Loan Servicing Generalist I

2 weeks ago

New York, United States Municipal Credit Union Full time
About MCU:

At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 500,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people.

Overview:

The Loan Servicing Generalist I performs the functions associated with maintaining real estate loan accounts including, but not limited to: the onboarding of consumer and real estate loans through the loan payoff, and everything in between. As many of these processes are vital to the financial relationship with MCU members, accuracy, prompt problem resolution, empathy, and clear communication are critical to help our members meet their financial goals to achieve their dreams.

Responsibilities:

The Loan Servicing Generalist I is responsible for accurately performing critical member impact functions within servicing including, but not limited to: substantial phone work, balance inquiries, the onboarding of new and closed real estate loans onto the system, account updates, account maintenance, document preparation/retrieval, processing payments, payment allocations, escrow payments, payment reversals, executing subordinations, payoffs and preparing satisfactions. Specific duties include, but are not limited to, the following:

  • Review new loan files for accuracy prior to onboarding in consumer or real estate core system (setup in CORELOGIC for tax information, process and setup homeowners' insurance, PMI and escrow).
  • Send out welcome letters to members with new mortgages.
  • Process account maintenance requests.
  • Provide members, internal/external customers, and 3rd party vendor with quality customer service in a courteous and professional manner.
  • Process payments for 1st and 2nd mortgages, HELOCs, Home Equity, Consumer, Chase Lockbox, and payments made at a MCU Branch.
  • Process NSF checks and Returned Items.
  • Run late charge notices and assess charges to consumer and real estate accounts.
  • Run a daily proof after all consumer and real estate loan payments are posted, and run the end of the day reports to provide to the Accounting Department.
  • Perform month end closing, ensuring all branch payments are posted, and run all month end reports.
  • Issue a history of disbursements and subsequent annual projections to members.
  • Process HELOC cash advances, HELOCS, Home Equity notes (this is a manual process that requires the posting of a HELOC/Home Equity check).
  • Prepare consumer and real estate loan payoff letters.
  • Process payoffs and payment reversals.
  • Prepare satisfactions and subordinations.
  • Process requests from members for PMI cancellations according to requirements/guidelines, and thru PMI threshold notifications.
  • Respond to and resolve credit disputes, report late payments to the credit bureaus, and review the E-Oscar report and make the necessary corrections.
  • Process loan modifications, skip a payment and forbearance agreements when received from loss mitigation; collections; management ensuring the request meets the guidelines and directives provided by the GSE's, federal and state regulations and MCU's Chief Lending Officer and Chief Compliance Officer.
  • Perform escrow analysis, make the appropriate account adjustments within the servicing system, validate, and test the notifications for accuracy prior to mailing to the members.
  • Based on the servicing portfolio composition, run daily investor loan remittance reports, balance, and review for accuracy. Calculate funds due to the investors and remit payments.
  • Review and prepare CEMAs.
  • Handle legal requests for VOM, document or statement copies.
  • Test and validate 1098 and 1099 statements for generation and reporting.
  • As needed, assist with HMDA validation, corrections, and reporting.
  • Collateral and lien perfection and releases
  • Collateral protection insurance
  • GAP/Mechanical Breakdown Protection/Credit Life/Credit Disability questions or claims
  • Handle legal requests for document or statement copies
  • Participate in special projects as assigned.
  • Assist members in call queue as required
  • Perform other duties as required within mortgage and home equity
  • Travel as required
Requirements:
  • High school diploma or GED equivalent is required, Associate's Degree preferred.
  • Minimum of 1-3 years Consumer and/or real estate loan servicing experience required.
  • Proficient in Microsoft Office.
  • Exceptional organizational and analytical skills.
  • Strong verbal and written communication skills.
  • Ability to prioritize and multi-task.


Why you'll be a good fit:

Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you'll bring the following:

Results - You'll look to achieve the best outcomes for our members. Continuously track and measure everything, and use it to always improve. Be proactive, not reactive.

Agility - You'll remain agile in your decision making, planning, and delivery; using curiosity and creativity to see situations from all perspectives.

Integrity - You'll act professionally and positively. Build trust, be upfront and communicate thoroughly.

Teamwork - You'll work to achieve common goals as part of ONE TEAM.

Ownership - You'll hold yourself and others accountable and remain committed to our obligations while caring about the outcomes as much as an owner would.

Belonging - You'll embrace and environment in which any individual or group can be and feel welcomed, respected, supported and valued.

We stand by our mission to connect our members and communities with an exceptional financial future and we are looking for individuals who share this same purpose to take this journey with us.

What we can offer you:

Competitive compensation, medical and dental benefits.

401K with employer contribution

Flexible paid time off

We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization.

Municipal Credit Union (MCU) is an Equal Opportunity Employer.

Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

Payrate: $17.80 to $28.52 hourly

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