Loan Operations Specialist

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<div class="isg-job-description“>Ready to make a difference?  At Salem Co-operative Bank, we pride ourselves on offering a work environment where customer service and success are consistently placed front and center.  Founded in 1922, we’ve grown in size, expanded our products and services, and learned to improve from 100 years of experience.  Every customer is treated as a unique individual, knowing that not all customers’ needs are the same.  Our commitment to our community is evident in our philanthropic foundation, Salem Community Benefit, which has contributed over $1.6 million to local organizations.  Each year our employees spend many hours volunteering at local organizations in the Salem and Merrimack Valley areas.  If you are ready to make a difference professionally, personally, and in the community, we want to meet you!
We are looking for a Loan Operations Specialist who will be paramount in ensuring the seamless administration of the mortgage and consumer loan portfolios.  As a pivotal liaison between the bank and borrower, you will require a blend of customer service excellence with meticulous attention to detail. You will handle the day-to-day tasks of managing mortgage and consumer loans after closing including collecting payments, loss mitigation, managing tax and insurance escrow accounts, construction disbursements, payoffs, and communicating with and assisting borrowers with their loans.
How you will accomplish this:

• ESCROW ACCOUNT MANAGEMENT: pay & monitor property taxes, homeowners and PMI insurance
• COMMUNITCATION AND SUPPORT: respond to borrower inquiries and provide timely assistance as needed
• LOSS MITIGATION: assist with requests for loss mitigation options; when borrowers face financial difficulties, assist in cases of default and may initiate foreclosure or repossession proceedings
• PAYOFF REQUESTS: prepare and follow up on payoff quotes; prepare legal documentation and discharges
• CUSTOMER SERVICE: handle customer inquiries, research issues and resolve in a timely fashion
• QUALTITY REVIEW: perform post-closing review of residential and consumer loan documentation; follow up to ensure compliance with regulatory and bank policies
• REPORTS: generate reports and summaries for management review and meetings as needed
• Book and review all consumer and residential loans from Encompass to the CORE system
• Process construction disbursements and conversions according to procedures
• Ensure servicing tasks are completed timely & accurately for all loans sold to secondary market
• Maintain knowledge of laws and regulations to provide compliant documents and procedures
• Compile HMDA data associated with all mortgage and consumer loan requests, and review for annual HMDA submission
• Comply with all policies, procedures and regulatory requirements
• Assume additional responsibilities as requested

What you will bring to the role:

• High school diploma and 2 years of residential and consumer lending compliance
• Knowledge of the banking industry, products, lending practices, and regulatory/compliance guidelines
• An understanding of the fundamentals of residential loan servicing and operational procedures
• Experience with/knowledge of consumer and mortgage closing procedures and documents
• Knowledge of HMDA requirements and experience with yearly HMDA reporting  
• Knowledge of secondary market QC procedures and requirements
• Knowledge of collection requirements
• Experience with QuestSoft and Encompass systems
• Excellent verbal and written communication skills
• Must be detail-oriented, organized, accurate, and able to multi-task
• Able to research, obtain and analyze information, and grasp regulatory requirements and changes quickly
• Must be willing to be a productive, positive, and collaborative team member

Salem Co-operative Bank is an Affirmative Action/Equal Opportunity Employer.
Applicants are considered for all positions without regard to race, color, religion, gender, pregnancy, marital status, familial status, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, gender identity or other characteristics protected by applicable law.

 

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