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Loan Servicing Representative

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Posted: 08/07/2022

Loan Servicing Representative

The Loan Servicing Representative performs various clerical and administrative functions in support of the loan servicing function in conformance with established Credit Union policies and procedures.


Performs functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to members served by the Credit Union.

  1. Maintains tickler system for escrow accounts pertaining to homeowners insurance and private mortgage insurance. Processes the premium payments required, updates accounts in the system and maintains insurance coverage filing system.
  2. Processes various transactions including mortgage and equity payoffs and charge offs. Completes the daily loan non-post report, reviews various systems reports for payment errors and corrects payment posting errors.
  3. Performs the booking of all new direct and indirect consumer loans and verifies the accuracy of systems input for all loans.
  4. Processes paid notes and discharges titles and mortgages on secured loans.
  5. Responsible for the timely remittance of quarterly or semiannual real estate taxes for all escrow mortgage accounts.
  6. Responsible for the processing of all mail, answering telephones, and responding to member inquiries. Follows up to resolve member issues within scope of expertise.
  7. Maintains the on-line title tracking system and performs all necessary follow up to obtain missing certificates of title.
  8. Performs quality control on loan folders including consumer loans, overdraft accounts and home equity loans and lines. Performs follow-up for missing documentation.
  9. Performs various tasks associated with preauthorized transfers internal and external on all loans.
  10. Assists members with the processing of all necessary paper work associated with disability and credit life insurance claims.
  11. Balances monthly insurance premium report for consumer loans and reconciles general ledger account regarding credit life and disability. Balances and remits payment for monthly credit life and disability mortgage insurance premium.
  12. Responsible for entering all new mortgages to the system. Performs quality control on the mortgage file. Performs follow up with attorneys for missing documentation.
  13. Adheres to all LCU policies and procedures. Responsible for compliance with the following regulations: BSA, OFAC, and other regulations as required.
  14. Performs other clerical and loan servicing duties and functions including typing, photocopying, stuffing and sorting bills, filing, etc., as assigned or requested.

High School diploma or equivalent. Six to twelve months related business office experience. Good organizational and communication skills. Attention to detail required. Working knowledge of Microsoft Word and Excel is preferred. Ability to utilize various types of office equipment, including PC.


Employees are expected to exhibit LCU’s core values, You’re Somebody, Own It, Work Together, Be Caring, in all interactions with internal and external members to achieve the credit union’s goals and support a culture of inclusion.

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