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Loan Servicing Specialist

Loan Servicing Specialist

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Job Snapshot

Base Pay $13.00 - $19.00 /Hour
Other Pay Salary Commensurate with Experience
Employment Type Full-Time
Job Type Professional Services
Education Not Specified
Experience 1 to 3 years
Manages Others No
Relocation No
Industry Banking - Financial Services, Accounting - Finance
Required Travel Not Specified

Job Description

Job Description:

Compiles data and calculates timeframes; monitors each timeframe and ensures timely claim submission.

  • Inputs claim information
  • Reviews printed claim form for accuracy and compliance standards.
  • Identifies interest cut-off date when appropriate and codes losses according to timeframe and area causing the loss.
  • Responsible for the review, analysis, and submission of claims for reimbursement of principal, interest, and expenses in accordance with agency, investor and insurer regulations.
  • Extensive investigation and decision on corporate advance transactions to determine claimability to investors and insurers.
  • Reconciling corporate and escrow transactions through claim filing and loss decisioning.
  • Reviews all billing statements and payments to vendors, attorneys, and property preservation services for accuracy.
  • Responsible for conducting loan level timeframe reviews for the default process to ensure compliance with agency, investor, and insurer regulations.
  • Responsible for the review and decisioning of curtailments and billings assessed by agencies, investor, and insurers.
  • Review loans for appropriate documentation; completes regular follow up with Foreclosure Attorneys, internal departments and others for missing information.
  • Monitor and follow up on receipt of claim payment funds from agencies, investors, and insurers.
  • Work closely with attorney firms and cross business units (primarily Bankruptcy, Foreclosure, HP and Investor Services).
  • Effectively and professionally interact and communicate with agencies, investors, and insurers as well as all levels of management, staff, and cross business units.
  • Recommend changes on existing procedures or enhancements to procedures in order to increase efficiencies and ensure proper work flow

Job Requirements

  • 1+ years experience in customer service, loan administration, collections, or sales environment
  • Ability to meet/exceed stringent regulatory deadlines.
  • Strong organizational and time management skills.
  • Ability to handle a heavy workload with a high degree of accuracy.
  • Demonstrated ability to independently work efficiently while having the ability to work well within a team atmosphere and maintain professional composure in a fast paced work environment.
  • Strong written and verbal communication skills.
  • Requires exceptional research and decision making skills to ensure timely and accurate problem resolution.
  • Detailed oriented with strong prioritization and time management skills.
  • Working knowledge and use of Microsoft Office products.

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Loan Servicing Specialist

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