• Job Description

  Req#: 102047

  Job Details

  Job Location: Meriden CT - Meriden, CT

  Salary Range: Undisclosed

  Description

  Job Summary

  The Loan Operations Specialist II will monitor and generate all written communication timely and accurately for all special loan portfolios consisting of Balloon, Adjustable Rate (ARM), Loan Modification process and Service Members Civil Relief Act (SCRA) loans. This position will be responsible for error resolutions of special loan products and process changes/updates to reduce ongoing inaccuracies. The Loan Operations Specialist II, will be the point person for initial internal department questions regarding the processing of special loan functions. This position will support training of special loan functions including reports and MSP data processing.

  Essential Duties and Responsibilities

  • Updates and reviews the MSP system with all new indices used in the calculation of the ARM portfolio. Ensures appropriate correspondence is sent to borrowers in compliance with applicable law and agency guidelines. Review upcoming changes to ensure all ARM data is accurate and consumer disclosures are sent timely. Supports other members of the team on ARM training and awareness.
  • Performs system maintenance and ensures proper documentation for all adjustments made for critical loan data including changes for loan modifications, due date changes and/or deferments. Ensures appropriate correspondence is sent to borrowers in compliance with applicable law and agency guidelines. Provides support to newer member of the team to ensure department is following process uniformly.
  • Completes all data requirements within MSP for Step Rate Modifications, Balloon Loan, Deferred Interest Loan, Pay Option ARMs and any other acquired special loan population that will need specific MSP data requirements. Ensures appropriate correspondence is sent to borrowers in compliance with applicable law and agency guidelines and provides support to other member of the team on training and awareness of these special loan requirements.
  • Maintains, updates and produces reports for special loan functions to help support the team and identify data discrepancies within current loan portfolio and incoming loan populations.
  • Performs miscellaneous duties as assigned.

  Position Requirements

  Education

  • High school diploma or equivalent required
  • Associated Degree Preferred

  Experience

  • Loan servicing experience preferred
  • Full understanding of Balloon, Adjustable Rate Mortgage (ARM), and SCRA loan documents preferred
  • Understanding of FHA, VA, USDA Government loan products preferred

  Functional/Technical Skills

  • Effective verbal and written communication skills with ability to instruct members of team.
  • Some reporting experience and data analytics
  • Experience using Microsoft Office
  • Intermediate Microsoft Excel skills
  • Displays strong organizational skills and manages time effectively
  • Ability to multi-task and deal with competing priorities
  • Ability to meet deadlines
  • Ability to adapt to a changing environment
  • Ability to understand and utilize investor guidelines

  Benefits

  Our benefits package includes 3 comprehensive Cigna or Kaiser medical plans, dental, and vision insurance. We provide short term and long-term disability insurance, basic life insurance, 401(k), and 10 employer paid holidays. In addition, we offer supplemental benefits to include life insurance, critical illness and accident plans.

  Environmental/Physical Demands

  Work is typically preformed in a standard office environment. 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. While performing the duties of this job, the employee is regularly required to sustain predictable work attendance, communicate with others, frequently required to stand, walk, sit, and use arms, hands and fingers to reach, handle or touch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus.

  Pursuant to the Americans with Disabilities Act, reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  This job description is not designed to cover or contain a comprehensive listing of all activities, duties or responsibilities that are required of an employee. The Company reserves the right to amend or modify this document at any time and without notice.

  Qualifications

  
  

• About the company

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