Mortgage Servicing Specialist

Job Description:

CapEd’s Mortgage Servicing Specialist provides financial services of superior quality and convenience through servicing residential mortgage loans and home equity lines of credit.

Essential Functions & Responsibilities:

• Performs servicing functions including but not limited to process incoming insurance notices, validation of coverage, etc.; monitor all coverage including hazard, life, and flood insurance to ensure full coverage is in place; administer loan payments, payoffs, and advances for all loans, including charged-off and non-accrual loans; process the re-conveyance of Deed of Trust on paid off loans; reconcile loan accounts, mortgage fees and payoffs to general ledger accounts; prepare subordination requests and agreements; packages and ships loan documentation to third party investors; remit insurance and tax escrow payments; track and administer distribution of funds from home insurance claims; and tracks post-closing documents and assists closer with post-closing issues.
• Performs reviews to ensure all applicable mortgage lending compliance regulations are adhered to, up to and including: HMDA, Flood Disaster Protection, CRA, TRID, Fair Housing, ECOA, and applicable state laws, and lending regulations Performs file review to ensure Business Units are performing tasks in an accurate and quality fashion, including Receipt and review of required documentation Accurate data input to LOS for reporting Timely imaging of documentation necessary for file review Assists internal Cap Ed associates with the understanding of identified errors and resolution to prevent future occurrences.
• Establishes and maintains records on third party data systems utilized in monitoring tax records, insurance records, etc. As assigned, submits closed loan list and selected files for audit to third party quality control vendor.
• Assists members in resolving post-closing issues. Answers incoming Mortgage Servicing huntline calls; researches and resolves member inquiries regarding general account information.
• Cross trains quality control functions on closing documentation and funded loan files including but not limited to; prepare a complete list of identified deficiencies; partner with the processor and/or closer to clear audit findings and/or obtain needed support documentation; verify loan has been properly booked into the core system with input in all required funding fields.
• Contributes to efficient Credit Union operations by performing other job-related duties as assigned.
• Maintains knowledge of all Credit Union products, services, and promotions.