Mortgage Servicing Specialist

Truliant's mission is to improve lives by putting our members first, providing great service and straightforward financial solutions. Our core values of Member Focus, Service, Guidance, Relationships, and Community define how we interact with members to fulfill our mission of improving lives and providing a foundation on which we conduct ourselves.

Our Promise to Our Teammates: Truliant strives to provide all teammates with an enjoyable place to work where they feel valued, empowered and rewarded for all that they do.

Purpose of the Job

The Mortgage Servicing Specialist will assist in the daily processing of mortgage loan transactions, boarding of new loans, escrow analysis and disbursement, report analysis, transmitting electronic file submissions to core financial platform, secondary market investor (Fannie/Freddie, etc) reporting and other mortgage servicing-related duties.

Essential Functions and Responsibilities

• Boards new mortgage loans into servicing platform from mortgage origination software, ensuring accuracy of loan setup information, due dates and escrow information.
• Generates initial escrow disclosures after loan set-up.
• Applies payments & payoffs within the loan servicing platform.
• Researches missing/exception payments.
• Prepares pay-off letters to closing agents.
• Maintains and updates escrow accounts with timely tracking of due dates and disbursements, reconciles open billing items for taxes and insurance and mortgage insurance.
• Monitors upcoming escrow disbursements, submits check requests to Accounting and mails payments in a timely manner and ensuring continuation of all members polices.
• Researches missing policies by contacting vendors or members and updates the servicing system on an ongoing basis.
• Generates and submits monthly billing notices, delinquency notices and monthly statements to vendors.
• Performs investor servicing reporting and remittance functions, adhering to investor and regulatory requirements. Reconciles remittances with associated general ledger and custodial accounts and coordinates reporting via investor portals.
• Assists member with loss mitigation requests, including determining eligibility for assistance, the reason for default, member intent and ability to repay, as well as identifying possible loss mitigation options and solutions. Presents recommendations to the Supervisor, Mortgage Servicing for approval. Advises the member of available options to resolve delinquency and default. Prepares documents required for a workout option.
• Performs monthly system-to-system MERS reconciliations between the servicing system and both MERS Online and the MERS eRegistry to ensure data in both systems is accurate and complete. Compiles data and reports required for MERS Annual Report and examination.
• Reconciles construction draws to the servicing system, releases construction draws and guides member through transition to the permanent loan when construction is complete.
• Prepares lien releases and cancellations with the appropriate State/County recorder's office.
• Prepares 1098 Mortgage Interest Statements for mailing and electronic uploading to IRS; handles member inquiries.
• Answers member-owner questions regarding all aspects of the servicing of the mortgage loan.

Other Duties and Responsibilities

• Cross-trains to perform post-closing duties, as needed.
• Assists with other tasks and projects as assigned.

Knowledge, Skills, and Abilities

• Must have sound understanding of standard concepts, practices, procedures, as well as services offered by the credit union
• Must have strong knowledge of all aspects of mortgage loan servicing operations including federal regulations and compliance within the loan production & servicing environment
• Must have excellent communication skills in English, both verbal and written
• Must be familiar with Freddie Mac and Fannie Mae selling, delivery and servicing sites
• Must have experience with Encompass or other similar loan origination software
• Must have experience with FICS Mortgage Servicer or other comparable mortgage servicing software
• Must have intermediate knowledge on Microsoft Excel and Word and mortgage servicing systems
• Must be able to secure, build and maintain strong vendor relationships needed for servicing first mortgage loans
• Must have strong time management skills and be able to efficiently & effectively work under multiple deadlines
• Must have knowledge of basic accounting principles preferred
• Must have ability to understand all business processes within the credit union
• Must meet requirements to be bonded
• Must be detail oriented and well organized
• Must be able to work in a general office environment
• Must be flexible and able to shift resources and priorities as required
• Must be able to complete all assignments with minimal supervision
• Should possess a strong commitment to providing excellent service to Truliant's members

Physical Requirements

• Occasional standing, walking, bending, and stooping required
• Must be able to sit at a desk for long periods of time and use a computer
• Must be able to moderately lift or move up to 5 pounds and occasionally lift or move up to 10 pounds

Education and Background

• Four-year college degree or equivalent in Finance or Business is preferred
• 3 years mortgage operations or equivalent experience required
• 2 years of mortgage servicing experience preferred

If you have a passion for member service and would like to invest in a meaningful career with opportunity for growth, we encourage you to apply to Truliant!

As a member of the Truliant family, you will enjoy the following full time benefits:

• No-cost employee Medical, dental, vision coverage
• Prescription benefits (including mail order)
• Paid holidays and Paid Time Off (PTO)
• 401(k) plan with contribution matching
• Paid community involvement volunteers hours
• Paid group life Insurance
• Teammate loan discounts
• Tuition reimbursement
• Short and long-term disability
• Health & Wellness program
• Teledoc (physician video conferencing)
• Onsite fitness facilities or health club reimbursement
• Employee Assistance Program (EAP)
• Medical flexible spending account
• Dependent care flexible spending account