Loan Operations Analyst II

1 week ago


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

The Loan Operations Specialist II plays a crucial role in overseeing and generating all written communications promptly and accurately for specialized loan portfolios, including Balloon loans, Adjustable Rate Mortgages (ARMs), Loan Modifications, and Service Members Civil Relief Act (SCRA) loans.

Key Responsibilities
  • Monitor and resolve errors related to specialized loan products and implement process changes to minimize inaccuracies.
  • Act as the primary contact for internal inquiries regarding the processing of specialized loan functions.
  • Support training initiatives related to specialized loan functions, including report generation and MSP data processing.
Essential Duties

The incumbent will:

  • Update and review the MSP system to incorporate new indices for the ARM portfolio.
  • Ensure compliance with applicable laws and agency guidelines by sending appropriate correspondence to borrowers.
  • Review upcoming changes to guarantee the accuracy of ARM data and timely consumer disclosures.
  • Assist team members with ARM training and awareness initiatives.
  • Perform system maintenance and document all adjustments for critical loan data, including modifications and deferments.
  • Provide guidance to newer team members to ensure uniform adherence to departmental processes.
  • Complete all data requirements within MSP for various specialized loan types, including Step Rate Modifications and Deferred Interest Loans.
  • Generate and maintain reports for specialized loan functions to support the team and identify data discrepancies.
Qualifications

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

Experience: Previous loan servicing experience is preferred, with a comprehensive understanding of Balloon loans, ARMs, and SCRA loan documents. Familiarity with FHA, VA, and USDA Government loan products is advantageous.

Skills: Effective verbal and written communication skills, with the ability to instruct team members. Proficiency in Microsoft Office, particularly Excel, and strong organizational skills are essential. The ability to manage multiple tasks, meet deadlines, and adapt to changing environments is crucial.

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 environment. The physical demands include maintaining predictable attendance, effective communication, and the ability to stand, walk, sit, and use hands for various tasks. Occasional lifting of up to 10 pounds may be required.

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.



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