Job Details
Job Type
Full-time
Description
Cornerstone Bank was formed in 2017, born of a long history of supporting the community, and providing a strong foundation to help people and businesses thrive. Serving Worcester County, Cornerstone Bank's local presence and community-based banking model enables a unique ability to deliver outstanding service, with a personal touch. Cornerstone provides the highest level of service and expertise for individuals, businesses, and community organizations with branch locations throughout Central Massachusetts.
Cornerstone Bank is committed to providing a collaborative workplace where innovation, teamwork, accountability, and excellence are recognized and where employees are encouraged to broaden their skills, seek opportunities for professional development, serve their community, and provide outstanding customer service with each encounter.
Being a part of the Cornerstone team has many great benefits and perks. This includes a competitive pay, a generous student-loan paydown program, comprehensive benefit package including, medical, dental, vision insurance and even pet insurance! We offer a 401(k) plan with an employer contribution and match, success-sharing bonuses, paid time off and more!
If you are looking to join a team that is committed to your ongoing professional growth and development, we are looking forward to speaking to you!
We are currently looking for a Loan Servicer to join our team. This position will perform all escrow processing, investor servicing, and research to real estate secured loans and consumer loans with attention to detail and within service level agreements. This position will work directly with insurance and tax vendor, as well as Investor servicing representative to resolve any exception errors and day to day processing. The primary goal is to perform all necessary transactions to ensure accurate and timely disbursement of escrow funds, reporting of investor required information, and year end reporting. Cornerstone Bank has a commitment to excellence and an extremely high level of customer service standards.
Responsibilities and Accountabilities
- Respond to all inquiries by internal and external customers of the Bank courteously and professionally.
- Perform all necessary transactions to ensure accurate and timely disbursement of escrow funds to all types of insurance companies, county real estate tax offices, government agencies and others.
- Perform all necessary transactions including but not limited to payoff remittance and monthly delinquency reports to ensure accurate and timely reporting and remittance of funds to all Investors, such as FHLMC, FNMA, GNMA, and FHLB.
- Audits final closing documents for completion. Follows up on missing or incomplete information. Responsible for quality control program for closed loans and loan setup process. Follows up on missing documentation required for loan files.
- Perform periodic review and annual review of all escrow activity for each account maintained by the Bank in order to ensure accuracy on the annual Escrow Analysis Statement and 1098 interest statement. Monitors all non-escrow accounts to ensure all customers are current on real estate taxes and insurance due.
- Complete all real estate loan servicing requests with attention to detail and customer service. Examples of requests to be performed include, but are not limited to; processing real estate loan payoffs, cancelling private mortgage insurance, loan modifications and subordinations
- Review boarded loans for accuracy and processes new loan disbursements.
- Prepares and reviews a variety of periodic reports, e.g., missing loan documentation, paid loan, delinquent taxes, expired insurance, etc.
- Checks rate reviews and prepares correct notices to customers and maintains proper documentation
- Serve as primary resource for validation, error correct, and complete transactions to ensure a seamless and accurate completion of all department projects and initiatives. Ensure compliance with all State and Federal regulations as well as all bank policies and procedures.
- Communicate with other departments to process general requests and reconcile any accounts associated with real estate servicing
- Work in collaboration and partnership with other team members
- Willingness to learn and ability to adapt to change
- Contributes to a collaborative and positive work environment
- Keeps manager informed of customer complaints and problems as well as any follow up actions.
- Supports the Banks quality initiative through teamwork and quality of service to internal and external customers
- Perform all other duties assigned
- Attends meetings and seminars as requested by supervisor.
Secondary ResponsibilitiesThe Loan Servicer performs duties specific to the position and other functions as assigned.
* Attend or complete required BSA/AML training as provided.* Responsible for compliance with BSA policies and procedures including the identification and reporting of suspicious activity, and other BSA job specific duties.Requirements
Qualifications- Must be very detail-oriented and able to meet strict deadline
- Excellent understanding of the Bank's mortgage and consumer loan products and services
- Must possess excellent communication, organizational, customer service, interpersonal, and computer skills
- Ability to use various types of office equipment, including personal computer and peripheral devices
- Available to attend meetings and seminars as requested by supervisor
- Ability to work collaboratively and in partnership with other team members to support Cornerstone Bank's quality initiative through teamwork and quality of service to internal and external customers
- Ability to contribute to and lead a positive work environment
- Willingness to learn and ability to adapt to change
Education/Training/Experience- High School diploma plus specialized course work and training
- Sr Loan Servicer - Two plus years lending experience
INDEPENDENT ACTION Performs work independently within scope of established guidelines and practices. Consults with Manager where clarification or exception to Bank policy may be required.
NOTE: These statements are intended to describe the general nature and level of work involved for this job. It is not an exhaustive list of all responsibilities, duties and skills required for this job.
Cornerstone Bank is an Equal Opportunity Employer. In compliance with Equal Opportunity Guidelines and the Americans with Disabilities Act, Cornerstone Bank provides reasonable accommodations to qualified individuals with disabilities and encourages both prospective and current employees to discuss potential accommodations with the employer.