Loan Servicing Specialist

Location: Waterbury
Department: Operations
Hours: Full Time

VSECU – named, by Vermont Business Magazine, as one of the Best Places to Work in Vermont in 2017, 2018 and 2019 – is a credit union dedicated to improving the quality of life of all Vermonters.

Our vision is to inspire a movement that brings people together to empower the possibilities for greater financial, environmental and social prosperity. To excel at that, we need a patient, analytical Loan Servicing Specialist that consistently provides precise work output based on established guidelines and procedures. If our vision makes you smile, inspires you and makes you feel like you could move mountains; we encourage you to consider joining our team!

PRIMARY DUTIES & RESPONSIBILITIES:

  • Manage and/or assist with collateral duties by tracking receipt of titles, filing UCC continuations, and performing outreach to obtain a perfected lien. This may also include duties related to the release of collateral at loan payoff, such as release of vehicle titles, preparation of mortgage discharges, UCC and flood certificate terminations, and lien releases as appropriate.
  • Assist with numerous processes related to Collateral Protection Insurance (CPI). This may include oversight of the CPI vendor, approval of invoices, report review, billing, general ledger reconciliation, account maintenance, outreach to insurance companies and members to resolve issues, and research regarding force place insurance.
  • Handle various insurance claim functions such as letters of guaranty, claim filing, and processing of insurance claim proceeds. Oversee release of insurance funds to ensure that collateral is repaired to lender and Investor satisfaction. This may include the need to coordinate property inspections and order real estate appraisals.
  • Assist with a variety of insurance related duties such as submitting life insurance applications to the insurance provider, establishing accounts for debiting of insurance premiums, and performing monthly reconciliation and billing to support various insurance products.
  • Perform participation and investor servicing duties which include research, reporting, remitting and reconciliation related tasks for private investors, financial institutions, Fannie Mae and other secondary market investors.
  • Assist with the escrow process related to taxes and insurance including set-up, disbursements, reporting, reconciliation and analysis of accounts.
  • Assist with the credit reporting dispute process to ensure that all disputes are responded to within time frames allowed by regulation. This includes research and validation of disputed information, submitting any necessary corrections, preparing response letters to borrowers, and assisting with bankruptcy processing functions related to credit reporting.
  • Assist with Servicemember Civil Relief Act duties to include tracking of affected accounts, re-calculation of interest, system maintenance, and borrower correspondence.
  • Process requests for Partial Release (discharge) of Mortgage, real estate easement, and Subordination of Mortgage to include collection and review of all required documentation, ordering appraisals, and preparing a written recommendation to aid in the approval process.
  • Assist with various file maintenance quality assurance duties. This may include tracking of items and new accounts to ensure that documents are received, performing quality control review to verify document and system accuracy, and referring errors to the appropriate party for correction.
  • Review reports to support department processes and satisfy audit requirements.
  • Provide email and telephone support to internal and external members, perform account research, fulfill information and documentation requests, and resolve member issues.

JOB COMPETENCIES:

  • Excellent organizational, communication and writing skills.
  • Able to work under pressure to meet deadlines.
  • Ability to handle data, maintain accurate records and research account information.
  • Strong attention to detail.

EDUCATION & EXPERIENCE:

  • A high school diploma with one to three years’ experience with financial institution operations or similar work experience.
  • Comprehensive knowledge of Microsoft Office products and financial institution software.
  • Knowledge of lending practices and an understanding of collateralization processes.

VSECU’s normal business hours are Monday through Friday, 8:00am to 5:00pm. We offer a comprehensive benefits package including medical, dental and vision coverage, life and disability insurance, a strong retirement package with matching 401K contributions, tuition reimbursement, paid time off and paid volunteer time.

VSECU is an EOE.