Mortgage Payoff Specialist

Job Description

Job Description

We are looking for a Mortgage Payoff Specialist to support loan payoff administration and collateral release activities for our servicing operations in the northwest suburbs of Chicago, Illinois. In this role, you will help ensure paid-in-full loans are handled accurately, borrower refunds are processed correctly, and lien release documentation is completed on time. The ideal candidate brings a strong service mindset, careful attention to detail, and the ability to work within established mortgage servicing standards and client guidelines.

Responsibilities:

• Prepare and deliver accurate mortgage payoff statements by reviewing loan data, fees, interest, and other applicable balances.

• Track loans approaching maturity or final payment and send required notices to borrowers in a timely manner.

• Resolve payoff shortages by communicating outstanding amounts and coordinating follow-up until balances are cleared.

• Complete paid-in-full processing, including confirmation notices and related account updates within servicing records.

• Calculate and issue surplus funds, borrower refunds, and other disbursements connected to loan payoff activity.

• Create, submit, and monitor lien release, satisfaction, reconveyance, and similar collateral documents through the appropriate recording channels.

• Investigate payoff discrepancies, account questions, and exceptions raised by borrowers, clients, attorneys, title partners, or internal teams.

• Maintain complete and accurate documentation in servicing platforms while supporting quality reviews and issue resolution efforts.

• At least 1 year of experience in mortgage servicing, payoff processing, title, escrow, banking operations, financial services operations, or a related customer support environment.
• High school diploma or equivalent required; additional college coursework or an associate degree is preferred.
• Working knowledge of mortgage payoff transactions, loan administration, and servicing-related documentation.
• Familiarity with lien releases, satisfactions, title matters, recording practices, or collateral release processes is preferred.
• Ability to interpret and follow documented procedures, investor rules, client expectations, and servicing standards.
• Strong written and verbal communication skills with the ability to interact professionally with borrowers, business partners, and internal stakeholders.
• High level of accuracy, organization, and attention to detail when handling financial transactions and account records.
• Experience with mortgage servicing systems, workflow tools, recording platforms, or Black Knight systems is a plus.