Loan Servicing Specialist

Description

Summary

To provide consumer loan support for all frontline staff, all areas of Lending, dealerships, and directly to our membership for all related functions of loan servicing on booked loans.

Essential Functions

• Answer phone calls to provide frontline staff support .
• Process payoff sent via mail to the Credit Union.
• Work with our third-party title vendor and California DMV to assist with releasing vehicle titles.
• Assist staff with the preparation of title and registration documents.
• Post general ledger (GL) transfers, payoffs and DMV related transactions on collateralized loans.
• Maintain reports/logs for GL balancing, DMV transaction receipts, payoffs, missing titles and title work, unperfected liens, and others as needed for DMV processing reporting and tracking.
• Review all title documentation presented from funded consumer loans on collateralized loans for completeness and accuracy including: DMV tax and fee calculations and employee DMV documentation received through all channels.
• Maintain reports of outstanding unperfected titles 45 days and older and status of each. Report to supervisor escalated missing or problem title situations.
• Maintain reports to ensure accuracy and completeness of information sent for new and paid off loans.
• Communicate with SCCU staff, members, DMV representatives, our third-party title and registration vendor, and dealership staff regarding the resolution of title issues, incorrect title fees collected, unperfected liens, and loan payoffs.
• Review and audit a percentage of indirect loan files and all membership applications for accuracy and completeness.
• Calculate income based on internal guidelines and policy.
• Review daily, weekly, and monthly reports from core and/or vendors and perform any follow up needed.
• Assist frontline and back office staff with processing loan and payment corrections .
• Assist frontline and back office staff with processing loan adjustments, extensions, re-writes, etc.
• Work with insurance agents to process letter of guarantee requests.
• Process certified mail for Consumer Lending Department.
• Stay abreast of title and UCC regulations.
• Ensures DMV packages are complete and correct before submitting for auditing.
• Answer lending questions on funded loans from members, staff, and dealership partners.
• Approximate working time is spent as follows:
• 40% Pay offs & Release titles, assist DMV Clerks as needed.
• 20% Communications (phone, email, LOS) with dealerships, SCCU BDM’s, staff.
• 20% Performing loan maintenance.
• 20% Auditing funded indirect files and signature cards.
• Comply with all regulatory requirements and internal security/information security practices.
• Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support to risk management and overall safety and soundness.
• Must, at all times, demonstrate cooperative behavior with colleagues and supervisors.
• Other duties as assigned.
  
  

Requirements

Required Skills and Abilities

• Good communication skills (written and verbal) with excellent telephone etiquette.
• Working knowledge of Microsoft Office products, especially Word and Excel, and calculators.
• Must possess good organizational skills with the ability to file accurately and quickly.
• Ability to work well under pressure with multiple projects and deadlines.
• Must be able to work accurately and efficiently in a fast-paced environment and adhere to a flexible schedule.
  
  

Education And Experience

• High school diploma or equivalent.
• Minimum of 1 year of financial institution experience with a minimum of 1 year in a lending capacity.
• Must have a working knowledge of loan policies and procedures.
• Knowledge of SCCU products and services
  
  

Physical Requirements And Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential function of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Prolonged periods of sitting at a desk and working on a computer – 7 to 8 hours per day.
• Light lifting, carrying, pushing and/or pulling objects up to 25 lbs.
• Intermittent walking and bending.
• General office environment: works generally at a desk in a well-lighted, air-conditioned cubicle/office, with moderate noise levels.
  
  

The preceding list of duties does not include all tasks and responsibilities that may be required with this position. Additional tasks may be assigned, as departmental and operational needs require.