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Loan Servicing Representative II

Company: East Cambridge Savings Bank
Location: Cambridge
Posted on: June 22, 2022

Job Description:

Job DescriptionPosition Title: Loan Servicing Representative IIDepartment: Loan ServicingGrade: 9Salary: $21.94 – 31.76/hr East Cambridge Savings Bank's Lending Division is actively recruiting for a Loan Servicing Representative II.Function:Under the direction of the Loan Servicing Manager, performs a variety of clerical and administrative tasks related to the servicing of consumer, commercial and mortgage loans.We are looking for a candidate with:

  • Minimum of 3 years banking experience and 1 year loan servicing required
  • Superior organizational, time-management and problem-solving skills
  • Excellent verbal and written communication skills
  • Team player with positive attitude and willing to work well with others
  • Ability to manage multiple priorities and meet deadlines
  • Working knowledge of Microsoft Word and ExcelEssential Job Functions:
    • Responsible for real estate tax disbursements and ensuring timely payments. Researches and resolves any tax discrepancies in coordination with the tax service vendor. Responsible for the set-up of new and refinanced tax service contracts, as well as for the cancellation of contracts for loans paid in full.
    • Responsible for new loan set up. Reviews loan note for accuracy and compliance with rate and general lending policy and guidelines; logs new loan information into Loan Register; verifies proceeds of loan balance to attorney and notes requirements and accuracy of new loan posting to teller sheet. Verifies coding and loan servicing data, and links loan to servicing data and servicing system.
    • Responsible for the timely payment and reconciliation of tax service and insurance vendors and maintenance of tax and insurance records on the Core system.
    • Processes timely payment of PMI, Flood and Hazard premiums. Researches and resolves any insurance and force placed matters in coordination with the insurance vendor.
    • Coordinates the tracking of homeowner's insurance and force placed insurance in conjunction with the insurance vendors. Corresponds with borrowers, insurance agents/companies and other third parties to obtain necessary documentation.
    • Processes and reviews Annual Escrow Analysis to ensure timely disbursement of all analysis documentation.
    • Responsible for preliminary research of customer escrow issues. Analyzes the problem and escalates as needed for resolution.
    • Assists with various tasks within the Servicing Department which includes: processing daily mail, customer payments, account maintenance and other administrative duties as may be required to maintain efficiency in the department.
    • Responsible for processing Loan modifications/Interest Rate changes approved by the Executive Committee, including Executive Committee report preparation.
    • Responsible for attaining predetermined sales goals on a monthly/annual basis in accordance with the Bank's Customer Service Standards.
    • Reviews the monthly loan property report and ensures that borrower requested cancellations and automatic terminations are processed in line with servicing regulations.
    • Obtains all daily and weekly rate indices and submits them for review and processing in a timely manner.
    • Responsible for the boarding and discharge of all consumer loans.
    • Assists with functions related to the servicing of Commercial Loans.Supportive Functions:
      • Performs related loan servicing tasks and special projects as may be required or assigned.
      • Acts as primary backup for Loan Servicer. Contact our Human Resources Division or visit for more details and to apply. Or submit your resume to:Email: Fax: 617-252-6877 Phone: 617-354-7700 East Cambridge Savings Bank, Attn: Human Resources344 Cambridge Street Cambridge, MA 02141 East Cambridge Savings Bank is an Equal Opportunity Employer/Disabled/Veterans

Keywords: East Cambridge Savings Bank, Cambridge , Loan Servicing Representative II, Other , Cambridge, Massachusetts

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