About the Role

We are seeking a dedicated Loan Support Specialist to join our team remotely. In this role, you will provide comprehensive operational support to the Loan Servicing, Loan Underwriting, and Collections departments. Your contributions will ensure the integrity of loan documentation and compliance with regulatory requirements, playing a crucial role in the effectiveness of our lending operations.

What You'll Do

  • Perform core operational functions within the Loan Underwriting, Loan Servicing, and Collections departments.
  • Ensure accurate and complete loan records, including system data, documentation, and servicing activities, in accordance with federal and state regulations.
  • Conduct quality control reviews of loan files and servicing activities to ensure compliance and accuracy.
  • Support the Collections department by making outbound collections calls as needed.
  • Participate in credit union projects related to loan operations, system enhancements, and regulatory changes.
  • Assist with the implementation of new workflows, system updates, and procedural changes.
  • Conduct interpersonal relations in a manner that ensures equal treatment for all personnel, staff, and visitors.
  • Engage in self-development through training and education as required by the credit union.

Requirements

  • High school diploma or GED is required.
  • Two years of experience in the field of consumer credit is preferred.
  • Ability to learn and apply new skills effectively.
  • Strong communication skills, both oral and written, to interact with members and management.
  • Good judgment and decision-making skills in various situations.
  • Ability to work cooperatively with members, co-workers, and management.
  • Must be bondable and able to perform administrative duties as required.

Nice to Have

  • Experience with loan servicing software.
  • Knowledge of federal and state lending regulations.
  • Familiarity with quality control processes in loan operations.

What We Offer

  • Competitive hourly wage of $21-$30, commensurate with experience.
  • Remote work flexibility, allowing you to work from anywhere.
  • Opportunities for professional development and training.
  • Supportive team environment focused on collaboration and growth.
  • Health and wellness benefits.
Why This Job8.5 of 10

This Loan Support Specialist position offers a competitive salary and the flexibility of remote work, making it an attractive opportunity for professionals in the financial services sector.

Salary Range
Required
0/1
Optional
0/1
Bonus
0/1

Who Will Succeed Here

Proficient in loan servicing software such as Encompass or Calyx, with a strong understanding of loan underwriting processes and regulatory compliance to navigate complex loan documentation.

Self-motivated and disciplined, possessing excellent time management skills to thrive in a fully remote work environment, ensuring productivity and accountability without direct supervision.

Detail-oriented with a mindset focused on quality control and accuracy, capable of identifying discrepancies in loan documentation and ensuring compliance with federal and state regulations.

Learning Resources

Loan Servicing Basicsarticle

Career Path

Loan Support Specialist(Now)Loan Operations Manager(1-2 years)Director of Loan Operations(3-5 years)

Market Overview

Market Size 2024
$18.5B
Annual Growth
8.2%
AI Adoption in Loan Servicing
35%
Investment in FinTech Solutions
+50%
Labour Demand for Loan Support Roles
+12%
Avg Salary for Loan Support Specialist
$65K

Skills & Requirements

Required
Loan ServicingLoan UnderwritingCollections
Growing in Demand
Data Analytics for Loan ProcessingDigital Customer Experience ManagementRegulatory Technology (RegTech) Solutions
Declining
Manual Loan Processing SystemsTraditional Credit Scoring Models

Domain Trends

Increased Automation in Loan Processing
By 2025, 60% of loan processing tasks are expected to be automated, significantly reducing processing times and operational costs.
Rise of AI in Risk Assessment
AI-driven tools are enhancing risk assessment accuracy, with 40% of financial institutions implementing AI solutions for underwriting by 2024.
Shift Towards Digital Customer Engagement
Over 70% of borrowers prefer digital communication channels for loan servicing, prompting companies to invest in digital customer service platforms.

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