The Mortgage Servicing Specialist is responsible for the day to day servicing functions and support of the Mortgage Servicing Department, which includes 1st Mortgage Loans and Home Equity Loans. The Mortgage Servicing Specialist is generally the first contact in the department for members and co-workers and assures the integrity of mortgage data in the servicing system is accurate and provides an exceptional level of service and support to our members and internal departments.
SUMMARY: The Mortgage Servicing Specialist is responsible for the day to day servicing functions and support of the Mortgage Servicing Department, which includes 1st Mortgage Loans and Home Equity Loans. The Mortgage Servicing Specialist is generally the first contact in the department for members and co-workers and assures the integrity of mortgage data in the servicing system is accurate and provides an exceptional level of service and support to our members and internal departments.
ESSENTIAL FUNCTIONS:
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Performs mortgage loan servicing tasks with a high degree of member service, including payoff processing, new loan boarding, reconveyances, payments and error resolutions, audits.
- Reviews data and sets up of loans moved to servicing via interface with Encompass, including, but not limited to rate, payments, and payment frequency.
- Reaches out to members who have not chosen a method of automatic payment and encourages them to set up their payments via EFT.
- Performs mortgage loan servicing and support activities such as, ARM / BALLOON notices, Re-amortizations, SCRA tracking.
- Point of contact for internal and external phone inquiries and servicing related tasks.
- Documents calls and emails as required in the servicing system.
- Enters data necessary to register loans in MERS (Mortgage Electronic Registration System) if applicable.
- Ensures new adjustable-rate mortgage (ARM) loans are entered in the system with the correct rates, indexes, change dates, ceilings, and floors. Reviews monthly change reports to ensure adjustments are accurate and notices are sent to borrower according to the terms of the note. Reviews weekly and monthly reports to confirm loans are analyzed in accordance with loan terms.
- Has working knowledge of the ACH daily processes as they relate to mortgage loans.
- Acts as the department back up for monitoring lockbox payments and posts to accounts or returns as appropriate, as needed.
- May reviews rejected payments and payments in suspense to determine reason and corrections required to post, as needed.
- Assess monthly late charges to past due loans as required.
- Responds to internal and external calls and provides courteous and professional service to callers. Answers a variety of questions especially regarding escrow, payment posting, ARMs and payoff information.
- Strives to resolve most member questions and issues during the call.
- Prepares written payoff quotes as requested. Prepares release documentation, sends for recording per each state's statute., and mails paid documentation to borrower.
- Modifications – processes modification requests, prepares, and sends agreements and updates FICS system with modified terms.
- Performs all servicing related functions on the credit unions home equity loan portfolio, which includes HELOCS and HELoans. Performs loan file maintenance, automatic payment set up or changes, releasing collateral at loan payoff and answering service related inquires by members or co-workers.
- Cross trains in all mortgage servicing areas and provides training to other Mortgage Servicing staff on General Servicing.
- Performs other related duties as required.
ADDITIONAL RESPONSIBILITIES:
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
QUALIFICATIONS:
- Agency experience with FNMA, GNMA or Freddie Mac preferred
- Must be proficient in Microsoft Office Products, 10 key calculators, and have Bank Accounting Reconciliation Training
- Intermediate to advance Excel skills required
- FICS experience/knowledge is preferred.
- Must react quickly to investor requests with a sense of urgency
- Ability to read and comprehend Mortgage Loan Sale and Servicing Agreements
- Independent self-motivator, with strong analytical and competent computer skills
- Excellent organizational skills and attention to detail
- Critical analysis and problem-solving abilities
- Excellent verbal and written communication skills
- Strong customer relations disposition and interpersonal skills
REQUIRED EDUCATION AND EXPERIENCE:
- High School diploma or General Education Degree, DocuSign or related electronic document delivery software training, plus three years of related experience and/or training.
License or Certificate:
- Bondable
- Acceptable Credit History
Compensation & Benefits:
- Salary Range: $38,800 - $58,100
- Health, Dental & Vision Benefits
- Bonus opportunity
- 401(k) with match and profit sharing
- Flexible Time Off
