Snr. Loan Servicing Generalist (ON-SITE)

Description

This position is located in our Lake Success, NY office.

Estimated starting salary is $70,000-$80,000 per year.

Duties & Responsibilities:

Review the Cenlar daily payoff report; order paid off loan legal files from the document vault, extract all original loan security documents, send originals to Cenlar along with appropriate cover sheet, and maintain copies for the bank’s file.

Administer requests for residential & Commercial/Multifamily loan assignments by sending appropriate forms to the borrower and forwarding relevant loan documents to Cullen and Dykman along with cover sheet, maintaining copies of all documents for the bank’s file. Order Residential payoff quotes from Cenlar when a closing date has been scheduled. Also notify Cenlar to obtain original loan documents from custodian for loans held by Fannie Mae or other investor. Alert Business Development Officer of all assignment requests in order to attempt in-house retainment of loan.

Administer requests for co-op refinances and co-op sale requests from borrowers by extracting the stock certificate and proprietary lease from the legal file and forwarding same to Cullen and Dykman along with a cover memo for processing; maintain copies of all documents for the bank’s file; order payoff quote from Cenlar when a closing date has been scheduled; also notify Cenlar to obtain original stock and lease from custodian for loans held by Fannie Mae or other investor.

Process Commercial/Multifamily payoff in DNA and submit documents to attorneys for the preparation of mortgage satisfaction, termination of UCC’s and assignment of leases and rents. Prepare payoff letters as requested for Commercial/Multifamily loan.

Process installment loan payoffs, cancel notes, and return canceled notes to borrowers for their records.

Manage the preparation, recordation and shipment of all satisfied loan files in accordance with Bank record retention policy.

Oversee the preparation of the daily home equity line wire transmittal to Bank NY Mellon/Cenlar upon receipt of funding advice from Cenlar; process general ledger entries and verify that the corresponding loan advances are processed by Cenlar by comparing the daily Cenlar HELOC funding report and the bank’s general ledger daily posting journal on the following business day. Perform research and follow-up on reconciliation differences with the accounting department and Cenlar when necessary. Prepare the wire transmittal to allow for the timely payment of cash advances to Cenlar when daily cash disbursements (tax and insurance payments) made on behalf of the bank by Cenlar exceed cash receipts (i.e. principal, interest and escrow collections).

Record and forward all mortgage and home equity loan payments received by the Mortgage Servicing department along with those that could not be processed by our branches to Cenlar via FED-EX or other overnight courier.

Instruct vendor to place adequate insurance coverage when property is acquired as a result of foreclosure; ensure proper levels of coverage and pay all insurance premiums in a timely manner.

Pay all real estate taxes and other charges on all properties acquired as a result of foreclosure; maintain and reconcile the Ridge Forest checking account and process all associated general ledger entries.

Process installment and Commercial/Multifamily loan payments mailed to mortgage servicing according to departmental policy. Create and maintain automatic payment records for the installment loan portfolio.

Service all tuition loan accounts. Correspond with school representatives and parents, provide monthly statements to schools, charge school checking accounts at end of school year to satisfy all tuition loan arrears.

Contact delinquent installment loan borrowers by phone, email and/or mail; ascertain the reason for non-payment and expected payment date.

Ensure that consumer loan charge-off recommendations are made in the timely manner called for in policy and procedure.

Handle all customer inquiries relative to arrears and general loan servicing issues.

Addresses credit bureau disputes filed by customers; thoroughly investigate claims, perform extensive research, confirm or remove derogatory items from customer’s credit history.

Perform routine file/field maintenance on Commercial/Multifamily loan products.

Utilize Cenlar Case Management application to input, monitor and direct client activity pertaining to both customer and Bank service requests.

Assist with the onboarding of Commercial/Multifamily onto the DNA system.

Assist with performing quality control checks of Commercial/Multifamily post-closing documents to ensure the integrity and accuracy of the DNA fields.

Perform all facets of Commercial/Multifamily property insurance responsibilities including customer mediation, broker/agent interaction, policy review, system update and premium payments.

Perform all facets of Commercial/Multifamily tax escrow responsibilities including escrow analysis and delinquent tax monitoring.

Manage the Escrow Holdback responsibility according to Bank policy including recordation, deposit, disbursement and reconciliation of funds and customer interaction.

Maintain written policies and procedures.

When necessary assist with departmental ad hoc projects.

Job Specifications:

A college degree and at least 5 years’ experience in all facets of Mortgage Servicing and Consumer Loan Servicing

A working knowledge of Fiserv DBA, Cenlar Loan Servicing applications, MS Office or similar processing applications

Previous supervisory experience preferred

A demonstrated ability to communicate orally and in writing

A demonstrated knowledge of basic Accounting skills

Qualifications

Behaviors

Preferred

Detail Oriented: Capable of carrying out a given task with all details necessary to get the task done well