Job Type: Full-time
Location: Parsippany, NJ
Summary:
The Loan Servicing Specialist is responsible for performing a wide range of processing functions to support the accurate and efficient servicing of the organization’s loan portfolio. This role ensures compliance with regulatory requirements and internal policies while delivering exceptional service to internal and external stakeholders.
Key responsibilities include performing all processing functions in the department, including tax escrow management and proof of tax payments, handling insurance policies and disbursements, conducting loan boarding and quality control reviews, processing loan payoffs, and managing the return of documents for paid-in-full loans.
The ideal candidate will have strong attention to detail, excellent organizational skills, and the ability to manage multiple priorities in a fast-paced environment.
Primary Responsibilities
The Loan Servicing Specialist performs all processing functions in the department, including tax escrow and proof of tax payments, insurance policies and disbursements, loan payoffs and return documents on paid in full loans
Investigates and resolves customer inquiries and disputes on late payments, annual statements, escrow analysis, credit reporting, etc.
Preparation and processing of payments to insurance agents for payment on accounts requiring PMI, flood and hazard insurance. Undertakes necessary steps for removal of PMI insurance as required or requested by mortgagor.
Updates insurance records and establishes force placed insurance, as needed, on mortgaged properties
Processing construction loan advances on the COCC core system
Processing loan account modifications
Set up automatic funds transfer (ACH and Autopay) for monthly loan payments as requested and authorized by borrower(s) along with resolving returns or rejected items
Boarding new Residential and Consumer loans to the COCC core system
Verifies data input on newly issued loans for quality control purposes
Assists in reviewing various daily and monthly reports including maintenance, unapplied, etc.
Assists in special projects and assignments conducted within the department
Acts as a teacher to less experienced staff by training and assisting on matters related to various loan servicing functions and training of COCC core system
Works with other departments to ensure parallel efficiency to ensure optimum customer service
Attend seminars, webinars, meetings and participate in Bank events as needed or upon request
Performs other duties as assigned
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.