Loan Servicer II

POSITION DESCRIPTION

The Loan Servicer II provides superior quality service to loan clients. Responsibilities include loan payment processing for commercial and residential loans, including but not limited to: loan account maintenance, management of escrow for property taxes and insurance payments, reserve account analysis, interest rate change notifications/modifications, and payoff processing to include releases reconveyances and UCC filings and terminations. Duties may also include investor remittance and participation loan setup and reporting, loan modifications, delinquent loan and foreclosure maintenance on various networks, and managing a tracking system for restructured loans. In addition, the Loan Servicer II must have the ability to provide prompt, accurate verbal and written communications to all bank clients on the status of their loan account. This position requires a high level of superior quality service and troubleshooting skills in order to effectively maintain client and teammate relationships. The Loan Servicer II position must have the ability to work well under pressure in a fast-paced environment.

This position requires the ability to work out of our Administrative office in Seattle during the initial training period and then on a rotating basis.

POSITION QUALIFICATIONS

Associate degree and at least 2 years of loan servicing experience is required. Experience with residential and commercial loans preferred. Ability to function and perform in a loan servicing setting that requires timely attention to borrower loan accounts.

• Effective relationship building and interpersonal skills
• Superior customer service skills
• Ability to use and work with Microsoft Office applications such as Outlook, Word, and Excel
• Must have excellent verbal and written communication skills
• Ability to work both independently and within a team environment
• Basic loan knowledge of mortgage, consumer, commercial and revolving lines of credit
• Basic loan knowledge of escrow tracking and impounds
• Ability to work and make timely decisions under pressure on borrower loan accounts
• Ensure compliance with regulatory requirements, including the Bank Secrecy Act

POSITION RESPONSIBILITIES

Responsibility #1 Loan and Client Service

• Processes regular and payoff payments accurately and in a timely manner.
• Responsible for performing moderately complex loan maintenance for all loan types
• Post payoffs and release collateral for paid-off loans and partial reconveyances
• Works in cooperation with the Loan Servicing team members to evaluate emails or phone requests pertaining to borrower loan accounts
• Uses effective phone etiquette and professional attitude and friendly email correspondence
• Perform required loan account maintenance including name and address changes, recurring payment cancelation, and resolution of non-posted payments
• Identifies client needs and takes appropriate action to meet their needs
• Monitors adjustable rate loans for scheduled rate and/or payment adjustments
• Prepares client notification statements and performs required system maintenance
• Works in cooperation with the loan compliance team members to ensure RESPA rules, and mortgage and commercial loan servicing guidelines are met
• Consistently follows all compliance, security and internal guidelines to ensure accuracy and quality of each transaction
• Works in cooperation with the collections and lending team members to post delinquent payments.

Responsibility #2 Investor Reporting, Tracking & Reconciliation

• Prepares monthly investor remittances for loans sold into the secondary market.
• Works in cooperation with the Secondary Market team members to ensure loan delivery data is current and accurate
• Prepares investor remittance reports and any required exception reports (i.e. delinquency status, partial payments, etc.)
• Prepares daily investor remittance to other investors, and setup participation loan sale
• Prepare monthly reconciliations for various investors, and completing the monthly Forms and Schedules required by the investor
• Research and resolve any variances on the Forms or Schedules
• Performs monthly review of the loan data on FNMA loan and the Acquired Portfolio

Responsibility #3 Escrow Records, Tracking & Reconciliations

• Processes escrow loan payments accurately and in a timely manner.
• Monitors mortgage and commercial loan escrow accounts for hazard insurance, taxes, flood insurance and private mortgage insurance (PMI)
• Monitors non-reserve for cancellation of homeowner's insurance and/or delinquent property taxes
• Works in cooperation with the lending team members to provide timely client notification and resolution of cancellation or non-payment
• Maintains the reserve account status for property taxes, homeowners insurance, flood insurance and private mortgage insurance on loans with established impounds
• Coordinate payment remittance of property taxes on a semi-annual basis and insurance premiums on an annual basis. Review and update monthly tracking reports for all escrow records on the loan system
• Performs an annual reserve account analysis on loans with established principal, interest, taxes and insurance impounds. Prepares reserve account analysis statements and adjusts monthly loan payment reserve to compensate for any surplus or shortage
• Balance and reconcile loan accounting general ledgers
• Review co-workers file maintenance journal for accuracy
• Review weekly collateral tracking report
• Contact insurance agents, send correspondence to customers, and update collateral tracking
• Process all draw requests while ensuring conformity to applicable budgets, approval authority, and relevant procedures
• Remit and accept payments pertaining to loans participated with other financial institutions
• Conduct Call-back audits and file setup reviews

Other Duties as Assigned

Each employee makes a significant contribution to the success of Sound Community Bank. Employees must have an overall understanding of department operations, and ensure compliance with regulatory requirements, including the Bank Secrecy Act. It is expected that each employee will readily accept additional duties and offer their services wherever and whenever necessary to ensure our success.

Corporate Core Values

Demonstrates behavior and actions which support Sound Community Bank's values and actively participates in volunteering.

Our employees are our most important asset.

Results matter.

Community is our heart.

Access and sustainability are critical.

Compensation

Hourly wage is dependent on experience.

$24.65 - $36.90

Health and Retirement Benefits

Health, Dental, and Vision insurance plans for employee and dependents

Employer-paid Group Life & AD/D insurance

Wellness Program discount towards medical insurance premiums, Employee Assistance Program

401(k) plan options with up to 3.5% employer match and Employee Stock Ownership Program (ESOP)

Voluntary benefits include: Health Savings Account (HSA), Voluntary Life & AD/D, Accident Plan, Critical Illness Coverage, Short-term Disability, Long-term Disability, Flexible Spending Account (FSA) and Dependent Care Account

Time-off Benefits

Two weeks Paid Vacation, Paid Employee Days for Birthday and Hire Date Anniversary, Paid Sick and Safe Time (7 days per year), Bank Paid Holidays (11 per calendar year)

Other Benefits

We also offer the following (some perimeters apply): Tenure Bonus Program, Continuing Education/Tuition Assistance - up to $2,500 per year, Student Loan Debt Repayment - up to $100 per month, ORCA Passport/Transportation Alternatives/Benefit Allowance, Charitable Donation Matching Program, Gym/Health monthly reimbursement, Pet Insurance monthly reimbursement, Employee mortgage and consumer loans, Banking services (of course!) free of normal service charges, Employee Recognition Program

EEO is the Law

Sound Community Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability status, protected veteran status or any other characteristic protected by law.

HOW TO APPLY

Apply for the position by clicking on the Apply button or visit our Career Center for all open positions at https://www.soundcb.com/about-us/career-opportunities.html