required
• Provide support to other Lending Departments as needed.
• Review and research daily exceptions in regards to incorrectly entered loan and payment information. Take corrective action and ensure information is properly posted
• Respond to GAP, Forced Placed Insurance and Debt Protection inquiries from staff and members
• Prepare loan pay off letters, mortgage cancellations for recording and UCC releases. Assist with mortgage subordinations when needed
• Review and coordinate mortgage servicing requests with 1 st mortgage vendor
• Process 1 st mortgage payments
• Research and resolve loan and credit card inquiries and problems as they arise
• Perform loan and credit card maintenance as needed
• Retrieve and review daily credit card reports
• Review missing collateral report and send collateral notices to members
• Assist with the preparation of special reports as requested by management. Review and document loan daily, weekly, monthly, quarterly and annual reports as requested
• Process MBP, GAP and Debt Protection cancellations and refund
• Process GAP and Debt Protection claims
• Process Forced Placed Insurance premiums and refunds
• Prepare Debt Protection reporting for CUNA
• Provide notices to members for expiring HELOC and PLOC limits; process requests to extend lines and/or modify accounts
• Review daily File Maintenance Activity and Reports
• Provide balloon notices to members as needed
• Process approved Financial Hardship modifications
• Perform Charge-off loan transactions and recoveries in core system
• Process Skip-a-Payment and Loan Checks as received
• Monitor real estate hazard and flood insurance documentation to ensure sufficient insurance coverage on Real Estate backed loans
• Record receipt of titles for new loans, verify lien is placed and file as per procedures
• Prepare title lien release letters, mark titles paid, conducts necessary research and obtains loan documentation for perfecting title liens as needed

Other Duties

• Perform filing, scanning, indexing and other general documentation retention tasks as directed
• Effectively manage daily workflow
• Demonstrate comprehensive knowledge of lending products, services and processes
• Provide an excellent member experience by relating well to the member, thinking and exercising sound judgement and acting responsibly in the member’s and the Credit Union’s best interest
• Respond to requests submitted by employees, providing professional, prompt, efficient and accurate service and information
• Keeps abreast of current NCUA/CFPB guidelines and other applicable state and federal laws and regulations. Attend seminars and/or training sessions relating to areas of responsibility

What we offer to our team members:

• Work Life Balance Programs that includes a 4 Day Work Week and Hybrid work environment after satisfactory completion of your training period
• A competitive salary
• Generous paid time off
• Health, dental and vision plans for employees and their families
• Health Savings and Flex Spending Accounts
• Paid Parental Leave Programs
• Short and Long-Term Disability Programs
• Company provided life insurance and low-cost supplemental insurance plans
• 401K with 100% employer match, up to 6%, after one year and potential for additional profit-sharing contributions
• Paid volunteer days
• Opportunities for career advancement with continuous learning and development
• Tuition reimbursement

We ask that you have:

• Requires at least three years of lending operations experience.
• Ability to work in a fast paced, high volume environment in which changing business needs dictate procedure changes.
• Effective communication, interpersonal and sound decision-making skills are required.
• Requires experience in the use of computer applications for loans and credit card loan processing - Experience with Fiserv DNA/COCC Insight and Fiserv Client Central and Card Console is preferred.
• Demonstrates a commitment to working effectively as a team and to ongoing self-development.
• Continually find opportunities for ongoing professional growth and learning.
• Proactively find ways to support the lending department’s goals and work collaboratively with co-workers.