POSITION TITLE: Mortgage Servicer (Servicing Specialist)
POSITION SUMMARY: Responsible for maintaining accurate mortgage loan information, posting payments, late fees and payoffs, processing and analyzing PMI and escrow-related payments, and researching and resolving mortgage loan and escrow issues, in addition to preparing and processing monthly remittances. This position is a back up to other functions in the Lending Department.
ESSENTIAL JOB FUNCTIONS:
- Maintain mortgage information on all mortgage related loans including payment postings, new loans, updating member information, processing payoffs, curtailments, monthly billing statements, adjustments, and account research.
- Effectively assist in balancing and remitting to the Federal Home Loan Bank (FHLB) balances as required per Mortgage Purchase Program (MPP) guidelines.
- Post mortgage payments, late fees, and payoffs when received and calculate and process mortgage loan payoff requests.
- Assist with Automated Clearing House (ACH) and automatic payment requests.
- Process, analyze, and verify Private Mortgage Insurance (PMI) payments/cancellations and all escrow related payments as well as prepare year-end reports, annual tax statements, escrow analysis, and PMI letters.
- Research and resolve any mortgage loan or escrow issues.
- Proficiently assist and develop with implementation of department processes and procedures and provide recommendations when needed.
- Effectively track paid off mortgages and releases.
- Communicate with credit union loans sold and earnings on a monthly basis.
- Calculate monthly interest and margin requirements for variable rate loans.
- Process mortgage rate changes, notices, and payment adjustments for variable rate loans.
- Maintain inventory of loans sold to FHLB.
- Prepare and process monthly remittances.
- Process monthly reports for mortgage loans.
- Process periodic repo sales and repurchases.
- Prepare routine letters to members.
- Answer phone inquiries on behalf of the Mortgage Department.
WORK ENVIRONMENT: Office environment
QUALIFICATIONS AND SKILLS REQUIREMENTS:
- Associates degree in Accounting, Finance, or Business
- A minimum of 3 years mortgage/banking related experience; a viable combination of experience and education will be considered
- Strong understanding of accounting principles
- Knowledge of mortgage servicing systems/platforms – Financial Industry Computer Systems (FICS) Mortgage Software
- Understanding of the mortgage banking industry
- Proficient in Microsoft Office with competencies in Excel, general computer programs, and general office equipment
- Ability to perform accounting functions (general ledger reconciliations, analytics, etc.)
- Up-to-date knowledge of mortgage underwriting guidelines including requirements, procedures, and criteria
- Knowledge of mortgage loan processing functions and conventional lending
- Strong organizational skills and attention to detail
- Advanced problem solving skills
- Proficient in organizing projects, prioritizing work and completing multiple tasks accurately
- Excellent written and verbal communication skills
- Ability to work under minimal supervision but knows when to ask for help
- Ability to research discrepancies independently
- Ability to handle multiple tasks and be able to prioritize
- Ability to receive and maintain confidential information
- The option to obtain Certified Financial Counselor status
Must be able to meet the following physical requirements, with or without reasonable accommodation: 1) Sit, walk, stand, use hands to manipulate, handle, feel, and control items or equipment; 2) Reach with hands and arms; 3) Talk and hear; 4) See and be able to read, write, and interpret text, and spreadsheets. 5) Occasionally lift and move objects weighing up to 15 pounds.
The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required of staff member so classified.