Loan Operations Specialist III

Position Number: Loan Opps
Location: San Jose, CA
Hours: M-F

Position Summary:

Under general supervision, the Loan Operations Specialist III is responsible for the processing, funding
and servicing of mortgage loans (1-4 family, 5+ unit apartment), SBA (7A and 504) and commercial (CRE)
loans. Review executed loan documents, process and fund loans based on established policy,
procedures and guidelines. Ensure each loan meets applicable federal and state requirements. Work
with internal and external customers including escrow and title firms to obtain required information,
documentation and conditions in order to fund loans in a timely manner.

Responsibilities:

MAJOR RESPONSIBILITIES / DUTIES
The incumbent is expected to work interchangeably among Mortgage Loan and Commercial Loan responsibilities.

Loan Closing & Funding
Prepares loan closing documents. Coordinates loan documents and secures borrower’s signature(s).
Funds loans and deposits or transmits funds in accordance with settlement instructions. Coordinates and interacts with title firms for verification of recording documents, and/or discussing issues.
File Set-up
Performs file setup for 1-4 family, 5+ unit apartment, SBA, and commercial loans; and performs post-close monitoring.
Responsible for loan file room and loan file cabinet maintenance.
Communicates and interacts with investors and Special Assets Group Loan staff to mitigate loan losses.
Investor Reporting
Implements timely investor reporting and account reconciliation.
Assists own manager with Secondary Marketing work by reviewing and preparing files for shipping and performing investor data input.
Ensures that current Investor reporting technology is implemented and used for Investor Accounting and Reporting work.

Disbursements and Servicing
Performs escrow analysis and disburses funds from Escrow to appropriate agencies when due.
Receives and processes demands for loan payoffs, modifications and subordinations.
Processes payoffs and prepares Deeds of Re-conveyance in accordance with credit union and investor policies and procedures.
Prepares and processes all pertinent documentation necessary to resolve servicing issues.
Posts fees to and balances associated general ledgers. Tracks, pays and if needed, forces places insurance (flood, hazard, HUD etc.).
Performs final file review (including final HUD) and documents receipt of original recorded deed of trust and that Technology Credit Union is assigned the correct lien position on the final title policy.
Adheres to all auditing procedures designed to document the lending process and provide the proper checks and balances.

WORKPLACE ESSENTIALS

Supports the Credit Union’s Mission & Vision and Lives the Tech CU Values (Accelerate, Collaborate, Innovate, & Cultivate).
Meets on a monthly basis with manager to discuss goal alignment, performance metrics, and development plans.
Adheres to Policy & Procedure put forth in employee handbook; upholds employee Code of Conduct/Ethics, and ensures confidentiality of the workplace.
The employee will comply with all rules and regulations as defined by applicable regulatory agencies. The employee will also adhere to all internal controls and security measures designed to ensure regulatory compliance with State and Federal laws.

Qualifications:

Typically has at minimum:

Education: H.S. Diploma required (college degree preferred) plus additional vocational education. Courses in related business areas necessary to maintain position proficiency.

Experience: 4+ years’ increasingly responsible experience in related areas, including FNMA/FHLMC servicing, and/or Commercial (CRE & Construction) Loan Processing or Funding in a financial institution.


Knowledge/Skills: Has sufficient job proficiency in both Mortgage Loans and Commercial Loans to work interchangeably among both desks. Demonstrated proficiency with M.S. Excel. Basic accounting and reconciliation skills. Strong organization and verbal and written communications skills. Knowledge of Real Estate Loan Servicing rules, regulations, policies, and procedures. Strong sales/service and team orientation.

Physical Requirements: Ability to sit 85% of the day. Keyboard and read computer screen for 90% of time during which one is seated. Daily lifts files weighing up to 15 lbs. Performance of filing duties includes repetitive hand motion for 15% of day.


THIS POSITION DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THE INCUMBENT EMPLOYEE. HE OR SHE MAY BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES/PROJECT RESPONSIBILITIES AS DIRECTED BY HIS OR HER MANAGER.

Starting Pay Range:

$44,000-$54,000



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