JOB Objective (brief statement of the core job responsibilities to be accomplished):

Under the direction of the Loan Servicing Supervisor, the Loan Servicing Specialist I/II/III/SR positions are accountable for servicing the consumer and real estate lending portfolios. Major duties include reviewing loan documents, processing incoming loan payoffs or insurance claims, and providing routine support for members, internal departments, dealers, lien holders, and insurance companies. The Loan Servicing Specialist II/III/SR positions possess a wider range of lending expertise and duties such as General Ledger (GL) reconciliation, deceased accounts, reports, and audits.

Supervisory responsibilities (reporting structure):

The incumbent reports directly to the Loan Servicing Supervisor. There are no direct reports to these positions.

NATURE & SCOPE: (daily, weekly, monthly, and yearly tasks, duties and responsibilities):

Loan Servicing Specialist I

Retrieves, sorts, and distributes incoming mail and faxes from branches, MSC staff, members, lenders, dealers, third-party vendors, and insurance companies.

Processes returned mail. Researches and validates needed corrections, performs system file maintenance, and makes member contact when necessary.

Handles incoming and outgoing phone calls to assist Borrowers, internal credit union staff, Dealers, and Lien Holders. In addition, clearly communicates via alternate channels such as email and web chat when appropriate.

Takes ownership of incoming individual or Loan Servicing department email requests and confirms completion with initiating party, when appropriate

Processes incoming insurance payoffs. When necessary, provides a Letter of Guarantee for totaled or stolen vehicles.

Makes recommendations for workflow efficiencies and automation points for resource maximization.

Voluntarily participates in community relations events.

Maintains accuracy within established expectations. Performs assigned work with minimal errors, avoiding negative impact to members, dealers, internal staff, and CCCU’s financials or reputation.

With management’s approval, places department supply orders remaining within pre-established budget guidelines.

Proactively completes all required compliance training per established deadlines.

Performs other relevant administrative duties as required.

Loan Servicing Specialist II (all of the items above, plus)

Prepares consumer loan paid-in-full letters for members or third parties.

Processes deceased account notifications for members with existing loans.

Documents and processes incoming consumer loan payoffs.

When notified of wired funds received for a loan payoff, performs GL debit to credit loan record and completes the necessary tracking fields for the DMV department to accurately release the title.

Processes incoming checks to include product cancellation or fee refunds, various non-standard loan payments, and protection product claims.

Provides written consumer loan payoffs to financial institutions, dealers, and members.

Provides written consumer loan payoffs to mortgage companies when a member is refinancing to consolidate debt.

Verifies deductibles and CCCU lien holder status for Collateral Protection Insurance (CPI) inquiries.

Performs maintenance on consumer loan records to include recasting, payment and interest adjustments, due date changes, and subsequent required actions.

Upon Loan Officer approval and notification, adjusts existing loan records as determined per the completed and signed Loan Accommodation form.

Works with the Marketing and Operations departments to validate monthly statement files for lending related items such as payments, interest accrual, and due dates.

Engages in cross-training and conducts inter-department new hire training.

Maintains a thorough knowledge of loan documents, products, credit union services, systems, delivery channels, policies, and procedures.

Performs other relevant loan servicing duties as required.

Loan Servicing Specialist III (all of the items above, plus)

Monitors real estate closed loan report.

Processes real estate loan subordinations.

Reconciles in-house after-market protection product sales. Verifies GL entries and prepares corresponding reports for the Accounting department to ensure balancing.

Handles claims process for in-house after-market protection products to include gathering of appropriate documents, updating loan records, submitting claims, and providing status to members or affiliate third parties.

Processes CPI transactions to include cancellations and full or partial refunds. File Maintenances (FM) system fields to include interest adjustments. When needed, communicates with member and/or insurance company to provide resolution.

Performs maintenance on real estate loan records to include recasting, payment and interest adjustments, due date changes, and subsequent required actions.

As part of the Loan Review Committee (LRC), performs post-loan audits to ensure credit decisions and loan documentation are in adherence to current policies and procedures.

Assists in developing and revising department procedures.

Processes ‘move loans’ for routine requests on non-fraudulent accounts.

Performs research to investigate credit reporting disputes. Submits corrections as needed.

Assists with internal or external exam preparation.

Assists with the review and/or development of training materials and scheduled shadowing sessions for Branch or MSC staff. Participates with materials review and lending-related training courses facilitated by L&QS.

Performs other relevant loan servicing duties as required.

Senior Loan Servicing Specialist (all of the items above, plus)

When needed, backs up all Loan Servicing Specialists on above referenced duties.

Handles post-settlement funds for in-house after-market protection products.

Troubleshoots technical problems within the Loan Servicing department to include core system or third-party vendor integrations. If necessary, works with IT or modifies internal processes or procedures for immediate solution.

Performs system testing when internal IT team or third-party vendors release new software versions.

Works with Collections and Accounting departments to process month-end charge-offs.

Corrects vesting and funding errors.

Validates annual 1098 tax statements for Real Estate loans prior to IRS upload and member mailing.

