Loan Operations Specialist

Salem Co-operative Bank
United States, New Hampshire, Salem
3 South Broadway (Show on map)
Jan 03, 2025
Ready to make a difference? At Salem Co-operative Bank, we pride ourselves on offering a work environment where customer service and success are consistently placed front and center. Founded in 1922, we've grown in size, expanded our products and services, and learned to improve from 100 years of experience. Every customer is treated as a unique individual, knowing that not all customers' needs are the same. Our commitment to our community is evident in our philanthropic foundation, Salem Community Benefit, which has contributed over $1.6 million to local organizations. Each year our employees spend many hours volunteering at local organizations in the Salem and Merrimack Valley areas. If you are ready to make a difference professionally, personally, and in the community, we want to meet you! We are looking for a Loan Operations Specialist to perform various servicing and collection duties including but not limited to maintaining escrow records, processing disbursement of taxes, insurance, and PMI, performing post-closing quality review, reviewing and updating bankruptcy documentation, and inputting loans into Encompass Loan System. You are responsible for accurate data collection, compilation, and preparation of periodic reports pertaining to mortgage and consumer loans including the Bank's annual HMDA submission. This is an on-site role; applicants must be able to commute to Salem, NH 5 days per week. How you will accomplish this: Disburse escrow taxes, insurance, and PMI, as well as PMI cancellations Prepare and follow up on payoff quotes; prepare legal documentation and discharges Handle customer inquiries, research issues, and resolve in a timely fashion Perform post-closing review and follow-up of residential and consumer loan documentation as well as quality control review ensuring compliance with regulatory and bank policies Book and review all consumer and residential loans from Encompass to the CORE system Process construction disbursements and conversions according to procedures Ensure servicing tasks are completed timely & accurately for all loans sold to secondary market Process and monitor insurance renewals and forced place insurance Compile, review and enter HMDA data associated with all mortgage and consumer loan requests Monitor overdue accounts and contact borrowers with early-stage delinquency calls to determine reasons for delinquency and collect payments Maintain records of contacts and attempted contacts for delinquency calls and record payments collected Review and update bankruptcy documentation and system documentation Perform other duties as assigned What you will bring to the role: High school diploma and 2 years of residential and consumer lending compliance A willingness to research, obtain, and analyze information; grasp regulatory requirements and changes quickly Excellent verbal and written communication skills Be organized, detail-oriented, and able to multi-task Able to effectively manage and execute competing priorities and tasks Be a productive, positive, and collaborative team member Helpful, but not required: Knowledge of banking industry/products, lending practices, and regulatory/compliance guidelines An understanding of the fundamentals of residential loan servicing and operation procedures Knowledge of collection requirements Knowledge of loan closing documents Knowledge of HMDA data, reporting, and submission requirements Experience in/knowledge of consumer and mortgage closing procedures and documents Knowledge of secondary market QC procedures and requirements a plus Experience with QuestSoft and Encompass