What are the responsibilities and job description for the Mortgage Loan Servicing Specialist - FT position at Veridian Credit Union?
This is a hybrid position that requires individual to work 2 days a week from one of our locations in Waterloo, IA.
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Application deadline: January 24th, 2025
Location: Lafayette branch, Waterloo - IA
Summary
The primary responsibilities of the Mortgage Loan Servicing Specialist include maintaining escrows on first mortgage loans and maintaining mortgage lending ledgers. Servicing Specialists maintain mortgage insurance, property tax, hazard and flood insurance escrows, including remitting timely payments to payees.
Essential Functions
- Oversee rate and payment changes on mortgage balloon loans. Prepare required modification documents for signature, update servicing system to reflect payment and term changes.
- Coordinate all post-closing general ledger posting/balancing of funds after loan is closed.
- Oversee timely payment to Veridian's appraisers.
- Provide point of contact problem solving and assistance for staff and members.
- Disburse construction loan and escrow holdback funds after reviewing the proper documentation. Track construction progress, lien waivers, and surveys. Coordinate communications with members and contractors on construction loans. Verify accuracy of construction loan documents.
- Work with staff and members on questions on payment changes from the annual analysis of mortgage loan escrow accounts.
- Communicate with county treasurers and our third party tax vendor on member property taxes. Update servicing system to reflect changes to ensure timely payment of taxes.
- Coordinate payment of escrowed insurance premiums (homeowner, mortgage, flood, force placed) with third party vendor. Update servicing system to reflect changes.
- Balance real estate general ledgers on a daily basis.
- Generate weekly and monthly reports as required.
- Balance and remit investor funds.
- Work with Veridian's collateral protection insurance (CPI) vendor and add force placed insurance to mortgages in the servicing system.
- Maintain and report loan status and balances to investors on a monthly basis.
- Ability, availability, and willingness to work flexible hours to accommodate loan volume during periods of peak demand.
Key Attributes
- Oral and written communication skills.
- Member service focus.
- Attention to detail and accuracy.
- Positive attitude that supports a team environment.
- Dependable and punctual; flexible during peak times.
- High level of confidentiality.
- Organizational skills.
- Self-motivated; ability to work without close supervision.
- Problem solving; analysis.
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job:
- Occasionally lift and/or move items over 10 pounds.
- Remain sedentary (seated) for extended periods of time.
Working Conditions
This job operates in a professional office environment and routinely uses standard office equipment.
Travel
Limited travel expected.
Required Education and Experience
- High School Diploma.
- 2 years of mortgage lending or lending experience.
- Fluent computer skills in a Microsoft Windows environment. Must include Excel.
Preferred Education and Experience
- Mortgage Servicing experience.
- Knowledge of loan procedures, related legal and regulatory requirements.
Other Duties
Veridian Credit Union is a PCI compliant financial institution to ensure the security of member information. As such, all employees are expected to ensure security measures are in place and adhered to regarding PCI and other highly secure data compliance requirements.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.