Loan Services Representative/Collector

Fall-River-Municipal-Credit-Union-1; Fall River (MA); On-site; USD 42,000 - 56,000; Full time

Job summary

Fall River Municipal Credit Union is seeking a Loan Services Representative/Collector to support members with loan servicing, payments and billing inquiries in the Lending Department.

The role involves reviewing files for policy and regulatory compliance, maintaining loan records, handling escrow and insurance tasks, and supporting collection efforts, including notices and processing repossessions as needed.

Responsibilities

• Provide loan service support to all members.
• Resolve questions and complaints to resolve billing and payment discrepancies; recommend corrective action where appropriate.
• Review system reports and perform loan servicing functions including reviewing loan files for compliance with policy and regulations.
• Prepare reports of exception items and maintenance issues and verify corrective action occurred.
• Maintain recorded documents and original loan notes; verify proper entry of loan information in the Core System.
• Remit and track recording documents for perfecting collateral liens; track insurance through third parties.
• Process Escrow payments and conduct Escrow Analysis; maintain records of collection activity on delinquent accounts.
• Assist with overdraft program; support collection efforts including records of collection activity and evidence of notices.
• Process collection payments and recovery amounts; handle repossessions and foreclosures; prepare collection and overdraft reports.
• Comply with all applicable federal, state and local regulations; maintain knowledge of rules.

Job description

Description

POSITION TITLE: Loan Services Representative/ Collector

DEPARTMENT: Lending

POSITION FUNCTION

Under the general supervision of the Consumer Lending Manager and Loan Services Supervisor, performs a variety of duties related to the servicing of all consumer, business and mortgage loan products and provides collection support as needed.

ESSENTIAL FUNCTIONS:

1. Provide loan service support to all members.
2. Resolve questions and complaints to resolve billing and payment discrepancies; recommend corrective action where appropriate.
3. Review system reports daily, weekly, monthly or as instructed by the Loan Services Perform loan servicing functions to include:
4. Review loan files for compliance with Credit Union policy and state and federal regulations.
5. Prepare reports of exception items and maintenance issues and verify that corrective action has occurred as necessary.
6. Maintain recorded documents and original loan notes.
7. Verify proper entry of loan information in the Core System
8. Remit and track all recording documents for perfecting collateral liens.
9. Track homeowners and vehicle insurance policies through the applicable third parties
10. Process Escrow payments for real estate taxes and conduct Escrow Analysis
11. Maintains accurate records of collection activity on delinquent accounts, including all action taken, record dates, times and synopsis of discussions.
12. Assist with administering the Credit Union's overdraft program.
13. Support collection efforts to include:
14. Maintain accurate records of collection activity on delinquent and charged off share and loan accounts, including all action taken, record dates, times, and synopsis of discussions.
15. Review mail log to verify receipt of promised amounts.
16. Send and record evidence of collection notices and letters sent to debtors.
17. Process collection payments and recovery amounts.
18. Process repossessions and foreclosure.
19. Prepare collection and overdraft reports as instructed.
20. Complies with all applicable federal, state and local regulations.
21. Maintain job knowledge and skill level needed to meet the requirements of the position

ADDITIONAL RESPONSIBILITIES

• Perform all other necessary duties, as required for Loan Services
• Assist in any area of the Loan Services Department as required by the Loan Services Supervisor or Consumer Lending Manager.
• Maintains a required level of quality and quantity of work.
• Works within procedural limits of position.
• Ensure credit union confidentiality.
• Participate in educational conferences, seminars and workshops to maintain knowledge of federal and state rules and regulations

PHYSICAL DEMANDS:

1. Hand dexterity required to operate computer terminal and/or related equipment.
2. Eye coordination required to operate computer/teller terminal.
3. Sitting at desk or computer workstation for periods of time.
4. Travels to Credit Union facilities/locations as required.
5. Bending and stretching in work area.
6. Speak and listen to members and explain credit union services.

This position description covers the more prominent duties performed, and is not limited to other work duties that may be assigned.