Loan Servicing Specialist

Priority Dispatch Corp.; Fenton (MI); On-site; USD 42,000 - 66,000; Full time

Job summary

Priority Dispatch Corp. in the United States is seeking a Loan Servicing Specialist to handle escrow administration, lien management and complex loan servicing tasks. You will balance DDA’s and GLs and assist Accounting with transaction research to ensure accurate posting and reporting.

You will oversee escrow disbursements, PMI and insurance changes, and post-close maintenance across loan types. The role requires strong communication, attention to detail, and adherence to BSA/USA PATRIOT Act

Qualifications

• High School Diploma or GED required.
• Minimum of two years retail banking experience.

Responsibilities

• Oversee the process of maintaining and balancing loan servicing DDA’s and GLs, with transaction research support for Accounting.
• Manage escrow portfolio including reports for error resolution and annual analysis.
• Oversee escrow disbursements for taxes, insurance, PMI, and other items.
• Handle PMI maintenance and cancellation processes; review cancellation eligibility and counsel borrowers.
• Oversee lien release processes, UCC terminations, and related filings.
• Prepare and publish regular reports; resolve complex system processing issues.
• Answer inquiries via phone or email from internal/external customers and vendors.
• Perform post-close maintenance: payments, auto debits, address changes, payoff processing.
• Collaborate with third-party vendors to improve servicing efficiency.
• Comply with Bank Secrecy Act and USA PATRIOT Act; report potential violations.

Skills

Written and oral communication

Attention to detail

Time management

Presentation skills

Education

High School Diploma or GED

Job description

Loan Servicing SpecialistNon-Exempt – Grade Level 4Equal Employment OpportunityCorporate Values & Mission“Provide superior service, quality advice and show our utmost respect to everyone we meet.”General SummaryHandles various loan servicing processes and functions, including escrow administration, insurance tracking, lien continuations and releases, account reconciliation, and reporting. Handles the more complex customer service issues related to loans.Reports To: Loan Servicing Team LeadEssential Duties and ResponsibilitiesOversee the process of maintaining and balancing loan servicing DDA’s and GLs, providing administrative assistance to Accounting with transaction research when requested.Oversees the management of the escrow portfolio, including; monitoring reports for escrow error resolution (ex. large negative escrow balances, escrow accounts with no addenda’s, escrow accounts with no annual analysis, etc.), monitoring system generated Excess Escrow Refund Checks, monitoring system generated annual escrow analysis reports, maintaining active Tax Log, and maintenance of Vendor portfolios.Oversee the escrow disbursement process for all loans, including force place, property taxes, hazard/flood insurance, PMI, and miscellaneous other escrow items.Overseas all maintenance of escrow accounts, including escrow account recalculations, initiation or cancellation of escrow accounts post close, and escrow counseling with borrowers when necessary. Processes escrow disbursements for all loans, including property taxes, hazard/flood insurance, PMI, and miscellaneous other escrow items.Oversee all PMI maintenance, including cancellations. Reviews loans for cancellation eligibility and counsels’ borrowers on options. Orders appraisals for cancellation recommendations and processes approved cancellations with MI companies, removes PMI from loans.Oversee the insurance cancellation tracking process, including force placing coverage as needed.Overseas the lien release process, including removing paid off loans from Tax Service database, removing paid off loans with escrow from Tax Log, filing UCC terminations, preparing vehicle lien releases, preparing and filing mortgage and assignment of leases and rents discharges, and issuing payoff refunds.Prepares and publishes various reports on a regular basis.Research and resolve complex system processing issues and errors.Answer requests and inquiries that are received via phone or email from internal and external customers, or third-party vendors and companies.Processes all loan type post close maintenance, including payment error resolution, auto debit setup and changes, change of address forms, payoff letters, payoff transaction processing, ACH payment requests, system code update requests, and name changes.Works with third party vendors to identify efficiencies in servicing processes.Additional responsibilities as assigned.Be familiar with and comply with the provisions of the Bank Secrecy Act and USA PATRIOT Act as they relate to the functions of this position. Complete all required reports related to those acts and report any observed violations or potential violations of those acts to a supervisor or other appropriate bank officer.Be familiar with and comply with all federal and state banking regulations as applicable.QualificationsTo perform this job successfully, an Individual in this position must be able to perform each of the above essential duties satisfactorily and exhibit the values of the Company. In addition, the requirements listed below are representative of the knowledge, skill and/or ability required.Experience and/or EducationHigh School Diploma or GEDMinimum of two (2) years’ retail banking experienceCompetenciesIn addition to the Corporate Core Competencies, individuals in this position are expected to exhibit the following:Written and Oral Communication – Effective written and oral communication skills required, with the ability to interface with Internal and external stakeholders and community partners. Has group presentation skills.Quality – Demonstrates accuracy and thoroughness; monitors own work and the work of others to ensure quality.Quantity – Meets productivity standards; completes work in a timely manner; strives to increase productivity; works quickly.Technical Skills – Assesses own strengths and weaknesses; pursues training and development opportunities; strives to continuously build knowledge and skills; shares expertise with others.Dependability – Follows instructions; responds to management direction; takes responsibility for own actions; keeps commitments; commits to long hours of work when necessary to reach goals; completes tasks on time or notifies appropriate person with an alternate plan.Adaptability – Adapts to changes in work environment; manages competing demands; changes approach or method to best fit the situation; able to deal with frequent change, delays or unexpected events.Initiative – Undertakes self-development activities; takes independent actions and calculated risks; looks for and takes advantage of opportunities; asks for and offers help when needed.Physical Demands and Work EnvironmentAbility to work in an office environment which may include many hours of computer and telephone usage. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.This position description is not to be construed as an exhaustive statement of duties, responsibilities, or requirements. Employees may be required to perform any other job-related instructions as requested by their supervisor, subject to reasonable accommodation.