Business Services Servicing Assistant Location Kingsport, TN : Eastman Credit Union is seeking a Business Services Servicing Assistant. The Business Services Servicing Assistant ensures business loans are efficiently and accurately serviced and maintained. Maintain reports for property tax and insurance status on member business loans (MBLs). Provide backup for MBL processing and funding. Research member and staff inquiries and respond to them in a timely manner according to compliance rules and regulations. Assistants will be assigned primary responsibilities which may include: taxes, insurance, flood insurance, managing force placed insurance as needed, manage request for changes to escrow, manage adjustable-rate changes, escrow analysis and disbursements, paid off loans, insurance claims, and Home Mortgage Disclosure Act (HMDA) auditing and reporting. Essential Duties and Responsibilities include the following. Other duties may be assigned. Track and monitor insurance coverages, flood zone, and flood insurance requirements for all escrowed and non-escrowed loans. Update vendor records for cancelled and paid off loans to correspond with active MBLs. Initiate force placed insurance on loans when members fail to maintain required insurance. Verify annual property tax payments. Provide status reports on property tax status and insurance coverages for MBL portfolio. Update hazard insurance, flood insurance, etc. and confirm evidence of insurance is maintained and uploaded into loan origination system. Audit information entered by loan funding into Core System for property tax records, insurance, escrow payment, and escrow payee information. Review and Process Escrow Accounts Verify system notices for rates, payment changes, etc. are delivered on MBLs. Verify requests for property tax bills. Insure annual escrow analysis, member notification of overages/shortages, and adjust escrow payments accordingly. Insure delivery of annual escrow analysis letters. Verify YTD figures for 1098 reporting Home Mortgage Disclosure Act (HMDA) Audit all HMDA reportable loans on a monthly basis Upload to LAR System on a quarterly basis Submit to Compliance department at year end Monitor and report status MBL UCC filings and renewals. File timely UCC continuations. Complete business loan verifications at request from other lenders. Prepare loan payoff statements for closing agents and members. Compile MBL payoff report. Process paid loan and releases, subordinations, and partial releases. Process releases for real estate, assignments, possessory, title, and UCC collateral. Maintain/Organize loan files in storage Process and mail Adverse Action Notices on denials. Monitor and update Withdrawal tacking log. Prepare and mail payment coupons as requested by members. Respond to member and staff inquires concerning any aspect of servicing business loans. Respond to all member requests for correction to payments. Responsible for MBL payment reversals/corrections. Work with Asset Recovery in determining insurance needs on any foreclosed properties. Coordinate with members and Collateral Loan/Construction Coordinator regarding insurance checks for property damage. Notate insurance holds on accounts and scan applicable documents into loan origination system. Perform all required core system maintenance to deceased member's business loans. Establish escrow accounts on existing loans at member's request or ECU requirements. Assist Auditing with follow up items needed on booked loans. Test updates to core operating system for processes/transactions relating to servicing business loans. Assist with administration functions of department. Includes account payable processing, supplies, team meeting minutes, etc. Perform other duties as assigned from time to time. Required Experience Associate's degree (A. A.) or equivalent from two-year college or technical school; or six months to one year related experience and/or training; or equivalent combination of education and experience.
