Sr. Loan Servicing Specialist (Mortgage/Consumer Loan Servicing)
- Salem Five Insurance
- Salem, MA
Job Description
This position requires the ability to work in the Salem, MA offices.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
- Responsible for assisting with all customer inquiries and requests through all means including the internal ticketing system, contact center and retail branches to ensure prompt response and follow through; responsible for research and customer contact.
- Responsible for execution of all residential and consumer servicing functions, including: quality control of new installment loans and residential mortgage loans; processing payments and advances; issuing accurate statements and notices including rate change notifications; maintaining and adjusting interest rates as required; responding to customer inquiries and requests; assisting with escalated customer issues and working with the complaint/legal department toward dispute resolution; maintenance to customer, account, or transactional records; maintenance to official loan files; assisting with notice of error and requests for information; processing of mortgage loan payoffs; assisting with requests for partial release, trust transfer, easements, partial taking by eminent domain, subordinations, or assent to amend master deed according to secondary market guidelines; assisting with loan modifications; assisting with insurance loss draft program for hazard / flood insurance; first level accounting reconcilement; assisting management with audit responsibilities.
- Ensure department is in compliance with all regulatory requirements including CFPB, Dodd Frank, Reg Z, RESPA, GLBA, Investor guidelines and department policies and procedures.
- Monitor work of designated personnel (consumer/residential) personnel in Loan Operations. Ensure that work is completed in a timely manner. Serve as backup to staff on vacation, during vacancies, illness, etc.
- Monitor JIRA Help Desk to ensure tickets are completed accurately and within the expected time frame.
- Audit the performance of system maintenance on accounts to ensure data integrity.
- Assist and participate with annual Business Continuity Plan.
- Assist Management with ensuring appropriate procedures for all residential and consumer servicing functions in compliance with all applicable regulations and laws. Responsible for analyzing existing process to identify areas for operational efficiency using technology and automation. .
- Assist with implementation of strong control environment and disciplines, including: the development and maintenance of written operating procedures for all daily, monthly, quarterly, and yearly loan servicing tasks. Define and implement controls to ensure: duties executed accurately and as scheduled, data quality on systems of record, and compliance with bank policy and laws and regs.
- Closely supervise servicing of consumer loans (overdraft, HELOC, student loans) to ensure documentation and system set-up are accurate and meet compliance requirements.
- Oversee processing of payoff desk and discharges to ensure timelines are met and accuracy is maintained.
Benefits/Incentives: We offer a comprehensive benefits package designed to support your well‑being and success, including medical, dental, and vision coverage; Flexible Spending and Health Savings Accounts; 401(k) matching; and tuition reimbursement. You will also enjoy additional perks such as our employee referral program, annual holiday reception, summer family outing, and more.
Salary Range: $60,000 - $75,000
The pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role. We may ultimately pay more or less than this range. Employee pay is based on factors like relevant education, qualifications, certifications, experience, skills, seniority, location, and performance. This range may be modified in the future.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk; sit; use hands to finger, handle, or feel; and reach with hands and arms. The employee is occasionally required to climb or balance; stoop, kneel, crouch, or crawl; and taste or smell. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.
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