Loan Operations Specialist II

Details: Under general supervision, the Loan Operations Specialist II assists with the closing, funding and servicing of residential mortgages (1-4 family), SBA (7A and 504), commercial (CRE) and commercial & industrial loans. The incumbent will setup files on the servicing system; record principal, interest and escrow payments; maintain file storage and assist with investor reporting. Responsibilities: Loan Funding & Closing Coordinates and interacts with title firms for verification of recording documents, and discussion issues. Reviews loan files for correct documentation and verifications. Assists with the preparation of closing documents for 1-4 family loans. Assists with funding of residential and commercial loans as necessary. Prepares wire instructions for 1-4 family loan fundings. Reviews estimated HUD statements prior to funding and final HUD statements after loan closing to ensure compliance with RESPA regulations. Completes loan files for servicing and vault storage. Loan Servicing Assists with file setup for applicable loan, and performs post-closing monitoring. Performs loan boarding in the servicing system. Process mortgage, commercial and SBA payments in the servicing system. Reviews Credit Union’s records and transactions in cases where payments are more than 15 days past due, in order to resolve misapplied payments, research account transactions to ensure that payments are properly directed. Assists Special Assets Group by providing support documentation for account delinquency follow-up. Performs escrow analysis and disbursement of funds from Escrow to appropriate agencies when due (insurance, taxes). Process demands for payoffs, modifications and subordinations. Processes payoffs and preparation of Deeds of Re-conveyance in accordance with Credit Union and investor policies and procedures. Documents all servicing activity taken. Posts fees to and balances associated general ledgers. Tracks, pays and if needed, force places insurance (flood, hazard, HUD etc.). Responsible for loan file room and loan file cabinet maintenance. Provides support to the mortgage origination and commercial lending departments as necessary. Performs final file review (including final HUD) and documents receipt of original recorded deed of trust and that Technology Credit Union is assigned the correct lien position on the final title policy. Assists with GL reconciliations as necessary. WORKPLACE ESSENTIALS Supports the Credit Union’s Mission & Vision and Lives the Tech CU Values (Accelerate, Collaborate, Innovate, & Cultivate). Meets on a monthly basis with manager to discuss goal alignment, performance metrics, and development plans. Adheres to Policy & Procedure put forth in employee handbook; upholds employee Code of Conduct/Ethics, and ensures confidentiality of the workplace. The employee will comply with all rules and regulations as defined by applicable regulatory agencies. The employee will also adhere to all internal controls and security measures designed to ensure regulatory compliance with State and Federal laws.
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