Prior to Supervisory escalation, takes ownership of difficult member, dealer, or lienholder requests and pro-actively resolves issues, concerns, or further delays.

When appointed, collaborates with the LPPS department to implement lending products, promotions, process refinements, or technology. Performs research and communicates results, when needed.

Performs other relevant, advanced loan servicing duties as required.

Education, skills, & abilities (qualifications and experience required for this position):

Ability to use a personal computer with a working knowledge of Microsoft Office applications such as Excel, Word, PowerPoint, and Outlook.

Must be able to effectively operate a printer, fax, copier, scanner, and phone.

Ability to communicate effectively to include strong verbal, listening, and writing skills.

Must be organized and detail oriented with the ability to multi-task and work in a high-paced environment.

Ability to interface with staff, members, dealers, and vendors in a courteous and professional manner.

Must arrive for work on time and follow established rules and procedures.

Must collaborate and interact effectively with co-workers, including upper management.

Should always display a positive attitude and professional appearance.

Excellent analytical skills with the ability to compute basic mathematical equations and ratios.

Demonstrate problem-solving skills.

Ability to work independently with focus.

The Eight Superpowers

Provides leadership through modeling of behaviors and bringing forward new ideas and new ways of doing things.
Demonstrates empathy, self-reflection, and adjustment of own behaviors, showing effective emotional intelligence.
Practices active listening in communications with others, giving someone full attention and listening to understand, not just respond.
Demonstrates grit, persisting in application of knowledge, skills, and behaviors to achieve goals and address obstacles.
Models intrinsic motivation; is self-driven to meet or exceed objectives, timelines, and quality measures while building and sustaining effective relationships.
Applies creative problem-solving to provide clarity, handle resources under one’s control, and address stressful situations; finds ways to meet individual, team, and member goals, by navigating through barriers.
Shares a diverse set of perspectives, work and life experiences, as well as religious and cultural differences. Actively seeks out differences in values, ideas, and priorities. Respects and values the differences of others, including but not limited to national origin, language, race, color, disability, ethnicity, gender, age, religion, sexual orientation, gender identity, socioeconomic status, veteran status, and family structures. Believes a diverse workplace is essential to the company’s success.
Values and shows appreciation for the unique qualities and experiences of each person-inclusion; appreciates and effectively utilizes the talents and skills of others to achieve objectives; is open to the perspective of others; and encourages collaboration, flexibility, and fairness. Makes each employee feel valued and supported for their unique qualities.

Loan Servicing Specialist I (all of the items above, plus)

The experience as acquired from a high school diploma or equivalent plus one (1) or more years of general clerical or administrative experience, preferably in a financial institution or dealer setting.

Loan Servicing Specialist II (all of the items above, plus)

The experience as acquired from a high school diploma or equivalent two to four (2–4) or more years of previous lending experience or demonstrated superior performance.

Knowledge of lending terminology and documents.

Ability to clearly and effectively cross-train department staff.

Experience in financial core system required. Experience in Epysis Symitar preferred.

Understanding of lending-related regulatory requirements or programs to include, but not limited to, CCPA, ECOA (Reg B), TIL (Reg Z), ADA, AML, BSA, FCRA (Reg V), FHA, GLBA, UDCP (Reg AA), and elder abuse.

Loan Servicing Specialist III (all of the items above, plus)

The experience as acquired from a high school diploma or equivalent plus six to eight (6–8) or more years of previous lending experience or demonstrated superior performance.

A strong working knowledge of insurance claim processing.

Ability to clearly and effectively train branch, MSC, and department staff.

Ability to analyze, substantiate, and articulate complex financial transactions.

Senior Loan Servicing Specialist (all of the items above, plus)

The experience as acquired from a high school diploma or equivalent plus twelve (12) or more years of previous lending experience or demonstrated superior performance.

Knowledge of complex lending terminology, scenarios, and documents.

Must be able to work in multiple GLs with the ability to research, balance, and reconcile entries.

Ability to interpret credit bureaus with an understanding of credit composition and FCRA (Reg V).

MAJOR ACCOUNTABILITIES (major responsibilities of the position):

Processes loan payoffs from various sources, including insurance proceeds or after-market GAP claims.

Administers the CPI program.

Reconciles after-market product sales, issued policies, and GL entries.

Oversees loan records and required changes.

Ensures loan documentation is accounted for and consistent with regulatory requirements.

PHYSICAL REQUIREMENTS (sitting, walking, climbing, lifting, etc.)

Ability to tolerate periods of continuous sitting.

ENVIRONMENTAL CONDITIONS (indoors, outdoors, desk, etc.)

Work is primarily performed within a cubicle office setting. Subject to standard background noise found in a cubicle environment.

Note: Staff is expected to perform various tasks, projects, and administrative duties as assigned.

Management reserves the right to assign or change duties and tasks to this position at their discretion.

Salary Range (Hourly):

LSS I - $19.00 - $23.12

LSS II - $20.76 - $25.95

LSS III - $22.67 - $28.34

LSS Sr. - $25.21 - $31.52

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Loan Servicing Specialist I/II/III/Sr.