Loan clerk vs loan servicing specialist

Differences between loan clerk and loan servicing specialist duties and responsibilities

Loan clerk example responsibilities.

• Manage A/R transactions, prepare weekly account reconciliation's, perform research/ adjustments on A/P and A/R discrepancy accounts.
• Monitor UCC filings and updates.
• Prepare SBA loans using WordPrefect.
• Record UCC filings on-line and by mail.
• Review loan files, facilitate and verify loss mitigation application request, determine eligibility for clients requesting foreclosure financial assistance.
• Work with HUD the VA and FHA to make sure all requirements are completed.
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Loan servicing specialist example responsibilities.

• Manage the non-judicial and judicial FNMA foreclosure portfolio.
• Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
• Coordinate and schedule settlements upon final loan approval and review HUD-1 for reconciliation of itemize financial data.
• Train new hires in the MSP system to ensure they understand how to gather data and for escrow analysis.
• Prepare internally generate commercial loan documentation for all states the organization does business in.
• Work with LIS, LPS, and ESO program.
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