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First Commonwealth Bank · 1 month ago

Credit Services Representative I - Loan Payoff

Indiana, Pennsylvania, United States

Full-time

Onsite

Entry Level

2+ years exp

First Commonwealth Bank is a financial institution seeking a Credit Services Representative I to ensure the integrity of collateral and loan files. The role involves processing loan payoffs, preparing quotes, and providing customer support regarding loan processing inquiries.

Banking

Responsibilities

Process 3rd party payoffs that come into the department via checks, wires, electronic payments, etc. utilizing the SilverLake loan system

Provide payoff quotes both verbal and written as requested by internal parties as well as external clients and third parties using SilverLake system and fee schedule

Assess prepayment penalty fees, early termination fees, lien release fees, and other fees associated with the payoff of loans

Coordinates necessary internal documents needed for the process of wire transfers and checks to pay off all loan types, process refunds and refund letters to clients

Process release of collateral as approved by loan modification requests

Process release of collateral for paid off loans in a timely manner, including but not limited to: life insurance, stocks, real estate, UCCs and vehicles

Maintain/update a log of service events and email requests assigned to group

Process maintenance related service events and email requests, including but not limited to: payment reversals, backdated payoffs, payoff quotes, and waivers

Maintain various daily, weekly and monthly reports to update customer records concerning: (i) collateral, (ii) insurance, (iii) refinances and (iv) unposted items

Work the Unposted Report daily as provided by Payment Processing in order to rectify items that were not posted correctly to the loans on the previous day by external parties

Research to the extent necessary to verify loan account information

Report corrective actions taken

Work the Refinance Report daily as provided in order to research any collateral tracking for loans in which payoffs were processed by a branch

Loans reflective of a status indicative of being refinanced with FCB to be updated to a closed status

Coordinates with Account Officer or Financial Solutions Center to ensure accuracy of payoff amount and rectifies errors

Work HELOC Close and Satisfy Report daily to review expiring Home Equity Lines of Credit

Updates account statuses as appropriate

Coordinates the processing of notifications to clients as applicable

Work the Zero Balance with Escrow Report daily to research any remaining escrow balances on loans that have a zero principal balance

Clear/refund escrow as research indicates applicable

Collect dealership title releases in order to release titles to dealerships within one business day

Prepare paid loan files for scanning

Prepare Paid in Full Letters and refunds for clients

Research dated or converted mortgages to determine if mortgage(s) should be satisfied

Report MERS Mortgage payoff information to Supervisor

Perform maintenance to cancel Private Mortgage Insurance when applicable

Communicate with clients, Financial Solutions Centers, Engagement Center, and third parties to ensure the risk management of each client relationship is in compliance with policy and procedure, as well as commercial and regulatory guidelines

Prepare Lien Release Letters for clients as well as dealerships

Provide exceptional customer service through written and verbal communications with customers and branch operations

Assist in various projects, including but not limited to: mergers, additional assignments from outside of department, forbearances, bank system release and upgrade testing

Qualification

SilverLake loan systemLoan processingMS WordMS ExcelAnalytical skillsMathematical skillsVerbal communicationWritten communicationRelationship-buildingTeam collaboration

Required

High School Diploma or equivalent required

Excellent verbal and written communication skills, exceptional relationship-building skills, strong analytical and mathematical skills, and a motivation to learn and contribute to continuous improvements are required

Proficiency in MS Word and Excel is required

Ability to work closely with team members to ensure daily work is completed

Ability to access filing cabinets and transport bulky files