Job Overview
The Loan Services Support Representative is expected to provide exceptional service to both internal and external customers. This position serves as a key point of contact for member inquiries, business partners, and internal departments, requiring timely responses, professionalism, and a commitment to delivering positive customer experience. Answering incoming phone calls and resolving customer questions efficiently and accurately is an essential function of this role.
A strong attention to detail, excellent communication skills, and the ability to adapt to changing business needs are essential for success in this position.
Responsibilities
- Provide exceptional service to members, business partners, and internal departments.
- Respond to incoming phone calls, emails, and service requests in a professional, timely, and accurate manner.
- Research and resolve member inquiries related to loan servicing, escrow accounts, insurance, taxes, and other servicing functions.
- Serve as a resource for internal departments by providing information and assistance regarding loan servicing processes.
- Escalate complex issues appropriately while maintaining ownership of the member experience.
Escrow Administration
- Assist the Senior Loan Services Representative with escrow account administration and servicing activities.
- Support the preparation and completion of annual escrow analyses for applicable mortgage loans.
- Review escrow account activity for accuracy, identifying shortages, surpluses, and required adjustments.
- Assist with generating escrow statements and ensuring timely member notifications.
- Research and resolve escrow discrepancies and unusual account activity.
Property Tax Administration
- Coordinate with third-party tax vendors to ensure timely and accurate property tax payments.
- Monitor tax payment files, exception reports, and tax bill updates.
- Investigate and resolve tax-related issues, including missing tax bills, payment discrepancies, and jurisdictional questions.
- Serve as a liaison between vendors, members, and internal departments regarding escrowed property taxes.
Insurance and PMI Administration
- Process homeowner's insurance premium payments from escrow accounts.
- Process PMI premium payments and maintain accurate records.
- Review insurance documentation and ensure adequate coverage is maintained.
- Assist with insurance-related inquiries and issue resolution.
New Loan Escrow Setup
- Conduct initial escrow analyses for newly originated and newly boarded mortgage loans.
- Verify property tax and insurance information to ensure proper escrow setup.
- Calculate monthly escrow payments and required escrow deposits in accordance with RESPA requirements and company guidelines.
- Ensure accurate setup and maintenance within servicing systems.
Delinquent Tax Monitoring
- Review delinquent tax reports received from tax authorities and vendors.
- Research delinquent tax notifications and take appropriate action to protect the credit union's lien position.
- Maintain tracking logs and documentation related to delinquent property taxes.
- Communicate with borrowers and internal stakeholders regarding delinquent tax issues as needed.
General Loan Servicing Support
- Assist with additional loan servicing responsibilities as assigned, including support for consumer, mortgage, business, and lease servicing operations.
- Maintain accurate records and documentation within servicing systems.
- Identify opportunities for process improvements and efficiencies.
- Support departmental projects, cross-training efforts, and operational initiatives.
- Maintain compliance with all applicable regulations, investor requirements, policies, and procedures.
Qualifications and Education Requirements
Required
- High school diploma or equivalent.
- Minimum of one year of customer service, financial services, or administrative experience.
- Strong communication skills, both verbal and written.
- Demonstrated ability to provide exceptional customer service.
- Ability to manage multiple priorities in a fast-paced environment.
- Strong attention to detail and accuracy.
- Proficiency with Microsoft Office applications.
Preferred
- Experience in loan servicing, mortgage servicing, escrow administration, insurance products, dealer services, or financial services.
- Familiarity with FICS or comparable loan servicing systems.
- Understanding of mortgage escrow administration, taxes, insurance, and PMI processing.
- Previous call center or member service experience.
Key Competencies
- Exceptional customer service and member focus
- Professional verbal and written communication
- Attention to detail and accuracy
- Organization and time management
- Problem-solving and critical thinking
- Accountability and follow-through
- Adaptability and flexibility
- Teamwork and collaboration
- Ability to handle sensitive and confidential information
- Commitment to delivering a positive member and employee experience