Loan Servicing Specialist at ABNB Federal Credit Union

Chesapeake, Virginia, United States -

Full Time

Start Date

Immediate

Expiry Date

22 Sep, 26

Salary

18.0

Posted On

24 Jun, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Loan Servicing, Collateral Management, Quality Control, Mortgage Servicing, Consumer Loan Processing, Escrow Functions, Tax Analysis, Regulatory Compliance, Microsoft Office Suite, Interpersonal Communication, Time Management, Attention To Detail, Fraud Assessment, Lien Release Processing, Member Relations, Document Management

Industry

Financial Services

Description

Description ABNB Federal Credit Union is dedicated to being the best place you will ever work, starting with our comprehensive employee benefits package, which features affordable medical, dental, and vision plans to support your well-being and future growth in addition to: Paid time off that begins accruing on your first day Enjoy 11 paid federal holidays each year, giving you more time to relax and recharge 401(k) matching up to 4% with immediate vesting, plus an additional 2% match with future vesting Company-paid short-term, long-term disability, and employee life and AD&D coverage A tuition reimbursement benefit which reflects our investment in your future Competitive pay along with opportunities for annual raises and promotions Paid community involvement opportunities offer rewarding chances to network, make a positive impact, and get involved in meaningful local initiatives A supportive environment which fosters an employee-centric workplace where growth and member relationships are prioritized The Loan Servicing Specialist maintains all credit union quality control, collateral securing, maintenance and servicing functions for mortgage and consumer loans. Key Responsibilities Serves as a liaison between the Credit Union, members, and third parties such as the Department of Motor Vehicles, title companies, insurance companies, clerk of courts, mortgage companies and vehicle dealerships to ensure the accuracy of the collateral on applicable loans. To include but not limited to: Certificate of Satisfactions, parcel information, deed of trust, vehicle titles, state forms, VIN numbers, total loss settlements, gap claims, partial payments, release letters, letters of guarantee, and lien/title releases. Services and performs maintenance on existing mortgages and consumer loans. This includes due date changes, payment changes, skip-pays, reversals, and reapplication of payments. This also includes escrow functions, tax analysis and updates, and collateral and insurance monitoring. Maintains quality control functions for deposit accounts, consumer loans, and home equity loan products. Researches and keeps current with all DMV and loan servicing laws, regulations, and documentation required for all states. This includes ensuring proper documentation is signed and completed, loan terms are correct, supporting documentation is provided, and ensures documents are retained in member files according to Credit Union policies and procedures. Prepares documents for collateral to include Certificate of Satisfactions, lien release letters, payoff letters, and more. Posts all dealerships’ pay off checks, financial institution checks, insurance settlement checks, files GAP and warranty claims for refunds and/or settlements. Processes insurance and tax payments for mortgage product loans. Determines negotiability of title and deed documentation and assesses potential for fraud. Reports all title and deed discrepancies to appropriate management. Ensures collateral for all applicable loans is secured and tracked accordingly. Responsible for reviewing and approving statement, adverse action and rate change files for consumer and mortgage loans, and ensures copies are retained in member files according to Credit Union policies and procedures. Actively listens and responds to member and co-worker needs while being professional and courteous. Collaborates with co workers in various departments to effectively and efficiently service members and vendors. Provides professional and friendly communication via electronic sources and phone conversations with members, vendors, and third-party servicers. Completes self-development and training i.e. online learning platform courses, webinars, seminars, workshops, training sessions, classes, books, etc. Performs other job related duties as assigned. Requirements Experience: One year to three years of similar or related experience. Education: A high school education or GED. Interpersonal Skills: Work involves contact with persons beyond immediate associates regarding routine matters for the purpose of giving or obtaining information which may require some discussion. Outside contacts take the form of service to the public (members or vendors), requiring ordinary courtesy in providing assistance and information. Other Skills: 1. A working knowledge of the loan process specifically consumer loan processes and collateral loan processes. 2. Attention to detail and time management is required. 3. Must possess interpersonal skills to communicate effectively with members and employees through electronic sources, telephone, and in person. 4. Must be able to operate a PC and related equipment with speed and accuracy. Working Experience with Microsoft Suite (Outlook, Teams, SharePoint, Word, Excel, PowerPoint) is desired. Physical Requirements: Physical qualifications include sitting at a workstation for extended periods of time and being able to lift/carry up to 10 pounds. Work Environment: In Office. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, marital status, pregnancy, disability, or protected veterans’ status

Responsibilities

The Loan Servicing Specialist manages quality control, collateral securing, and maintenance for mortgage and consumer loans. This includes acting as a liaison with third parties and performing maintenance tasks such as payment changes and escrow functions.