Loan Modification Associate

Job Description

The Back Office Loan Modification Specialist is responsible for reviewing, processing, and implementing loan modification requests for auto finance customers experiencing financial hardship. This role ensures all modifications comply with company policies, regulatory requirements, and customer agreements while maintaining data accuracy and operational efficiency. The position operates in a non-customer-facing capacity, supporting front-line teams and ensuring seamless execution of loan restructuring activities.

Loan Modification Processing

• Review and evaluate loan modification requests and supporting documentation.
• Assess eligibility based on established guidelines, policies, and risk parameters.
• Process approved modifications including term extensions, payment deferrals, interest rate adjustments, or restructures.
• Ensure timely and accurate updating of loan servicing systems.

Documentation & Compliance

• Verify completeness and accuracy of borrower documentation (income proof, hardship details, etc.).
• Ensure all modifications are compliant with internal policies and applicable regulatory requirements.
• Maintain detailed records of modifications, decisions, and approvals for audit purposes.
• Support internal and external audits by providing required documentation and reports.

Data Management & System Updates

• Accurately input and maintain loan data in servicing platforms.
• Perform quality checks and reconciliations to ensure data integrity.
• Identify discrepancies and resolve issues proactively.

Collaboration & Support

• Work closely with customer service, collections, and underwriting teams to facilitate loan modifications.
• Provide back-office support for escalations and exception requests.
• Participate in process improvements and workflow enhancements.

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Required Qualifications

• High School Diploma or equivalent
• 2–4 years of experience in loan servicing, collections, auto finance, or financial operations.
• Experience handling loan modifications, restructuring, or hardship programs is preferred.
• Strong knowledge of loan servicing systems and processes.

TCS Employee Benefits Summary

• Discretionary Annual Incentive.
• Comprehensive Medical Coverage: Medical & Health, Dental & Vision, Disability Planning & Insurance, Pet Insurance Plans.
• Family Support: Maternal & Parental Leaves.
• Insurance Options: Auto & Home Insur ance, Identity Theft Protection.
• Convenience & Professional Growth: Commuter Benefits & Certification & Training Reimbursement.
• Time Off: Vacation, Time Off, Sick Leave & Holidays.
• Legal & Financial Assistance: Legal Assistance, 401K Plan, Performance Bonus, College Fund, Student Loan Refinancing.

Salary Range: $44,000 - $48,000 per year

Qualifications: Diploma