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- Tasks: Manage a portfolio of bridging loans, ensuring timely repayments and addressing client concerns.
- Company: Join a growing team in a well-established company focused on bridging loans.
- Benefits: Enjoy a competitive salary, private healthcare, pension scheme, and social events.
- Why this job: Be part of a dynamic team with excellent development opportunities and a supportive culture.
- Qualifications: Experience in bridging loan servicing and knowledge of mortgage recovery processes are essential.
- Other info: Work Monday to Friday, with 20 days annual leave plus bank holidays.
The predicted salary is between 36000 - 60000 £ per year.
Location: Watford
Salary: Competitive and based on experience.
Hours: Monday to Friday 9 am to 5.30 pm
Benefits:
- Contributory Pension scheme
- Private Medical Healthcare
- Life Assurance
- Dental Plan
- Free eye tests
- Annual leave purchase scheme
- Social events
- Refreshments
- 20 days annual leave with bank and public holidays on top
- Perk box
- Superb development opportunities
About the position: We are working closely with our client to fill a vacancy in an established but growing team, to manage a portfolio of Bridging loans. You will be required to oversee a diverse range of large balance bridging loans, both performing and nonperforming. This will include managing loans from start to finish and ensuring full repayment by the end of the term. You will also be required to proactively identify and address any concerns, collaborating with the Head of Servicing or Servicing Team Leader to find effective solutions for clients.
Responsibilities:
- Communication with customers on all loans to ensure redemption is on track or alternative support/solutions are required.
- Ensure the full collections, redemptions and default loans policy is met on all loans.
- Ownership of redemption, bridge loans, commencing three months before loan completion or where indicated.
- Liaise with clients and solicitors for the redemption of upcoming loans.
- Prepare & review all redemption statements.
- Ownership of all default cases whether through receivership or the legal possession process and communicate with all parties involved.
- Explore all options of forbearance in line with customers' circumstances.
- Ensure loans are fully compliant with regulations and processes during the loan's life cycle.
- Engage and manage all loan extension requests promptly.
- Manage complex litigation cases which cannot follow the standard litigation process. These include, but are not limited to; defended possession claims, allegations of fraud, title problems and lease forfeiture.
- Assist with monthly reporting.
- Assisting with internal or external audit or review.
- Forge positive relations with internal and external teams.
Experience and skills required:
- Experience in Bridging Loan servicing experience is essential.
- Background knowledge of regulatory and non-regulatory mortgage recovery processes.
- Good understanding of Consumer Duty.
- Experienced in Primary and Special Servicing.
For more information regarding the role please get in touch with us.
Stellar Select is acting as an employment agency and is a corporate member of the REC. Due to a high volume of applications, we will only contact you if your application has been successful. We aim to contact all successful contacts within two business days.
Loan Servicing Specialist employer: Stellar Select
Contact Detail:
Stellar Select Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Loan Servicing Specialist
✨Tip Number 1
Familiarise yourself with the specifics of bridging loans and the regulatory landscape surrounding them. This knowledge will not only help you in interviews but also demonstrate your commitment to understanding the role.
✨Tip Number 2
Network with professionals in the finance and mortgage sectors, especially those who have experience in loan servicing. Attend industry events or join relevant online forums to make connections that could lead to valuable insights or referrals.
✨Tip Number 3
Prepare to discuss real-life scenarios where you've successfully managed complex cases or resolved customer issues. Highlighting your problem-solving skills and ability to handle challenging situations will set you apart from other candidates.
✨Tip Number 4
Research StudySmarter and our values, as well as the specific team you'll be joining. Tailoring your conversation to align with our mission and demonstrating how you can contribute to our goals will make a strong impression during the interview.
We think you need these skills to ace Loan Servicing Specialist
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in loan servicing, particularly with bridging loans. Use specific examples to demonstrate your understanding of the regulatory processes and your ability to manage both performing and non-performing loans.
Craft a Compelling Cover Letter: Write a cover letter that addresses the key responsibilities of the Loan Servicing Specialist role. Emphasise your communication skills and your experience in managing complex cases, as well as your proactive approach to problem-solving.
Showcase Relevant Skills: In your application, clearly outline your skills related to consumer duty and mortgage recovery processes. Mention any experience you have with litigation cases or managing default loans, as these are crucial for the role.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors. A polished application reflects your attention to detail, which is essential in the financial services industry.
How to prepare for a job interview at Stellar Select
✨Know Your Loans
Familiarise yourself with different types of bridging loans and their specific characteristics. Be prepared to discuss how you would manage both performing and non-performing loans, as well as your approach to ensuring full repayment.
✨Demonstrate Communication Skills
Since the role involves significant communication with customers and solicitors, practice articulating your thoughts clearly. Prepare examples of how you've effectively communicated in previous roles, especially in challenging situations.
✨Understand Compliance and Regulations
Brush up on relevant regulations and compliance requirements related to bridging loans. Be ready to explain how you ensure that loans are compliant throughout their life cycle and how you handle any potential issues.
✨Show Problem-Solving Abilities
Prepare to discuss scenarios where you've had to identify and address concerns proactively. Highlight your experience in managing complex cases and how you collaborate with teams to find effective solutions.
