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Special Loan Administrator (ELOCS) in Lake Zurich, IL at Dovenmuehle

Date Posted: 5/24/2018

Job Snapshot

Job Description

Job Summary


Ability to handle all aspects of various loans, including, but not limited to, adjustable rate audits and updates, daily simple interest, adjustable rate to fix rate conversions, assumptions, modifications, reverse mortgages, interest only loans, timely payment rewards, balloon reset mortgages, partial releases, subordinations, ELOC’s, construction loans, buy-down loans and name changes to ensure they are accurately set up and serviced according to client, agency, and investor guidelines and in a timely manner.


Responsibilities and Duties


  • Handle the proper processing of various loans, including, but not limited to, adjustable rate mortgages, daily simple interest, adjustable rate to fix rate conversions, assumptions, modifications, reverse mortgages, interest only loans, timely payment reward program, balloon reset mortgages, partial releases, subordinations, ELOC’S, construction loans, buy-down loans and name changes.

  • Prepare reports and reconcile GL accounts.

  • Communicate orally and in writing with borrowers, vendors and clients.

  • Enhance written procedures, as applicable.

  • Responsible for reviewing and preparing documentation.

  • Correspond with investor/client to determine new payment factors.

  • Coordinate material with investor/client to obtain approval for conversions and modifications.

  • Input and verify changes to the LPS system for various products.

  • Present a positive and professional demeanor at all times.

  • Maintain and increase knowledge, as applicable of current practices, procedures and policies.

  • Participate in department audit program.

  • Maintain performance standards.

  • Support management in defining and developing procedures for new products.

  • Performs all other responsibilities and duties deemed necessary

Job Requirements

  • Excellent Mathematical computation and reasoning skills

  • 1-3 years mortgage servicing or banking experience

  • Knowledge of special loan products helpful

  • Working knowledge of Excel and Outlook

  • Critical thinking

  • Strong verbal and written communication skills

  • Problem-solving and Interpersonal skills

  • High level of organization

  • Work with minimal supervision

  • Energetic

  • Able to respond quickly to changes in priorities and tasks

  • Work well independently and with a team

  • Keen attention to detail

  • Resourceful

  • Strong technical reading comprehension

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