Residential Loan Servicing Representative

Residential Loan Servicing Representative

The Residential Loan Servicing Representative performs a variety of activities in conformance with established bank policies, procedures and objectives while providing the highest level of service and responsiveness to customers and co-workers. Essential functions include:

• Setting up new residential mortgage, construction mortgage and equity lines of credit into core processing system promptly after closing & funding.
• Reviewing new loans booked by other staff members for accuracy and completeness.
• Maintaining a log of incomplete or missing documents and following up with the Attorneys' office and/or branch personnel to clear up the issue.
• Organizing new loan file for scanning and filing.
• Performing general ledger reconciliations daily and monthly for assigned accounts.
• Responding to verbal & written requests for loan payoffs from attorneys and customers.
• Processing payments and payoffs daily, completing required general ledger tickets under dual control and producing balance sheet at end of day.
• Receiving daily hazard insurance mail and reviewing the daily and weekly reports provided by our vendor for ongoing tracking.
• Maintaining report for Residential loans with flood insurance, ensuring that coverage is adequate and in force for the life of the loan.
• Responsible for the timely payments of real estate taxes for both Residential & Commercial loans. Working closely with Tax Service to maintain current data on their system and ours.
• Assisting with reviewing the periodic escrow disclosure notices and handling customer calls on the annual escrow analysis results.
• Processing re-amortization schedules, as a result of substantial principal curtailments.
• Working with the vendor to force place hazard or flood insurance when needed.
• Responsible for the payment of PMI premiums, escrowed hazard & flood insurance premiums to the third-party vendor.
• Monitoring and maintaining monthly rate changes for Adjustable Rate Mortgages. Sending notices to borrowers and responding to customer inquiries.
• Preparing regular and confirmatory mortgage discharges and related correspondence for paid loans to attorneys and/or borrowers.
• Performing monetary and non-monetary maintenance on covered loans under dual control.
• Performing any function within scope of authority and expertise to support department goals, as assigned by the manager.
• Handling a variety of internal and external residential loan servicing calls.
• Receiving incoming wires for loans purchased and preparing a funding sheet for manager's approval. Processing loan transfer transactions on Core Processor, on MERS and on People Soft. Ensuring that the Transfer of Servicing letters are mailed to Borrowers.
• Preparing outgoing wires for Investor remittances, funding of new loans and payment of real estate taxes via CoreLogic.
• May serve as the Receptionist for the Residential Lending area.

Job qualifications:

• Familiarity with investor reporting experience is preferred.
• 1-3 years of experience in Residential Lending preferred.
• Associates degree or equivalent relevant work experience.
• Must be detailed, organized and customer service oriented.
• Should possess intermediate technology skills, including knowledge of Word & Excel, and working with a core processor.
• Team player with a positive attitude.

The hourly rate range for the Residential Loan Servicing Representative is $26.50 - $28.85 per hour.

About Northern Bank & Trust Company

Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of over $3 billion with 12 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.