Job Description

Job Description

Job Description

About Company:

Since 1915, Home State Bank’s goal has been to create a better quality of life for our neighbors and to work together to build a better community. Today, that goal is still the cornerstone of our success. We believe that relationships with our customers are our most important assets and we strive to provide the best service possible every day.  

  Northwest Herald "2024 McHenry County Top Workplace Reader Choice Awards"

• TOP Workplace: Financial Institution/Service
• TOP Workplace: Large Employer (over 100 employees)
• TOP Professional Services
• TOP Family-owned Business
• TOP Business-to-Business Company
• One of the Top Workplaces: Giving Back to the Community

Daily Herald “2022 Best Places to Work in Illinois” 

• Ranked 10th for Medium Business (100-499 employees)

We are proud to be a diverse workforce that is representative, at all job levels, of the customers we serve.  Home State Bank is an equal opportunity employer. All aspects of employment including the decision to hire, promote, discipline, or discharge, will be based on merit, competence, performance, and business needs. We do not discriminate on the basis of race, color, religion, marital status, age, national origin, ancestry, physical or mental disability, medical condition, pregnancy, genetic information, gender, sexual orientation, gender identity or expression, veteran status, or any other status protected under federal, state, or local law.  

About the Role:

The Loan Servicing Specialist plays a critical role in managing and maintaining the lifecycle of various loan products, including home mortgages, home equity loans, personal loans and auto loans. This position ensures accurate processing, documentation, and compliance with regulatory requirements such as the Bank Secrecy Act, while providing exceptional service to borrowers. The specialist will collaborate closely with loan processors, underwriters, and other financial professionals to resolve issues and facilitate smooth loan servicing operations. Attention to detail and a thorough understanding of loan documentation and servicing procedures are essential to mitigate risk and maintain the integrity of loan portfolios. Ultimately, this role contributes to the financial institution’s success by ensuring loans are serviced efficiently, accurately, and in compliance with all applicable laws and policies.

Minimum Qualifications:

• High school diploma or equivalent.
• Minimum of 2 years experience in loan servicing, loan processing, or a related financial services role.
• Familiarity of home mortgage loans, home equity loans, and loan documentation processes.
• Proficiency with loan servicing software (Fiserv) and Microsoft Office applications.

Preferred Qualifications:

• Experience working in a bank or financial institution environment.
• Advanced knowledge of loan servicing systems and compliance software helpful.
• Strong analytical and problem-solving skills with the ability to manage multiple priorities.
• Excellent communication skills, both written and verbal, to effectively interact with borrowers and internal teams.

Responsibilities:

• Manage the day-to-day servicing of residential loan portfolios, including home mortgages and home equity loans along with an understanding of auto loans and personal lines.
• Review and process loan documentation to ensure accuracy, completeness, and compliance with internal policies and regulatory requirements.
• Monitor loan payments, escrow accounts, and delinquencies, taking appropriate action to resolve issues and communicate with borrowers as needed.
• Collaborate with loan processors, underwriters, and compliance teams to address discrepancies, update loan records, and support audit activities.
• Ensure adherence to the Bank Secrecy Act and other relevant regulations by maintaining proper documentation and reporting suspicious activities.
• Provide timely and professional customer service to borrowers, answering inquiries and resolving servicing-related concerns.
• Maintain detailed records of loan servicing activities and prepare reports for management review.

Skills:

The required skills such as expertise in home mortgages, and loan documentation are applied daily to accurately process and manage loan accounts, ensuring compliance and customer satisfaction. Knowledge of mortgage loans and home equity products enables the specialist to handle diverse loan types and resolve complex servicing issues efficiently. Familiarity with the Bank Secrecy Act is critical for identifying and reporting suspicious activities, maintaining regulatory compliance. The role demands strong organizational and communication skills to coordinate with loan processors, underwriters, and borrowers, facilitating smooth loan servicing operations. 

Compensation details: 18.55-27.81 Hourly Wage

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