Job Description
COCC’s client, a well established credit union in the Southern Boston area, is looking for a Senior Loan Servicing Specialist to play a key role in servicing residential and consumer loan portfolios. This position is ideal for a detail oriented professional who thrives in a fast paced lending environment and enjoys being a trusted subject matter expert. Along with managing complex servicing functions, this individual will provide day to day guidance and mentorship to two junior Loan Servicing Specialists.
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What You’ll do...
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• Manage life of loan servicing activities for residential and consumer loans
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• Fund and process newly originated residential loans
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• Conduct loan file quality control reviews and scanning
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• Prepare wires and process FHLB custodial account funding
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• Package and deliver closed loan files to FHLB
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• Generate payoff quotes and process loan payoff transactions
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• Handle collateral releases, discharges, and file maintenance for paid loans
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• Monitor and resolve servicing reports related to PMI, LTV thresholds, HELOCs, and final payments
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• Process HELOC repayment conversions and member notifications
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• Review Miniter invoices and weekly servicing uploads
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• Process PMI payments and required reporting
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• Ensure compliance with insurance, escrow, PMI, and flood servicing requirements
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• Review daily insurance and tax servicing communications
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• Process insurance related payments from loan escrow accounts
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• Complete approved loan modifications, subordinations, and payment frequency changes
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• Maintain Treasury index updates and ARM adjustment notices
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• Process monthly Mass Save reporting requirements
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• Respond to member inquiries and manage servicing communications
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• Complete verification requests and support payment processing workflows
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• Review Insight reports, document findings, and communicate issues as needed
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• Serve as a mentor and resource for two junior Loan Servicing Specialists
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• Perform additional duties as assigned
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What You’ll bring...
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• High school diploma, GED, or foreign country equivalent
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• At least five years of related or direct experience
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• Proficiency with Microsoft Office and software applications assigned to the role
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• Ability to perform assigned responsibilities accurately and efficiently with minimal reminders and corrections
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• Strong written and verbal communication skills
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• Ability to evaluate information and apply critical thinking to solve problems
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• Participation in ongoing industry and compliance training
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This is on-site position. The salary range is $80,000 - $85,000 annually.