Payoff Specialist (Mortgage Servicing) at SERVION INC

New Brighton, Minnesota, United States -

Full Time

Start Date

Immediate

Expiry Date

15 Apr, 26

Salary

23.98

Posted On

15 Jan, 26

Experience

0 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Mortgage Servicing, Administrative Work, Customer Service, Payoff Process, Regulatory Requirements, Document Preparation, Problem Solving, Data Collection, Communication Skills, Mortgage Loan Software, Training, Research, Record Keeping, Escrow Management, FHA, FNMA

Industry

Real Estate

Description

Description SUMMARY: Extensive administrative work involved in servicing the mortgage loans with a focus on the payoff process and providing direct member service to the borrowers. Primary contacts include borrowers, investors, county representatives and vendors. ESSENTIAL RESPONSIBILITIES & DUTIES: Entry Level Issue payoff statements per requestors specific instructions. Process payoff checks in a timely manner. Draft satisfactions/release per county requirements and timeframes. Disburse refund of any overage received with the payoff as well as escrow funds. Assemble final document package to be archived. Send notification of payoff letters to homeowner’s insurance company and tax authority. Request note through Document Custodian or pull from Portfolio files. If no note found draft the Affidavit of Lost Note within 30-45 days. Send paid in full documentation to the customer. Monitor payoff call queue. Determine payoff calculations with or without escrows and fee's. Then produce within 24 hours including attorney fees if applicable: Use FHA, FNMA, Conventional. Adjust member mailing address for refunding excess escrow or interest within 10 days. Senior Level II Must be able to perform all responsibilities and functions listed for Level I with a high degree of efficiency and independence. Responsible for the training of new and current Payoff Specialists. Research any missing information through various lender representatives Record drafted and signed release document to the proper county. Determine if there is a need to deactivate loan with MERS, fill out 11708 for FHA. Collect and pay PMI or MIP if needed. Send cancellation letters to MI companies. OTHER DUTIES, KNOWLEDGE, SKILLS, ABILITIES: Required: Thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirements. Familiarity with AllRegs. Ability to work the days and hours necessary to perform all assigned responsibilities and tasks. Must be available (especially during business hours or shifts) to communicate with subordinates, supervisors, customers, vendors, and any other person or organization with whom interaction is required to accomplish work and employer goals Reporting, letter preparation, group presentation and other related communications skills. Proficiency in using and learning mortgage loan software. Ability to define problems, collect data, establish facts and draw valid conclusions. Ability to attend meetings or perform other assignments at locations outside the office, if necessary. Preferred: Experience with CSC, Simplifile and/or MERS. Familiarity with various document custodians. Familiarity with state and county documentation specifications. COMPENSATION: $20.60 – $23.98 per hour. Servion has provided a salary range that represents its good faith estimate of what the company may pay for the position at the time of posting. The specific salary offered will be determined based on factors such as the qualifications of the selected candidate, departmental budget, internal salary equity considerations, and available market information . General Description of Benefits: All full-time employees are eligible for Medical Insurance, Telehealth Services, Dental Insurance, Vision Insurance, Life Insurance, Short-term Disability, Long-term Disability, Legal and Identity Theft Protection, Critical Illness Insurance, Hospital Insurance, Accident Insurance, Participation in 401k Plan with up to 5% company match, and Variable Bonus Pay. Requirements PREFERRED QUALIFICATIONS: Education: High School Diploma or GED Experience: Entry level 1-3 years in residential mortgage servicing. Sr level 3+ years experience in the mortgage industry. Licenses/Certifications: None

Responsibilities

The Payoff Specialist is responsible for servicing mortgage loans with a focus on the payoff process, including issuing payoff statements and processing checks. They also provide direct member service to borrowers and interact with various stakeholders.