MIT Federal Credit Union Career Opportunities
Job Openings: Senior Mortgage Servicing Specialist
|Announcement Number:||Job Number: 20185|
|Announcement Date:||October 14, 2021|
|Location of Position:||MIT FCU Operations Center - 70 Westview St., Lexington, MA|
|Days:||Monday - Friday|
|Hours:||7 hour/day hybrid|
The Sr. Mortgage Servicing Specialist will be responsible for the servicing of all nationwide real estate mortgage loans. Ensure all tasks are completed in accordance with all regulatory requirements and guidelines while being responsive to the needs of our internal and external members.
PRIMARY DUTIES AND RESPONSIBILITIES:
- Receive rate locks, review for accuracy for servicing and/or portfolio purchased loans and submit for approval.
- Review and setup wire funding to closing attorney / title company for mortgage closings.
- Responsible for boarding all mortgage product loans onto FICS Mortgage Servicer.
- Perform post-closing quality assurance of loan packages to ensure accuracy on FICS Mortgage Servicer.
- Analyze competitive market rates and create weekly survey report to deliver to management.
- Maintain NMLS licensing.
- Review all closed loans in the loan originated system to ensure HMDA data accuracy.
- Perform daily/monthly reconciliation and repair discrepancies between MERS and FICS.
- Generate MERS and FICS reports and attestations required for annual reporting to third party vendor.
- Processing daily reports, exceptions and balances in the FICS General Ledger.
- Generates and reviews monthly late fees and billing statement for all mortgage loans ensuring data integrity.
- Analyze real estate tax documents to abstract pertinent tax data for the creation of a TRA (Tax Amounting Reporting) on CoreLogic.
- Processes flood insurance, homeowner’s insurance, private mortgage insurance, and real estate tax payments when due and monitors the portfolio to ensure all payments are timely.
- Generates and analyzes all required Adjustable Rate Mortgage changes while ensuring adherence to program and regulatory requirements.
- Process and balance daily FNMA remittances and researches and resolves any exception/rejects.
- Balances FNMA accounts and portfolio per FNMA requirements, and generates necessary reporting.
- Maintains mortgage pipeline to accurately identify loans for sale to FNMA.
- Ensure all loans are transferred and assigned to the correct investor in the FICS Mortgage Servicer system.
- Gathers documentation for modification, partial release, subordination, and utility easement requests.
- Determines the required action for insurance claim checks for property damage. Order the needed inspections and ensure work is completed per plans and specifications before releasing fund per guideline.
- Processes and researches member requests for PMI cancellation and decides if regulations are met for termination.
- Backup to EOM reporting, including NCUA AIRES Report, FNMA, Close Investor Reporting and other investor reports.
- Perform required Annual Escrow Analysis per Regulatory guidelines.
- Processes 1098/1099 tax forms for year-end IRS reporting.
- Generate and review annual PMI disclosures and mails to members.
- Responsible for reviewing customer payment disputes and calculates daily interest to determine if an adjustment is warranted.
- Manages and processes all UCC liens to safeguard and secure loan collateral.
- Accesses eOscar system to review and decide if Member disputes warrant a credit report adjustment.
- Communicates with members as needed to answer questions, resolve concerns, and keeps members satisfied.
- Provides internal and external member support for issues/questions which may arise.
- Lives MIT FCU’s passion and quality initiative through teamwork and quality service to internal and external customers/members.
Other Duties and Responsibilities
- Implement and comply with all MIT FCU, MIT policies and procedures in a fair and equitable manner within scope of accountability.
- Ensure compliance ethical/legal standards and state and Federal laws within departmental scope and take action when violations occur anywhere in the credit union.
- Complete required BSA/AML training. Demonstrate working knowledge of BSA/AML policies and procedures and implement as necessary in daily activities.
- Utilize opportunities to present to and/or refer current and potential members to the products and services of the Credit Union
- Other duties as needed or required
- Knowledge of Mortgage Electronic Registration System (MERS) procedures
- Knowledge of HMDA and CFPB Regulations
- Strong computer skills required with proficiency in MS Office (including Word and Excel); Outlook experience preferred.
- Working knowledge of real estate loan servicing regulatory requirements
- Knowledge of Fannie Mae and general loan servicing
- Excellent organizational skills and ability to handle multiple tasks with speed and accuracy.
- Strong written and verbal communication skills
- Superior member service skills with ability to form long-term business relationships
- Displays initiative and dependability
- Attention to detail
EXPERIENCE AND EDUCATION REQUIREMENTS
- High school diploma or equivalent required.
- Minimum one (1) year experience in banking or credit union industry. Experience in lending, credit union operations or related field experience preferred
- Knowledge of Fannie Mae delivery, servicing, and report
- Receive direct supervision from the Supervisor Mortgage Loan ing strongly preferred. Servicing Manager
- Receive indirect supervision from the Senior Vice President, Lending or Sr. Mortgage Servicing Specialist
Note: The items contained in this job description are not exhaustive. They may be supplemented as necessary at any time.
How to Apply
To apply for a position with the credit union, please visit the MIT job search site and enter the "Job Number" in the Job ID field.
- Click "Apply Now" and follow the instructions provided.
All applications must go through the MIT HR system.
Go to main navigation