What are the responsibilities and job description for the Contract Administrator position at MidFirst Bank - Default?
The Contract Administrator position will organize, assist, and support the daily responsibilities associated with mortgage servicing transfers and ongoing management of contracts and contract relationships associated with prior mortgage servicing transfers.
Daily assistance of all Transaction Management Functions; this includes but is not limited to:
- Direct support of all Transaction Management projects beginning with onboarding ending with a successful mortgage servicing transfer.
- Assist with the preparation, review, and organization of legal documents related to transactions, including contracts, agreements, and closing documents.
- Maintain and update transaction checklist to ensure all deadlines and requirements are met prior to closing, during closing, and post-closing.
- Coordinate and organize documents for closings, including preparing signatures, compiling documents, and storing final executed copies.
- Coordinate and conduct routine meetings with Sellers throughout the transaction lifecycle.
- Identify and communicate onboarding counterparty issues.
- Support onboarding & closing timeline with external counterparty.
- Manage, coordinate, and track closing and post-closing matters effectively.
- Provide support to Management, Analysts, and Corporate Technology on the design, development and management of servicing transfer reporting, infrastructure and workflow.
- Communicate details of upcoming servicing transfers with internal and external stakeholders including executed agreements, transfer instructions, and controls.
- Situational involvement with internal workgroups for specialized projects.
- Provide assistance in drafting, reviewing, and approving prior servicer claims including review and approval of letters, reporting, and meditation of appealed claims.
- Provide support to management on situational guidance to business units on interpretation and contract application to loan-level scenarios.
ASSOCIATED PERFORMANCE CRITERIA
Supervision Received
Work is performed with supervision.
Job Complexity
Job duties are varied and can be complex.
PREREQUISITE PREPARATION
- Associate’s degree or Paralegal certificate from an accredited program
- Experience with mortgage servicing is a plus, but not required.
- Project management skills are a plus, but not required.
- Previous experience or internship in a corporate legal environment is a plus, but not required.
OTHER POSITION REQUIREMENTS
- Ability to succeed in a fast-paced, goal driven environment and able to meet critical deadlines
- Excellent verbal and written communication skills
- Excellent critical thinking and analytical skills
- Excellent attention to detail
- Proficiency with Microsoft Applications (Excel, Word and PowerPoint) required, Access knowledge preferred
