Senior Loan Servicing Specialist

Tremont Credit Union; Milton (MA); On-site; USD 60,000 - 80,000; Full time

Job summary

Tremont Credit Union is seeking a Senior Loan Servicing Specialist to manage life-of-loan servicing for residential and consumer loans in Massachusetts, ensuring compliance with internal policies and applicable regulations.

You will process payoffs, funds, PMI handling, and related reporting, requiring at least three years of experience and strong Microsoft Office and communication skills.

Join a community-focused team committed to member education and accurate, timely servicing.

Qualifications

• At least three years of related or direct experience.
• Proficiency with Microsoft Office and software used by TCU.
• Clear and effective written and oral communication.
• Ability to evaluate information and apply critical thinking to solve problems.

Responsibilities

• Fund and process new residential loans and QC scan files.
• Process funds for custodial accounts and prepare wires; send closed loan files to FHLB.
• Provide loan payoff quotes and process payoffs by wire and check.
• Review reports on LTV, PMI loans, HELOC milestones and final payments.
• Convert HELOCs to repayment and send notices as applicable.
• Submit PMI MILAR reports and monitor flood insurance requirements.
• Update Treasury indexes and monitor servicing communications.
• Process monthly Mass Save reports and payments.
• Review and mail servicing department communications and requests.

Skills

Microsoft Office

Communication

Critical thinking

Education

High School diploma or GED

Job description

Company Description

Tremont Credit Union is a community-focused cooperative financial institution that has been supporting financial well-being since 1952. Serving individuals and families in Boston and Eastern Massachusetts, including Norfolk, Suffolk, and Middlesex Counties, the credit union operates three full-service branches in Boston and on the South Shore. Tremont Credit Union offers personalized financial services and guidance designed to help members reach their financial goals. The organization emphasizes education, member support, and a collaborative approach to financial success.

Job Summary

The Senior Loan Servicing Specialist is responsible for performing life-of-loan servicing functions on residential and consumer loans including portfolio loans and servicing retained investor loans. All responsibilities are to be performed in compliance with TCU standard operating procedures, TCU policies, applicable state and Federal regulations and applicable state and federal law, as well as according to TCU's Core Values and Performance Standards.

• Fund and process new residential loans. QC and scan residential loan files.
• Process funds for FHLB custodial account and prepare wires. Package and send closed loan files to FHLB.
• Provide loan pay-off quotes. Process loan pay-offs by wire and check, process discharges, and close out paid off consumer loan files and collateral releases.
• Review and act on Insight reports regarding LTV on PMI loans, loans reaching final payment, and HELOCs at end of draw period.
• Convert HELOCs to repayment. Send notices as applicable.
• Review Miniter invoices and upload weekly Miniter data files.
• Submit the PMI MILAR report to MI company.
• Ensure ongoing compliance with all regulations and procedures relative to flood coverage validation and changes based on revised maps, PMI cancellation, escrow cancellation and forced placed insurance.
• Monitor and act on daily messages from Miniter and CoreLogic regarding insurance and tax servicing. Pay hazard, flood insurance for mortgage loans.
• Pay life & disability premium payments out of escrows for consumer loans.
• Process approved loan subordinations and modifications, including payment frequency changes.
• Update Treasury indexes weekly.
• Review and mail ARM rate adjustment notices.
• Process monthly reports and payments for Mass Save.
• Monitor, answer, and route Servicing department's US mail, email, Kasasa notifications and member service calls. Complete loan verification requests and forward payments for processing.
• Provide back-up review of reports from Insight; record and communicate findings, act as needed, and refer issues to others as directed.
• Other duties related to TCU's operations or mission as assigned.

Required Experience & Skills

• At least three years of related or direct experience
• Proficiency with Microsoft Office, or software, applications, and SaaS currently used by TCU and assigned to this position
• Can perform responsibilities accurately and timely with moderate and reasonable supervision, with minimal reminders and corrections
• Clear and effective written and oral communication
• Ability to evaluate sources of information and apply critical thinking to solve problems

Required Education, Training, Certifications or Licensing

• High School diploma, GED or foreign country equivalent
• Continuing industry and compliance training on-site and remote.

• Tremont Credit Union provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), national origin, age (40 or older), disability or genetic information; in addition to (MGL C 151b) mental illness, retaliation and active military. Tremont Credit Union complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities and to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.