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POSITION: RESIDENTIAL LOAN SERVICING SPECIALIST

Summary:

This staff member will be a part of a team of Loan Servicing Specialists that are responsible for the funding, booking, transaction processing, payoffs, discharges, the quality control, post-closing and booking of all new Mortgage and Consumer loans. Additionally, he/she will be assisting with reviewing, tracking and following up on missing or incorrect loan documentation for Mortgages and Equity Loans submitted by Attorneys, Correspondent Lenders and Branches identified during the post-closing review process and in accordance with department objectives and policies and Federal and State Laws. The Loan Servicing Specialist will also ensure accurate and prompt processing of all mortgage, title policies and other pertinent loan documentation in support of loans sold on the secondary market.

 Key Result Areas:  

  • Responsible for reviewing closed mortgage and equity documents for accuracy in accordance with Federal, State, Bank Compliance and Investor standards.

  • Responsible for the quality control of all new residential mortgage and consumer loans.

  • Responsible for identifying any incorrect or missing monetary closing exceptions and ensuring prompt resolution of all identified errors.

  • Responsible for administering, maintaining and documenting the status of all loans in the Loan Origination System(s), which includes identifying closing documentation (received, missing or incorrect), preparing and maintaining applicable reports, tracking the status of loans through the post-closing process.

  • Responsible for the preparation documents for new Equity Mortgages and discharges of existing mortgages and sending these documents for recording to Attorneys or other vendors and contacting these vendors for the GAP Insurance Certificates or Title Policies, which confirms that the Bank has received insurance coverage for each of the mortgages sent for recording.

  • Responsible scanning the closing documentation into the Loan Origination System in addition to transferring the files to the Document Imaging System.

  • Responsible for uploading post-closing files to Bankers Advisory’s portal on a weekly or bi-weekly basis.

  • Assist with the tracking process of the Bankers Advisory’s exceptions.

  • Responsible for the destruction of the scanned post-closing files in accordance to the department’s destruction procedure.

  • Responsible for the storage of new residential mortgage and consumer loan notes in the vault.

  • Perform FDICIA Testing.

  • Responding to customer requests.

  • Responsible for meeting all Department Service Level Agreements.

  • Perform special projects as may be required.

  • Perform additional duties as required.

Qualifications: 

  • College education or equivalent work experience.

  • 5 years' banking experience, preferably in loan servicing or bank operations.

  • Strong communication skills, both written and oral, and interpersonal skills.

  • Excellent customer service, problem resolution skills and strong PC skills.

  • Working knowledge of residential and consumer loan documents preferred.

  • Ability to interact with internal and external customers effectively.

  • Ability to meet deadlines along with excellent time management skills.

The above description covers the most significant responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job. 

Location:       

Waltham, Massachusetts 

About Cambridge Savings Bank: 

Cambridge Savings Bank is a full-service financial institution with approximately $4 billion in assets that is committed to improving the quality of life in the communities it serves. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Melrose, Newton, and Watertown.

Cambridge Savings Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.