Mortgage Servicing Specialist I

Overview

Performs mortgage loan servicing functions to include mortgage loan payments, tax and insurance escrow collection and disbursement, service of investor accounts, insurance functions, borrower requests, and loan set up and payoff processes. 

Responsibilities

• Responsible for adherence to Freddie Mac, Fannie Mae, VA, and FHA guidelines in addition to all federal regulations (RESPA, Regulation Z, Homeowners Protection Act, Federal Disaster Protection Act, Fair Credit Reporting Act) with respect to servicing of loans.
• Assist members in answering questions relating to their mortgage loan.
• Post monthly payments, curtailments, and process ACH payments in accordance with the secondary market. 
• Complete daily balancing practices including balancing personal daily work totals, entries into the proper investor accounts in the core using the appropriate general ledger codes. Balance FICS and general ledger computer systems daily.  Balance secondary marketing accounts (P&I and T&I) as well as other credit union GL accounts.
• Process payoffs of mortgage loans on the FICS system and cancel tax contracts and private mortgage insurance, as necessary. 
• Input all new loans into FICS daily ensuring that all loans are completely boarded into FICS by the end of the week and on the last day of month.
• Properly maintain escrow accounts. Process and remit funds for escrowed property taxes, hazard insurance, flood insurance, and private mortgage insurance. Perform all duties relating to escrow account management which includes escrow analysis, research of tax and insurance bills, payment of interest on escrow accounts, etc.
• Print and verify accuracy of all FICS daily, weekly and monthly reports.
• Conform with all applicable credit union regulations along with all state and federal laws relating to the servicing of mortgage loans.
• Assist department supervisor with other tasks, duties, and special projects, as required. 
• Assist members with and manage the process around insurance property damage claims.
• Respond to and process member requests such as adjusting escrow accounts, loan re-amortizations, private mortgage insurance waivers, adding/updating ACH, etc.
• Update FICS appropriately for forbearances, loan modifications, and Collections approved deferred payments.
• Provide backup coverage on daily investor reporting, fund remittance, and the monthly investor reports and close procedures (currently with Fannie Mae and Freddie Mac).

Qualifications

Knowledge, Skills & Abilities:

• Proficient understanding of mortgage servicing area.
• Understanding of accounting and reconciliation processes.
• Consistent and timely attention to detail and accuracy required.
• Ability to coordinate and prioritize date and time sensitive daily work functions.
• Effective and concise analytical skills and ability to translate into easily understood written material.
• Ability to be self-directed.
• Ability to work well as part of a team, with strong interpersonal communication skills.
• Well versed with pleasant telephone communication skills.

Minimum Experience:

• High School diploma required
• Minimum of 2 years mortgage lending experience or similar loan servicing type of experience.