Job description
Overview:
Performs mortgage loan servicing functions to include mortgage loan payments, tax and insurance escrow collection and disbursement, service of investor accounts, collections of delinquent taxes, preparation of monthly statements, 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 XP2 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 monthly adjustable loan changes in accordance with the terms of the mortgage Note and Regulation Z.
- Process payoffs of mortgage loans on the FICS system. Complete all reconveyance documentation; cancel tax contracts and private mortgage insurance.
- 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 Mortgage Servicing Manager with other tasks and duties as required.
- Report and remit loan funds to the investors – currently Fannie Mae and Freddie Mac.
- Backup the Mortgage Servicing Investor Specialist for daily investor reporting and the monthly investor close procedures.
- Calculate, process, and document all loan modifications and Collections approved skipped payments, updating in FICS appropriately.
- Assist members with and manage the process around insurance property damage claims.
- Process member requests such as adjusting escrow accounts, loan re-amortizations, early waiver of private mortgage insurance, adding/updating ACH, etc.
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.
- High School diploma required
- Minimum of 2 years mortgage lending experience or similar loan servicing type of experience.
OnPoint Community Credit Union is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.
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