Lending Administration Specialist I

3 weeks ago

New Hartford, New York, United States First Source FCU Full time
Job Description

First Source Federal Credit Union is seeking a highly skilled and detail-oriented Lending Administration Specialist I to join our Loan Operations team. As a key member of our team, you will be responsible for providing exceptional support and assistance to our Credit Union for the servicing and processing of the Consumer, Business, and Real Estate lending portfolio.

Key Responsibilities

  • Maintain a comprehensive knowledge level on all tasks and functions of the Loan Operations department to support the daily processes as needed.
  • Responsible for and ensures all Credit Union lien positions are protected and collateral filings are completed accurately. This includes all initial recordings and releasing collateral as needed.
  • Monitors existing collateral portfolio and decides if further action is warranted to protect Credit Union assets. Responsible for contacting members about any liens that are not perfected during the collateral filing process.
  • Maintains an in-depth knowledge level of loan modifications. Responsible for reviewing requests for accuracy, processing required documentation, and performing account maintenance to include delivery to member for signatures.
  • Submits and processes life and disability insurance claims, letters of guaranty, GAP insurance claims, and other ancillary product refunds and reimbursements. Credits member's accounts and updates loan with necessary changes as appropriate.
  • Reviews and ensures proper procedural steps are followed for new, migrated, or modified Credit Cards in accordance with Credit Union policy and regulation.
  • Reconciles Loan Operations general ledgers while comparing to sales and core system reports.
  • Maintains tracking for Military Lending Act and Service Member Civil Relief Act.
  • Responsible for sending Adverse Actions notices on withdrawn and denied loan applications.
  • Research and process loan adjustments and corrections as needed. This may include insurance or payment corrections, tax and escrow issues, and member inquiries.
  • Supports upload of loan-related documents into document management system.
  • Responsible for continuous clear and professional communication with internal and external members, as well as vendors, financial institutions, and other applicable authorities.
  • Stays informed and up to date on credit union policy and procedures, regulatory changes, consumer protection laws, rate changes, and credit union updates.
  • Assists in ensuring internal and portal procedures are up to date.
  • Cross-sells all credit union products and services as necessary.
  • Supports other functions within the Loan Operations Department as needed and performs other duties as assigned.
  • Updates the Loan Operations Manager and/or Loan Operations Supervisor on developments or issues with loan servicing.
  • Required to adhere to Credit Union policies and procedures.
  • Required to attend or participate in necessary compliance training, including but not limited to Bank Secrecy, OFAC, and Privacy.
  • Required to participate in First Source Federal Credit Union events as well as designated Community events.
  • Required to attend training sessions as appropriate.
  • Required to travel as needed.

Requirements

  • High School or equivalent plus 1-3 years' work experience or related business degree.
  • Consumer loan experience preferred.
  • Strong communication and interpersonal skills.
  • Demonstrates proficient computer skills with a high level of computer literacy.
  • Strong Attention to detail.
  • Ability to perform well and keep up responsibilities in a high volume, fast-paced working environment.
  • Ability to work Saturdays.
  • A professional appearance.

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