Loan Products Specialist (Hybrid) #34500
Office Call Center

Trenton, NJ Contract May 17, 2023

Contemporary Staffing Solutions is seeking a Loan Products Specialist to join our client in Trenton, NJ for a hybrid opportunity! The Loan Products Specialist is primarily responsible for analyzing and performing loan-level processes related to special loan products that include, ARM loans, Buydown Loans, Step Rates, SCRA, Bi-Weekly Loans, Partial Releases, Transfers of Ownership, and Balloons. This temporary opportunity is offering $25/HR!

Responsibilities of the Loan Products Specialist include:

Performs analysis of special loan portfolios to identify potential data errors
Analyzes and corrects payment applications related to special products and processes
Researches and analyzes loan documents and reviews daily reporting in order to perform loan level data corrections to special loan types
Effects system changes for modifications, ARMs, Balloons, Buydowns, Step Rate loans and custom requests from clients
Performs loan level reviews and provide results to department management
Be able to communicate effectively with Clients, Borrowers, and Client Relations by telecommunication and/or by correspondence
Assists in retention modification and recast programs and other client initiatives related to Special Products; including document preparation and borrower communication
Verifies data in the loan system, such as interest rate and principal and interest payment amount, to confirm accuracy
Ensures borrower notifications for interest rate and principal and interest adjustments on ARMs, Step Rates, and Interest Only loans are sent timely
Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk.
Demonstrate consideration for the client's reputation as well as their clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

Qualifications of the Loan Products Specialist include:

High school diploma or GED required
Bachelor’s degree or equivalent work experience preferred
0 to 1 years of experience with Special Loan Products
Excellent written and verbal communication skills
Microsoft application proficiency
Strong commitment to excellent customer service
It is critical that you have an understanding of the following:
- Requirements under the Equal Credit Opportunity Act (ECOA) specifically:
  - notifications of action taken, ECOA notice, and statement of specific reasons,
  - notice of incomplete applications, and
  - specific rules concerning use of information.
- Requirements under the Truth and Lending Act (TILA) specifically:
  - rate adjustments with corresponding change in payment, and
  - initial rate adjustments.
- Requirements under the Servicemembers Civil Relief Act (SCRA) specifically, maximum rate of interest on debts incurred before military service and mortgages and trust deeds

Contemporary Staffing Solutions (CSS) has been a leading provider of contract, temporary, temporary-hire & direct hire solutions. We began as a staffing agency and evolved to a national provider of workforce management solutions with a niche recruitment focus in Accounting & Finance, Call Center & Office, Human Resources, Sales & Marketing, & Information Technology. To learn more about CSS, visit our website: www.ContemporaryStaffing.com.