Mortgage Servicing Specialist - Collateral Specialist

Mortgage Servicing Specialist

This position provides front-line service and support for Bank-owned and serviced mortgages. Works directly with clients, associates, and other key stakeholders during the course of daily activities, and may act as a liaison between parties involved in mortgage actions. Performs a variety of servicing tasks which may include payments processing, answering client calls, entering loan set-up packages, facilitating loan satisfactions or releases, and managing insurance policies and real estate tax bills. May verify documentation, track exceptions, and other duties intended to review for accuracy in loan applicant information. Ensures mortgages are appropriately supported and complete to facilitate workflow for the mortgage servicing function of the Bank. This position will work with the collateral department.

Responsibilities & Qualifications:

• Business Service - Performs a variety of actions to facilitate daily operations and mortgage servicing for Bank clients, associates, and other relevant parties. Understands loan transaction history to provide resolution for identified issues.
• Mortgage Servicing - May perform some or all of the following duties:
  • Payment Processing - Processes timely and accurate mortgage payments, adjustments, reversals, and changes.
  • Client Service - Answers inbound calls from customers, etc. providing resolution or call routing. Receives and processes requests for payoffs by providing payoff quotes, mailing disclosures, and reviewing for accuracy. Ensures that loan documents are properly satisfied and forwarded to the customer or settlement agent within the regulatory timeline. Processes system maintenance such as address and name changes, and verification of mortgage requests.
  • Escrow Management - Manages real estate taxes and hazard, flood and private mortgage insurance, including the force-placed insurance process. If appropriate, reviews new and renewed policies to confirm required coverage, updating certificates as necessary. Prepares escrow invoices for payment, reviews vouchers for accuracy, and mails payments to the payee. Manages the electronic data interface (EDI) process for the insurance companies and real estate tax vendor to ensure the Bank servicing system is updated with current information. Researches changes and notifications related to real estate tax bills and insurance policies. Orders coverage and notifies clients for force-placed insurance process.
  • Loan Establishment - Sets up new loans for accurate servicing, including construction loans. Verifies interface accuracy and that of loan closing documents. Manages service release of loans to purchasers or investors.
• Coordination - Works closely with clients, associates, and other relevant parties to source necessary information and documentation required for mortgage activities. Coordinates actions within business unit to ensure timely and effective service delivery.

Position Specific Skills:

• Customer service skills
• Detail oriented
• Communication (Written and Verbal)

Qualifications: Minimum Required Education and Experience: High School Diploma or GED and 1 years' experience in Escrow, Client Service, or Mortgage/Bank operations.