Loan Servicing Specialist

Bank of Sun Prairie; Town of Sun Prairie (WI); On-site; USD 65,000 - 75,000; Full time

Job summary

Bank of Sun Prairie seeks a Loan Servicing Specialist to support consumer, mortgage, and commercial lending. This role mainly handles Freddie Mac loan servicing, balances G/L accounts, and researches loan activity to resolve issues.

You will assist with tax and escrow disbursements, review loan statements, and ensure compliance with evolving lending requirements while providing strong customer service.

Qualifications

• Experience in loan servicing and G/L balancing.
• Strong customer service and problem resolution skills.
• Familiarity with Freddie Mac loans and secondary market servicing.

Responsibilities

• Receiving funding, activating the loan in the system, and making G/L entries for new loans.
• Ongoing loan maintenance and review of recently booked consumer, residential and commercial loans for accuracy.
• Balancing loan related G/L accounts daily and processing loan payments.
• Reporting on delinquencies and reviewing daily reports for accuracy.
• Processing renewals, extensions, and modifications on all types of loans.

Skills

Accurate Data Entry

Problem solving

Bank regulations knowledge

Interpersonal skills

Time management

Organizational skills

Attention to detail

Computer skills

Customer service

Tools

Abrigo

E-Oscar system

Job description

Description

The Loan Servicing Specialist supports consumer, mortgage, and commercial lending functions in a variety of ways. The primary responsibility of this position is to perform a myriad of tasks involved with servicing Freddie Mac Loans. The Loan Servicing Specialist also balances G/L accounts, performs research and maintenance on loan accounts, and supports lending staff with related loan account problem resolution. This position also fields inquiries from customers and provides exceptional customer service in responding to inquiries that help enhance customer relationships. The Loan Servicing Specialist is expected to leverage technology to its fullest extent and be constantly looking for ways to increase departmental efficiency.

Requirements

PRIMARY RESPONSIBILITIES:

• Receiving funding, activating the loan on the system, and making associated G/L entries on new loans
• Performing ongoing loan maintenance
• Handling of incoming correspondence and miscellaneous FHLMC problem resolution
• Balancing of customer payments remitted monthly
• Reporting on delinquencies
• Uploading of daily mortgage transaction information
• Booking consumer loans
• Tracking car loan titles in Abrigo
• Scanning in documents for electronic storage
• Reviewing recently booked consumer, residential and commercial loans for accuracy

Provides general loan operational support by:

• Balancing loan related G/L accounts daily
• Performing loan account maintenance and research
• Processing sold participation payments and relaying payment info to participants
• Editing recently booked consumer and residential loans
• Reviewing daily reports to ensure accuracy of previous day’s work
• Preparing corrections for the loan non-post sheet
• Providing daily interest rates
• Assist processing SBA payments
• Processing renewals, extensions, and modifications on all types of loans
• Applying loan payments, processing loan payoffs and establishing auto-payments
• Disbursing monthly bulk Private Mortgage Insurance payouts
• Reviewing customer loan statements prior to mailing
• Assisting with real estate tax and hazard insurance escrow disbursements for all types of real estate secured loans
• Making credit bureau corrections in the E-Oscar system
• Manages regulatory compliance by:
• Keeping abreast of changing federal, state, and secondary market lending requirements
• Attending training of secondary market servicing standards
• Working closely with Compliance as related issues arise
• Keeping informed of Bank policies / procedures, ensuring customer information security is a top priority.

SECONDARY RESPONSIBILITIES:

• Assists with special audits as requested
• Attends meetings as requested
• Other duties as assigned

SKILLS:

• Accurate Data Entry
• Proactive in finding answers to questions and solutions to problems
• Knowledgeable of regulations and bank lending policies / terminology
• Good interpersonal skills
• Ability to work in a fast-paced environment with deadlines and priorities changing daily
• Effective organizational and time management abilities
• Pays attention to detail
• Proficient computer software skills

EEOC/ADA STATEMENT

The incumbent must be able to accommodate detailed work, problem solving, customer contact, math, language, verbal and written communications, analytical reasoning, stress, multiple concurrent tasks, and constant interruptions.

Bank of Sun Prairie is committed to the full inclusion of all qualified individuals. As part of this commitment, Bank of Sun Prairie, will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment. Colleagues and/or candidates should contact Human Resources with any questions or concerns.

WORKING CONDITIONS

This position is located in an office environment with artificial lighting and controlled heating/air conditioning. The position includes prolonged periods of working on a computer and repeating motions that may include the wrists, hands, and/or fingers. The incumbent needs to occasionally move about inside the office to access file cabinets, office machinery, etc.