Loan Servicing Specialist (Indirect)

Bristol County Savings Bank; Taunton (MA); Hybrid; USD 30,000 - 37,000; Full time

Benefits offered by this job

401(k)

PTO

Tuition Reimbursement

Critical Illness Insurance

Disability Insurance

Job summary

Bristol County Savings Bank in Taunton, MA is seeking a Loan Servicing Specialist (Indirect) to join our Operations team on a full-time basis. The role handles consumer and mortgage loan servicing, collateral tracking, and customer inquiries in a structured, regulated environment.

The position requires 1–3 years banking experience and familiarity with COCC systems. It offers in-office and remote work options under our hybrid policy, with a focus on accuracy and regulatory compliance.

Qualifications

• High School Diploma or equivalent required.
• 1-3 years banking experience preferred.
• Prior COCC core system experience preferred.
• Excellent telephone, communication and customer service skills.
• Detail-oriented and well-organized with the ability to meet deadlines.

Responsibilities

• Processes and monitors vehicle titles and collateral activities.
• Processes loan servicing maintenance and/or modifications.
• Assist customers with loan questions via call center.
• Review payoff letters for accuracy and compliance.
• Support daily quality control of indirect auto loans and verify documents.
• Handle daily loan and deposit transaction reviews for compliance.
• Backup processing of payments and payoff transactions.
• Respond to customer inquiries and resolve servicing issues.
• Support discharges and payoff letters and remittance of insurances.
• Gather data for audits and participate in special projects.

Skills

Customer service

Communication

Attention to detail

Time management

MS Office

Education

High School Diploma or equivalent

Tools

COCC core provider system

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Loan Servicing Specialist (Indirect)

LOAN SERVICING Full Time Admin - Mid Level Taunton, MA, US

30+ days ago Requisition ID: 1892

Salary Range: $21.56 To $26.52 Hourly

Position: Loan Servicing Specialist (Indirect)

Job Type: Full Time

Location: Taunton Massachusetts

Department: Operations

Reports To: Consumer Loan Supervisor

OVERVIEW:

The Loan Servicing Specialist is responsible for performing a variety of loan servicing and clerical activities on the consumer and mortgage portfolios. This position will work with the Loan Servicing Analyst to track, perfect and release collateral associated with the Indirect Lending portfolio. The Loan Servicing Specialist will assist internal and external customers with any questions or concerns regarding the mortgage and consumer loan portfolios while adhering to the Bank's regulatory compliance objectives.

PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:

• Processes and monitors vehicle titles (electronic and physical). Research title issues to ensure timely receipt of missing titles. Reviews all collateral activities including perfection and termination/release
• Responsible for processing loan servicing maintenance and/or modifications.
• Responsible for assisting customers with questions or issues regarding their loan accounts received via inbound calls to the bank’s call center team.
• Review payoff letters for accuracy and compliance.
• Assists in processes collection activity on the Core system. Work in collaboration with the Collections Department.
• Assists with the daily quality control review of all new indirect auto loans. Reviews primary loan documents for accuracy and completeness and ensures proper collateral coverage for secured loans.
• Monitors and processes daily requests in the department email box to meet customers service stands and turn or distributes the request to the appropriate department/team member.
• Reviews account maintenance for all monetary and non-monetary transaction for loan and deposit portfolio to ensure accuracy and adherence to state and federal regulations and /or bank policy.
• Primary backup to the Loan Servicing Specialist in regard to processing payments and payoff transactions.
• Receive phone calls and assist members with miscellaneous loan service issues. Trouble shoots and resolves member inquiries.
• Responsible for consumer loan servicing, monitor daily loan reports, monthly monitoring reports, assist in the implementation of loan document storage and administration of the online payment details.
• Reviews department loan file setups. Verifies all loan documents for accuracy and completeness and ensures proper collateral coverage for secured loans.
• Responsible for preparing maintenance sheets and general ledger entries, as needed.
• Resource for all internal and external questions and issues related to the consumer and mortgage portfolios.
• Maintain a sound knowledge in regulation and law, loan accounting requirements and interpret, implement and administer company policies, procedures, manuals and systems to ensure proper controls are in place to maintain compliance with all applicable regulations.
• Ensure all loan servicing activities comply with federal, state and local regulations. Maintain up-to-date knowledge of industry regulations and best practices.
  • Primary Servicing Regulations RESPA, Mortgage Servicing, Payment Processing, Periodic Statements, Adjustable-Rate Mortgage Disclosures, Payoff Statements, Error Resolution and Request for Information. The Servicemembers Civil Relief Act (SCRA). Regulation O. State Law governing discharges and payoff requirements.

OTHER ACCOUNTABILITIES / RESPONSIBILITIES (Supporting Role)

• Process loan payments and reconcile payment discrepancies to ensure accurate posting to borrower accounts. Payments will be delivered through multiple channels (electronic payments, wires or physical checks).
• Process payoff transactions. Confirm sufficient funds to pay the loan in full. Return surplus funds and track, communicate and follow up on payoffs that are short funds.
• Prepare written payoff quotes, verify customer authorization and/or proper approval is received.
• Responds to customer inquiries orally and in writing including payoffs and discharges. Research and resolves servicing issues within scope of authority and expertise. Works with manager to ensure timely and accurate servicing practices.
• Assist with discharges, pay off letter and timely remittance of tax, hazard/flood and mortgage insurance payments
• Gathering data and documents for internal and external audits
• Assist with special projects for Loan Operations, as necessary.
• Other duties as deemed necessary.

POSITION REQUIREMENTS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.

• High School Diploma or equivalent
• 1-3 years of banking experience
• Experience with bank core provider system. Prior COCC experience preferred
• Strong telephone techniques, communication and customer service skills.
• Understanding products and services offered in the banking industry
• Attention to detail and well-organized.
• Reliable and professional.
• Must have a positive attitude and the ability to work in a changing business environment.
• Strong time Management Skills and ability to operate under demanding deadlines.
• Willingness and ability to learn new technology
• Must be proficient with Microsoft Office including Word, Excel, and Outlook.
• Ability to research and resolve problems
• Wide range of banking knowledge, or relevant experience within the banking environment and familiarity with bank operations, policies, and banking compliance issues.
• Familiarity with all loan servicing CFPB federal, state and local regulations. Include but not limited to RESPA, SCRA, Regulation O, Homeowners Protection Act and Flood Disaster Protection Act.

WORK ENVIRONMENT:

The work environment consists of typical office conditions with moderate noise level. Maintains a schedule consisting of in-office and remote work (Remote work mirrors company-wide requirement and is subject to change).

PHYSICAL QUALIFICATIONS:

Candidate must have the physical ability to sit, stand, walk, talk and hear. Must be able to lift up to 10 pounds. Must have the ability to adjust focus.

INDEPENDENT ACTION:

Performs work independently within scope of established guidelines and practices. Consults with escrow team and supervisor when clarification or exception may be required.

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Any physical demands or work conditions 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.

• 401(k)
• Paid Time Off (PTO)
• Tuition Reimbursement

Begins first of the month following date of hire:

• Critical Illness Insurance
• Disability insurance including LIFE, Long-term disability

Bristol County Savings Bank is an Equal Opportunity Employer and is committed to a diverse workforce. The Bank considers applicants for employment without regard to race, color, sex, sexual orientation, national origin, age, genetic information, veteran status, disability or membership in any other protected class as defined by law.