Consumer Loan Servicing Specialist

Job Description

General Job Description:

The Consumer Loan Servicing Specialist is responsible for performing routine and repetitive quality control on consumer loans by applying the basic funding, lending, and compliance principles. In addition, this role supports all consumer loan servicing functions to include loan account maintenance, lien releases, vehicle title processing and member service. This team will process all types of consumer loan support requests within established guidelines, policies and procedures; respond to all inquiries from internal team members and external members timely, accurately, courteously and professionally; as well as research and resolve any consumer loan servicing issues.

Duties & Responsibilities:

• Review loan applications and notes for required documentation, stipulations, and verifies terms are within policy and guidelines
• Communicates and follows up with necessary corrections to the originator at loan creation
• Coordinate error resolution or collection of missing information with Member Advocates
• Perform quality control on loan and release and distribute funds accordingly
• Responsible for verifying completeness of files with all necessary documents and signatures
• Ensure the loan file is complete and meets all regulatory requirements
• Complete tracking information for performance and identify training opportunities for staff
• May clear identified loan exceptions
• Prepare draft letters, process payments, prepare ticklers and follow up with dealerships
• Support the titling department, member, employee, and dealer related questions, follow up, and follow through.
• Supports Member Advocates and vendors with loan related or title questions
• Assist with client (dealership/financial institution/member) questions and/or research
• Collaborate with team members to ensure department efficiencies
• Process credit disputes in e-Oscar and participate in webinars to make sure MCCU is up to date on all regulations regarding credit disputes and how they are resolved
• Re-issue lost cashier’s checks when needed
• Process Debt protection, Gap claims and letter of guarantee requests
• Generate daily reporting for outstanding dealer payments, pending titles and rejected loans
• Make recommendations for improvements to workflow or customer service issues
• Attend internal and external trainings as recommended or required for this job role
• Miscellaneous duties or tasks to support consumer loan services, other duties as assigned
• Responsible for adherence to all policy, procedures and State or Federal regulatory requirements
• Foster and maintain positive relationships with both co-workers and members by actively embracing and demonstrating MCCU's culture, known as IMPACT.

Skills/Abilities:

• Strong organizational skills, attention to detail, and ability to multi- task

• One to three years of lending experience in a financial institution is preferred

• Ability to use sound problem solving skills and good judgment to independently resolve complaints and errors

• Ability to lead others in completing routine tasks

Physical/Mental Requirements of The Position:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• While performing the duties of the job, the employee is regularly required to stand, sit, use hands, reach with hands and arms, stoop, kneel, crouch or crawl, and talk or hear.
• Ability to move and/or lift 20 pounds.
• The vision requirements include close vision and ability to adjust focus.
• The mental demands include detailed work, reasoning, math, language, written and verbal communications, multiple concurrent tasks.