What are the responsibilities and job description for the Mortgage Servicing Portfolio Transaction Specialist I position at Gateway First Bank?
Jenks, OK - The Servicing Portfolio Transaction Specialist I handles a variety of duties such as processing loan releases, working the payoff que and mortgage recasting. Viable candidates will have some mortgage exp and intermediate Excel skills, be able to follow procedures and pay attention to documentation. An analyst type that enjoys working with numbers will do well in this role, but they also need to enjoy speaking with and helping our customers!
Along with an excellent working environment, Gateway First Bank offers world-class benefits such as:
- 0 copay on brand name and generic meds
- Company contribution to HSA
- $600 wellness credit on premium per year
- LegalShield & IDShield
- Tuition Reimbursement
- Nationwide Pet Insurance
Servicing Portfolio Transaction Specialist I JOB SUMMARY:
The Servicing Portfolio Transaction Specialist I is responsible for performing a variety of loan servicing duties including but not limited to responding to Credit disputes and MERS inquires, preparing satisfactions/reconveyances on loans paid in full in accordance within State Statutory guidelines and Investor/Insurer requirements, they will also provide ongoing support for Special Loan Products (i.e. Recasts, ARM loans, Buydowns, Balloon, SCRA, etc.) originated by the Mortgage Lending Division and loans acquired through acquisition. Perform all duties in accordance with the company's policies and procedures, all US state and federal laws and regulations, wherein the company operates. tasks.
Servicing Portfolio Transaction Specialist I ESSENTIAL FUNCTIONS (RESPONSIBILITIES):
- Performs updating data fields in the servicing system for compliance and changes needed to all types of special loans.
- Performs research and makes accurate and timely system changes in response to requests from investors, customers or employees from other departments.
- Reviews and maintains adjustable-rate mortgage ("ARM") contracts, indexes (i.e. Treasury, Libor, etc.) and balloon plans, if not available in the system create new contracts as needed.
- Maintains the daily index values and populates ARM indices into the servicing system to ensure proper payment calculations included in the payment change notifications.
- Conducts research to determine compliance with the SCRA protection benefits and updates the servicing system accordingly.
- Reviews principal reduction, borrower incentives, recast eligibility, and makes system changes.
- Researches and obtains appropriate file information for paid loans; processes satisfactions, submits for recording. Processes member paid loan documentation.
- Orders Paid Notes from Document custodian and maintain tracking to monitor receipt.
- Responds to customer inquiries and requests; assisting with escalated customer issues and working with the complaint/legal department toward dispute resolution; maintenance to customer or account.
- Reviews the Fatal Error report as well as loan data formats and loan calculations for accuracy to ensure accurate credit reporting.
- Processes loan charge-offs, modifications, settlements, extensions, and mass updates as needed.
- Ensures exception reports produced by Fiserv and vendor software systems are accurate.
- Tracks corrections to credit bureau reporting data as well as reports trends to leadership.
- Completes quality assurance inspections as required, ensuring standardization and compliance with established policies and procedures and applicable regulations.
- Exercises awareness with regard to possible suspicious activity, money laundering or fraudulent behavior and reports any such incidents to the BSA department. Performs all job functions in compliance with all company policies and federal, state, and local laws and regulations as applicable to the position, including, but not limited to BSA/AML, OFAC and GLBA/privacy rules.
- Performs related responsibilities as required or assigned.
Servicing Portfolio Transaction Specialist I REQUIRED QUALIFICATIONS:
Knowledge/Skills/Abilities
- Basic knowledge of lien and service releases.
- Basic knowledge of Special Loan Products, MERS, Recast, ARM Loan Maintenance, SRCA, Credit reporting and loan maintenance.
- Excellent communication skills.
- Proficient in MS Office applications.
- Exemplifies the Gateway Values: Stay Growth Oriented, Make a Difference, "Get it Done" Attitude, Be a Team Player, Do the Right Thing.
Equivalent Education/Experience
- High School Diploma required.
- 0-2 years of experience in Mortgage Loan Servicing.
Servicing Portfolio Transaction Specialist I SPECIAL JOB DIMENSIONS:
None.
NOTE: The essential job functions and associated qualifications contained in this document describe the general nature and level of the work performed. They are not intended to represent an exhaustive listing or be inclusive of all aspects of the job. The tasks and procedures involved in the performance of the essential job functions may vary from day-to-day. Major changes in areas of responsibility may occur, as directed by management, and will require revision of this job description.
