What are the responsibilities and job description for the Real Estate Servicing Specialist position at Together Credit Union?
Job Summary
The real estate servicing specialist is responsible for managing and maintaining a portfolio of mortgage and home equity loans. This position will resolve complex problems, maintain compliance with all related regulations and guidance, and provide excellent service to internal and external members, performing all functions in full compliance applicable regulations. This position is hybrid/St. Louis.
Job Responsibilities
The intent of this job description is to provide a representation of the types of duties and level of responsibilities required of this position and is not intended to be an exhaustive list of all responsibilities, duties, and skills. Team members may be directed to perform job-related tasks others than those specifically stated in this description.
- Maintains responsibility for the daily maintenance and distribution of member escrow accounts to include flood, private mortgage insurance (PMI), property taxes, home owners insurance, and condo associations in accordance with all local, state and federal guidelines; analyzes in accordance with guidelines and expertly explains analysis to members.
- Manages adjustable-rate mortgage (ARM) change process to include compliance with initial contact guidelines and system maintenance in accordance with Credit Union procedures; calculates, analyzes, and completes ARM rate and payment changes.
- Manages daily account activity to include payment processing, deed releases, mortgage payoffs, and bankruptcy status changes.
- Completes file maintenance and produces monthly statements for all mortgage and home equity loans.
- Obtains requested documentation to analyze and prepare recording documentation for subordination agreements.
- Prepares and sends subordination agreements, release documents, signed deed of trust, mortgage, and deeds for eRecording, audits received documentation for accuracy, and performs other duties related to loan servicing such as loan moves, credit reporting, and insurance claims.
- Assists in the preparation of annual PMI notification, monthly late notices, annual 1098, and 1099 forms.
- Assists branch personnel with various loan servicing problems.
- Performs research to correctly identify and resolve member issues and communicates resolutions to members.
- Acts as a subject matter expert (SME) for all servicing related inquiries for mortgage and home equity loans.
- Manages the daily general ledger accounts for all assets under management to include balancing, remittance, and reporting.
Provides recommendations to manager to improve servicing processes through streamlining procedures, system shortcuts, and improved productivity.
Required Qualifications
An equivalent combination of education, training, and experience will be considered.
- High school diploma
- Minimum of 3 years’ related experience
Knowledge, Skills, and Abilities (KSA’s)
A representation of the knowledge, skills, and abilities necessary to perform this job competently.
- Knowledge of applicable regulatory agencies to include Federal National Mortgage Association (FNMA), Federal Home Loan Banks (FHLB), US Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA), Department of Veterans Affairs (VA), and the Consumer Financial Protection Bureau (CFPB).
- Strong critical thinking, multitasking, and analytical skills.
- Strong written and verbal communications skills.
- Possess thorough knowledge and understanding of real estate loan servicing, loss mitigation, compliance rules, and requirements.
- Ability to perform daily operations according to Federal, State, Together Credit Union and secondary market delinquent servicing and loss mitigation policies.
- Ability to perform duties under minimal supervision and actively engage with supervisor and related departments within the Credit Union to resolve issues.
- Ability to work in a fast-paced environment and prioritize work.
- Ability to professionally handle confidential and sensitive information.
- Ability to promote a positive relationship between the members (internal and external) and the Credit Union.
- Strong commitment to service delivery prioritization.
- Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act (BSA), Patriot Act, and the Office of Foreign Assets Control (OFAC).
Work Environment
Environmental or atmospheric conditions commonly associated with the performance of this job’s functions.
- General office setting
Physical Abilities
The physical demands described below are representative of those that must be met by an employee to successfully perform this job’s essential functions. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
- Ability to work at a computer in a stationary manner up to 8 hours daily.
Together Credit Union is an Equal Opportunity employer. The Credit Union complies with appropriate federal, state, and local laws and provides equal employment opportunities without regard to race, color, religion, gender, age, sexual orientation, gender identity, national origin, veteran status, disability, or any other protected status to all qualified applicants and employees. Together Credit Union is committed to a policy of non-discrimination and dedicated to providing a positive discrimination-free work environment.
