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Loan Services Specialist II

77% Flex
Full Remote
Senior (5-10 years)
  • Remote from:United States
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Loan Services Specialist II

77% Flex
Remote: Full Remote
Experience: Senior (5-10 years)
Work from: United States...

Offer summary


High School Diploma or equivalent, 5 years financial institution experience, Thorough understanding of state and federal regulations, Familiarity with Microsoft Office programs.

Key responsabilities:

  • Provide exceptional loan servicing to internal and external members
  • Cross-functional collaboration for strategic loan projects
  • Monitor insurance and tax requirements for member accounts
  • Process loan data with accuracy and in compliance with regulations
Bay Federal Credit Union logo
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Bay Federal Credit Union


201 - 500 Employees

Job description

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Your missions

What we’re looking for:­­

The Loan Servicing Specialist II is responsible for servicing internal and external members needs after a loan has funded. They perform data entry, resolve escalated internal member calls and questions, while providing exceptional service to internal and external customers. The Loan Servicing Specialist II serves as a resource on loan servicing tasks described below by responding to requests via phone, email, and written correspondence, while maintaining policies and procedures to ensure regulatory compliance.

What you’ll do:

  1. Promote and maintain a positive image of Bay Federal at all times to all personnel, members, volunteers, vendors and the community.
  2. Provide a positive member service experience while focusing on Bay Federal’s accepted practices, policies, productivity, and effectiveness.
  3. Remain knowledgeable of regulatory changes affecting loan products and services adopted by federal regulatory agencies such as the Federal Reserve, the National Credit Union Administration, and the Consumer Finance Protection Board.
  4. Remain current on all loan servicing processes and procedures and servicing regulations for real estate, consumer, and commercial loan programs, including secondary market requirements.
  5. Perform quality control audits of system data for new loans and ensure that all pertinent loan information is accurately transferred from loan origination systems to the Core banking system and periodically sample billing notices for accuracy and data validation.
  6. Process member requests on their loan accounts, including but not limited to, due date changes, skip payments, pre-authorized internal/external electronic transfers, check payments, payment coupons, and coupon reorders.
  7. Review, evaluate, and take corrective action on exception reports produced by the core banking and vendor software systems.
  8. Investigate and resolve member complaints and service issues related to payment and disbursement transactions, billing statements, fees, credit reporting disputes, address discrepancies, loan terms, etc.
  9. Initiate life, disability, GAP, warranty, total loss insurance claims and policy cancellations. Calculate and credit or refund prorated accrued interest to member accounts on an exception basis.
  10. Monitor and track insurance and tax requirements for members’ impound accounts in accordance with federal regulations, including the timely and accurate payment of property taxes, hazard insurance, flood insurance, and/or mortgage insurance premiums. Monitor reserve accounts and performs escrow analysis and related disbursements.
  11. Research and update current variable rate indexes in the Core banking system.
  12. Investigate, identify, and implement necessary corrections to credit bureau reporting data.
  13. Ensure the perfection of collateral securing the Credit Union’s loans (DMV titles, Deeds of Trust, UCC financing statements, deposit accounts, etc.)
  14. Ensure the accurate and timely closeout of paid off loans, including the release of collateral and timely cancellation of all third-party loan maintenance services upon satisfactory repayment.
  15. Assist with the testing, upon request, of all Core system updates and releases that directly affect loan product features and services.
  16. Provide support to other credit union employees in the resolution of technical and procedural issues related to the Core system and other lending systems.
  17. Perform other duties as assigned, including but not limited to, special projects requiring extensive knowledge of Credit Union and department operations, policies, procedures, and regulatory compliance.
  18. Assist in the reconciliation of the internal and investor loan portfolios with loan records monitored by various service providers under contract with the credit union such as flood determination, tax service, collateral protection, credit bureaus, and others.
  19. Process changes to available lines of credit and notify members of forthcoming and/or matured loan accounts within established timeframes.
  20. Identify, calculate, and remit daily payments to loan investors in accordance with investor loan regulations such as Fannie Mae and Advantis.
  21. Review loan data, forms, and loan calculations for accuracy and processes loan charge-offs, modifications, settlements, and extensions, as directed, and in accordance with generally accepted accounting practices.
  22. Review, edit, and process year end data for federal tax forms such as 1098s for mortgages and 1099Cs for all charged off loan balances.
  23. Participate in inter-departmental training for new and existing employees on loan payment processing, securing and releasing collateral, including maintenance and disbursement of insurance and tax payments.
  24. Periodically draft, review, and update standardized member letter templates regarding loan accounts.
  25. Review all process all mortgage and consumer insurance claim checks in accordance with corporate and investor policies and procedures. Act as liaison between service representatives, insurance agents, and members when necessary.
  26. Draft, review, and update, upon request, internal policies and procedure documents and the intranet to ensure that current practices and procedures are documented and followed.
  27. Use courteous and professional communication and collaborative skills while working with internal peers and external vendor representatives to identify and resolve loan related issues.
  28. Effectively work cross-functionally with other divisions/departments throughout the credit union, as directed, to assist in the planning and implementation of strategic loan related projects.

