at HOME STATE BANK NATIONAL ASSOC. in Crystal Lake, Illinois, United States
Job Description
Loan Servicing Specialist:
The Loan Servicing Specialist position will perform a variety of duties related to servicing bank owned and investor-owned loans in accordance with Bank and investor guidelines. Employee may not perform all the tasks listed below daily but is expected to know each of the functions to ensure depth of expertise within the department. Tasks must be completed accurately, timely and professionally to ensure prompt and professional service to internal and external customers and in compliance with investor and regulatory guidelines. Looking for 3 years previous customer service experience within loan related field. Knowledge of Investor Requirements and Reporting (FNMA, FHLB, DPP) is preferred.
- Board new loans and leases to the systems timely and accurately using available interfaces.
- Manage payment of hazard insurance escrows to ensure payments are accurate and timely. * Monitor hazard insurance and real estate taxes for non-escrow accounts to ensure appropriate and continuous coverage.
- Assist with ongoing account maintenance requests or validation as needed.
- Answer telephone and respond to email assisting customers and colleagues with routine and complex inquires, including but not limited to payments, escrow, insurance claim loss draft, statements, escrow analysis, credit reporting, ACH and all other loan details.
- Administer telephone payment requests as well as loan and lease payments received directly.
- Review data input for new loans boarded by others and file maintenance items completed by others to ensure 100% accuracy.
- Complete payoff statements, payoff transactions, title and lien releases according to Bank and investor guidelines.
- Create collateral file, secure in vault, index & image documentation, and QC of imaged files.
- Request collateral from document custodian and/or remove & return collateral from secured inventory.
- Ensure daily and monthly updates/reconciliation to MERS along with removal of MERS after payoff of loan.
- Assist with audit deliverables and documentation needed.
- Begin and increase knowledge and skillset for processing investor reporting.
- Participate with loan delinquencies, establish reason for default, create payment arrangements, referrals to foreclosure, bankruptcy, or other legal/default assistance needed.
- Process retail loans including HELOC’s and second mortgages. *
