Loan Servicing Specialist – Lowell Five
Full Time Career Opportunity, Loan Servicing Specialist
Lowell Five, a trusted community partner, has an opportunity for you to take the next step in your career by joining our Loan Servicing team.
The Loan Servicing Specialist ensures proper security of the Bank’s collateral interest through appropriate tracking and reporting. Responsibilities include the processing of paid loan files including logging files, discharges and preparation of mortgage discharge/partial release documents.
Successful applicants will have excellent customer service skills with an emphasis on providing quality service, the ability to multitask and a familiarity with Microsoft Office applications. Loan Servicing experience and knowledge of OSI/DNA preferred.
Loan Servicing Specialist Function: Performs all necessary tasks to ensure the accuracy of the Consumer, Residential Mortgage and Commercial Loan products in the OSI/DNA Core system in conformance with Bank policies and Departmental procedures.
• Ensures proper security of the Bank’s collateral interests through tax reporting, insurance tracking, forced placed insurance, title tracking, mortgage recording and private mortgage insurance services.
a. Verifies pertinent collateral data fields on all new collateralized loans and notifies the appropriate third party vendors of any new loans.
b. Performs regular reconciliation of reports provided by the vendors to the data in the OSI/DNA Core system.
c. Reports paid loan activity to the vendors as necessary and take the necessary steps to release the Bank’s interest in the collateral.
d. Performs monthly reconciliation of manually tracked new escrow activity to Core Logic reports.
• Responsible for processing paid loan files which includes logging paid files and discharges, accurate preparation of mortgage discharge/partial release documents, and timely delivery of the necessary closed loan documentation to closing agents or customers.
• Responsible for the timely and accurate processing of various Loan Servicing reports to ensure the integrity of the OSI Database.
• Researches and resolves complex customer issues.
• Processes debits to customers’ escrow accounts and remits payments for condominium association bills. The above is a description of the ordinary duties of the position. It should be expected that from time to time other duties, both related and unrelated to the above, may be assigned, and therefore, required.
• Sound working knowledge of various loan product documentation requirements including property insurance and flood insurance.
• Intermediate experience and knowledge of OSI/DNA system.
• Familiarity with various software applications (Word, Excel, Outlook) in order to support maintenance of logs and correspondence with external and internal parties.
• Ability to multi-task to a moderate degree, with the specific requirements that accuracy and efficiency be maintained. • 3+ years of Loan Servicing experience is preferred.
Lowell Five offers a competitive salary, benefits package and opportunity for professional growth. If you are flexible, eager to learn and are interested in working for a company you can grow with, please apply on-line at: www.lowellfive.com or stop by any of our branch locations for an application and forward to: Lowell Five Bank Human Resources Department PO Box 440 Lowell, MA 01853-0440