What you bring to the Credit Union: 

  • High School Diploma or equivalent is required; a BA/BS is preferred.
  • Must have a complete understanding of common lending processes and terminology.
  • Minimum of 5 years financial institution experience and a minimum of 3 year lending or loan servicing experience are preferred.
  • Must have a thorough understanding of all state and federal regulations that affect consumer and mortgage loan servicing.
  • Ability to identify process or program deficiencies and make recommendations for system and/or process improvements.
  • High proficiency in Microsoft Office software programs, including Word, Outlook, and PowerPoint, and Internet/Intranet navigation skills are required.
  • Intermediate to advanced knowledge of Microsoft excel is required and proficiency in SQL is preferred.

Why work for us:

  • Positive and fun work culture 
  • Rated #1 Credit Union to Work For by CU Journal 
  • Best Places to Work in the Bay Area (SF Business Times/Silicon Valley Journal)
  • Benefits – Medical, Dental, Vision and more
  • 401k Matching – $1 for $1 company match up to 5% of pay
  • Eligibility to participate in annual bonus plan
  • Paid vacations and holidays
  • Our hybrid with flexibility approach combines the flexibility of remote working with the benefits of in-person, quarterly collaboration and all staff meetings
  • Employee Assistance Program that supports 6 face-to-face sessions per person, per reason, for you and your household
  • We invest in your professional growth & development
  • A wellness program that supports your physical, financial, and emotional health

Bay Federal is proud to offer a competitive, robust compensation and benefits package.  Bay Federal considers many factors in determining base pay such as experience, education/training, internal peer equity, job location, and other business considerations when extending an offer. For Santa Cruz, CA only, the pay scale Bay Federal reasonably expects to pay for this position is $24 – 30 hourly. Salaries are based on the geographic location in which you live if working remotely.

Bay Federal provides health care benefits, life and disability insurance, paid holidays and 401k with a company match to eligible employees; along with employee paid voluntary benefits. Paid time off is accrued per paycheck for eligible employees at a rate based on your tenure. Leaves of absences are available in adherence with state and federal regulations.

Bay Federal is committed to providing equal employment opportunity for all persons regardless of age, disability, national origin, race, color, religion, sex, sexual orientation, gender, gender identity or expression, pregnancy, veteran or military status, marital and civil partnership/union status, alienage or citizenship status, creed, genetic information or any other status protected by applicable federal, state, or local law.

For CCPA's requirements regarding security practices and procedures, please see our privacy page here ( Bay Federal Credit Union takes our obligation to keep our member's data safe and secure and adhere to industry standard best practices. 

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Required profile

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Level of experience :
Senior (5-10 years)
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Spoken language(s)
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Soft Skills

  • Team player
  • Excellent communication skills
  • Attention to detail
  • Problem-solving aptitude

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