Loan Servicing Representative
BankFund Credit Union, Washington, District of Columbia, United States
About BankFund
BankFund Credit Union is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BankFund maintains three full-service branches downtown with our headquarters located near Farragut West metro station.
Job Overview This position is classified as a hybrid role, meaning that on-site work is expected. After completion of training, staff generally work on site 40% of the time, though this may change based on health and safety standards and operational need.
Responsibilities
Respond to member inquiries made by phone, e-mail, or secured messaging regarding loan servicing, including rate changes, automatic payment methods, payoffs, payoff quotes, lien releases, and requests for copies of documentation from loan files. Prints loan histories and prepares amortization schedules as requested by members.
Resolve loan maintenance issues and serve as the primary member contact for the issue.
Determine, investigate, and perform loan corrections such as payment reversals and late fee waivers.
Complete activities assigned by other Credit Union Departments for loan servicing on member loan accounts in a timely manner.
Process check payments as necessary and run the Check 21 system to process end‑of‑day balancing.
Process returned checks on members’ accounts as required by the Account Operations Department.
Manage daily, weekly, and monthly reports that include but are not limited to: Loan Payment Delinquency, Payment Error, MM_SALOT, Impending Mortgage Payoffs, CUNA report, Review LOC Over Limit.
Process CUNA Payments for CL/CD Premiums.
Participate in annual Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) training and demonstrate knowledge of the BSA and OFAC, including immediate reporting of unusual or suspicious activity to the Risk Management Department. Undertake additional training required to ensure continued compliance with all applicable regulations.
Ensure the Credit Union’s safe harbor protections as allowed by the BSA, preserving the confidentiality of any suspicious activity reports (SARs) and reporting unauthorized disclosures to the Compliance Officer.
Successfully participate in annual Information Security refresher training, comply with the Information Security Policy, and immediately report unusual or suspicious activity to management and the Information Security Officer.
Assist other staff members with questions regarding title documentation and coordinate efforts where appropriate.
Undertake other work‑related duties as assigned by the Supervisor, Loan Servicing.
Process special loan transactions such as Loan Skip‑A‑Pay.
Compensation and Benefits
Annualized base salary range: $50,000 to $62,000, based on individual job‑related experience, skillset, training, certifications, and market demands.
Eligible for an annual incentive plan.
Benefits include medical, dental, and vision insurance; a 401(k) plan; life insurance coverage; disability benefits; a tuition assistance program; paid time off, including paid parental leave; and other standard benefits.
Qualifications
Associate’s Degree in a related field or an equivalent combination of education and experience.
Must be eligible to register with the Nationwide Mortgage Licensing System & Registry (NMLS) and maintain registration as a registered Mortgage Loan Originator (MLO).
At least one year of prior banking experience.
Strong commitment to the Credit Union’s Service IMPACT Philosophy.
Well‑developed professional communication and member‑relations skills.
Proven ability to organize and prioritize tasks in a fast‑paced environment.
Proficiency in lending‑related software programs.
Internal Information For internal purposes, this position is graded as NE‑6.
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Job Overview This position is classified as a hybrid role, meaning that on-site work is expected. After completion of training, staff generally work on site 40% of the time, though this may change based on health and safety standards and operational need.
Responsibilities
Respond to member inquiries made by phone, e-mail, or secured messaging regarding loan servicing, including rate changes, automatic payment methods, payoffs, payoff quotes, lien releases, and requests for copies of documentation from loan files. Prints loan histories and prepares amortization schedules as requested by members.
Resolve loan maintenance issues and serve as the primary member contact for the issue.
Determine, investigate, and perform loan corrections such as payment reversals and late fee waivers.
Complete activities assigned by other Credit Union Departments for loan servicing on member loan accounts in a timely manner.
Process check payments as necessary and run the Check 21 system to process end‑of‑day balancing.
Process returned checks on members’ accounts as required by the Account Operations Department.
Manage daily, weekly, and monthly reports that include but are not limited to: Loan Payment Delinquency, Payment Error, MM_SALOT, Impending Mortgage Payoffs, CUNA report, Review LOC Over Limit.
Process CUNA Payments for CL/CD Premiums.
Participate in annual Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) training and demonstrate knowledge of the BSA and OFAC, including immediate reporting of unusual or suspicious activity to the Risk Management Department. Undertake additional training required to ensure continued compliance with all applicable regulations.
Ensure the Credit Union’s safe harbor protections as allowed by the BSA, preserving the confidentiality of any suspicious activity reports (SARs) and reporting unauthorized disclosures to the Compliance Officer.
Successfully participate in annual Information Security refresher training, comply with the Information Security Policy, and immediately report unusual or suspicious activity to management and the Information Security Officer.
Assist other staff members with questions regarding title documentation and coordinate efforts where appropriate.
Undertake other work‑related duties as assigned by the Supervisor, Loan Servicing.
Process special loan transactions such as Loan Skip‑A‑Pay.
Compensation and Benefits
Annualized base salary range: $50,000 to $62,000, based on individual job‑related experience, skillset, training, certifications, and market demands.
Eligible for an annual incentive plan.
Benefits include medical, dental, and vision insurance; a 401(k) plan; life insurance coverage; disability benefits; a tuition assistance program; paid time off, including paid parental leave; and other standard benefits.
Qualifications
Associate’s Degree in a related field or an equivalent combination of education and experience.
Must be eligible to register with the Nationwide Mortgage Licensing System & Registry (NMLS) and maintain registration as a registered Mortgage Loan Originator (MLO).
At least one year of prior banking experience.
Strong commitment to the Credit Union’s Service IMPACT Philosophy.
Well‑developed professional communication and member‑relations skills.
Proven ability to organize and prioritize tasks in a fast‑paced environment.
Proficiency in lending‑related software programs.
Internal Information For internal purposes, this position is graded as NE‑6.
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