Senior Consumer Loan Servicing Specialist

GENERAL SUMMARY

Under the general direction of the Loan Servicing Supervisor, following established Bank policies and procedures and industry regulations, performs duties related to the servicing of the Bank's consumer loan portfolio. The essential functions are described below.

ESSENTIAL FUNCTIONS

• Complete all job duties pertaining to servicing loans sold to Freddie Mac including, but not limited to, daily and monthly remittance of payments, status updates in Freddie system, and reconciliation of custodial accounts.
• Assign new loan boarding files and monitors for booking completion.
• Review exception reports and corrects errors, as required.
• Resolve escalated issues by determining the cause of the problem, selecting and explaining the best solution to solve the concern, expediting the correction or adjustment, and follows up to ensure resolution.
• Perform callback of assigned new loans booked .
• Respond to inquiries from both internal and external customers via email or through the Call Center by professionally answering borrower's questions and concerns regarding the servicing of their mortgage loans to include: billing statements, misapplied payments and other servicing functions while maintaining the confidentiality of customer information.
• Ensure all customer issues and complaints are resolved in a timely manner including escalating the complaint to management.
• Provide support to ensure all customers' requests are processed in a timely and accurate manner by assigned staff. For example, third parties and internal staff for payment histories, amortization schedules, duplicate 1098 statements, payoffs, verification of mortgage, documentation requests, setup-change-cancellation of autopayment, etc.
• Book the purchased loans and balances to GL entries required for the purchase.
• Assist other processors periodically to process payment and payoff funds, return items, review and clear non-posted Lockbox payments, review and clear system posting rejects and unapplied funds, and clear Loan WIP account of loan payments.
• Review payoff demands and verification of mortgage.
• May be asked to coach, mentor, or train other staff.

QUALIFICATIONS

Education: High school graduate or equivalent. Education or experience should include courses in accounting, finance, and/or bookkeeping.

Experience: 5+ years in Loan Servicing and a thorough understanding of consumer loan servicing products and Freddie Mac Investor reporting required. Strong knowledge of state and federal banking regulations and procedures with regulatory requirements including but not limited to CFPB, FCRA, HMDA, RESPA, Reg Z, SCRA, TILA, and UDAAP.

Skills/Ability:

• Self-motivated with ability to work independently and able to prioritize and meet deadlines.
• Proven ability to think independently and use sound judgment.
• Strong problem-solving and analytical skills.
• Strong organizational skills, can manage time and priorities, and adhere to deadlines.
• Able to accept responsibility for and handle confidential information.
• Excellent follow-through skills.
• Strong written and verbal communication skills, with ability to express self clearly and effectively in writing as well as on the telephone.
• Strong knowledge of basic accounting.
• Working knowledge of MS Windows, PC spreadsheets and PC word processing. Familiarity with networked computer systems, mainframe, and IBS loan system a plus.
• Ability to work in a fast-paced environment while maintaining a high level of accuracy.
• Bilingual (Mandarin or Cantonese) is a plus.

OTHER DETAILS

$32.98 - $35.43 / hour
Pay determined based on job-related knowledge, skills, experience, and location.
This position may be eligible for a discretionary bonus.

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

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Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We believe in diversity, equity, and inclusion in the workplace. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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