Loan Servicing Specialist I or II

Socket.dev; Salem (OR); On-site; USD 52,000 - 72,000; Full time

Job summary

Socket.dev is seeking a Loan Servicing Specialist in Salem, Oregon, to support a credit union’s lending operations with accuracy and initiative. The role covers servicing, compliance, and member service, collaborating with a team that values precision and continuous improvement.

The ideal candidate has experience in loan servicing and customer relations, with an understanding of BSA/AML policies and Oregon-specific requirements.

Qualifications

• Associates degree or equivalent professional experience.
• 1-3 years in loan servicing or financial services.
• 1-3 years in a customer relationship role.
• Must possess a valid Oregon driver's license.
• Bondable as required.

Responsibilities

• Follows regulatory and policy requirements (BSA, OFAC, AML) and related policies.
• Provides superior member service and resolves issues promptly.
• Makes sound loan servicing decisions based on policies.
• Prepare and process loan payoffs and lien releases.
• Process mortgage modifications and home equity subordinations.
• Handle loan skips, tracking reports, processing adjustments.
• Assist with title administration (DMV and Oregon Marine Board).
• Assist with escrow accounts and loan accounting tasks.
• Monitor and reconcile reporting related to mortgage and loans.

Skills

Communication skills

Analytical skills

Time management

Attention to detail

Confidentiality

Relationship building

Accounting basics

Education

Associate degree

Job description

Description

Join a team dedicated to helping members achieve financial success while supporting the strength and stability of the Credit Union. As a Loan Servicing Specialist, you'll perform a variety of loan servicing and operational functions that keep lending processes running smoothly and accurately. This role offers the opportunity to build expertise across lending, compliance, and member service while collaborating with a team that values accuracy, initiative, and continuous improvement.

ESSENTIAL FUNCTIONS

1. Follows regulatory and policy requirements, which include those efforts in compliance with the Bank Secrecy Act (BSA), Office of Foreign Asset Control (OFAC) and Anti-Money Laundering (AML) Regulations, identity Theft Red Flags and other compliance related Policies.
2. Provides superior member service to members, fellow staff, and external providers. Ensuring members receive professional service and that member issues are resolved promptly, with follow through to resolution.
3. Makes sound decisions based on loan servicing and manufactured home loan policies and guidelines. A moderate amount of professional discretion and autonomy is expected in making decisions related to loan servicing responsibilities and duties.
4. Assist with the following loan servicing duties and tasks:
   • Prepare and process loan payoffs and lien releases.
   • Prepare and process mortgage modifications and home equity subordinations.
   • Processing loan skips.
   • Monitoring lending reports and processing maintenance changes.
   • Complete and process loan adjustments and corrections.
   • Credit bureau file disputes and corrections.
   • The Collateral Protection Insurance Program.
   • Preparing and submitting files to collection agencies.
   • HMDA tracking and validation. (II position)
   • Insurance claims. (II position)
   • FHLB (sold mortgage loan) reporting, remitting, and reconciling activities. (II position)
5. Assist in maintaining the organization's titles (DMV and Oregon Marine Board). Process title changes, lien releases, and title releases after payoff.
   • Includes mailing titles upon payoff to appropriate dealer, financial institution, insurance agency, or individual.
6. Assists with all duties associated with the administration of business, mortgage, home equity, indirect manufactured home loan, and FHLB mortgage loan escrow account activity including: (II Position)
   • Escrow account set up, monitoring, and tracking of all escrow items.
   • Annual account analysis.
   • Monthly hazard insurance, flood insurance, property tax, and private mortgage insurance tracking, updating, processing, and disbursal to the appropriate vendor.
   • Private mortgage insurance activation, monitoring, and releases.
7. Assist with maintaining the organizations indirect manufactured home loan titles, including tracking of outstanding titles, lien releases, and title releases after payoff.
8. Responsible for the administration of the interest rate change activity for mortgage and business loans including:
   • Daily tracking of interest rate index changes.
   • Reviewing upcoming monthly rate change reports for accuracy and timing.
   • Produce and review interest rate and payment change notices.
   • Research and resolve interest rate change errors or exceptions.
9. Understands and complies with all laws, regulations, policies, programs, and procedures related to loan servicing and maintenance.
10. Supports inter and intra departmental operations and workflow by providing assistance, information, and cooperation.

OTHER JOB FUNCTIONS

1. Contribute to attaining Credit Union objectives by performing other duties as assigned.
2. Contribute to process improvement by continually assessing assigned tasks and communicating potential solutions.
3. Participate in committee and team projects as assigned by the Loan Servicing Manager.

Requirements

KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED

1. Excellent written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person, and over the phone.
2. Strong analytical, time management and organizational skills and the capacity to integrate diverse objectives with a high level of accuracy and attention to detail.
3. Ability to retain a broad knowledge of tasks performed in the department.
4. Ability to remain flexible in order to adapt to changes in work environment; take initiative; good problem-prevention, and problem-solving skills.
5. Ability to maintain confidentiality of sensitive information.
6. Ability to build relationships and work with co-workers, members and outside agencies professionally and tactfully.
7. Knowledge of basic accounting principles.
8. Working knowledge of Credit Union products and services.

QUALIFICATIONS

1. Associates Degree or equivalent professional experience with business related or industry specific training (i.e., accounting, lending, and finance).
2. 1-3 years of progressive financial industry experience in loan servicing, lending and/or financial services or the equivalent combination of training and experience. (3-5 years for the II role)
3. 1-3 years in a customer relationship role.
4. Must possess a valid Oregon driver's license.
5. Must be bondable.