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Senior Loan Operations Associate

2 months ago


Meriden, Connecticut, United States Planet Home Lending Full time
Position Overview

The Senior Loan Operations Associate will oversee and produce all written communications promptly and accurately for various specialized loan portfolios, including Balloon Loans, Adjustable Rate Mortgages (ARMs), Loan Modifications, and Service Members Civil Relief Act (SCRA) loans.

Key Responsibilities
  • Manage error resolutions for specialized loan products and implement process modifications to minimize ongoing inaccuracies.
  • Serve as the primary contact for initial inquiries within the department regarding the processing of specialized loan functions.
  • Facilitate training on specialized loan operations, including report generation and MSP data management.
Essential Duties

Responsibilities include:

  • Updating and reviewing the MSP system with new indices for ARM portfolio calculations.
  • Ensuring compliance with applicable laws and agency guidelines by sending appropriate correspondence to borrowers.
  • Reviewing upcoming changes to guarantee the accuracy of ARM data and timely consumer disclosures.
  • Providing support and training to team members on ARM processes and awareness.
  • Conducting system maintenance and ensuring proper documentation for all critical loan data adjustments, including loan modifications and deferments.
  • Completing all data requirements within MSP for various specialized loan categories, ensuring compliance and support for team training.
  • Maintaining, updating, and generating reports for specialized loan functions to assist the team in identifying data discrepancies.
Qualifications

Education: High school diploma or equivalent required; Associate Degree preferred.

Experience: Previous loan servicing experience is preferred, with a solid understanding of Balloon Loans, ARMs, and SCRA loan documentation.

Skills: Effective verbal and written communication skills, proficiency in Microsoft Office with intermediate Excel skills, strong organizational abilities, and the capacity to manage multiple priorities.

Benefits

Our comprehensive benefits package includes medical plans, dental and vision insurance, short-term and long-term disability insurance, basic life insurance, a 401(k) plan, and employer-paid holidays. Additional supplemental benefits are also available.

Work Environment

This position is typically performed in a standard office setting. The role requires maintaining predictable attendance, effective communication, and the ability to perform various physical tasks.

This job description is not intended to cover all activities, duties, or responsibilities required of the employee. The company reserves the right to amend or modify this document at any time without notice.