Servicing Representative – Special Loans Specialist at SERVION INC

New Brighton, Minnesota, United States -

Full Time

Start Date

Immediate

Expiry Date

16 Mar, 26

Salary

0.0

Posted On

16 Dec, 25

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Mortgage Lending, Customer Service, Excel, MS Office, Loan Servicing, Regulatory Compliance, Communication Skills, Loan Documentation, Quality Testing, Interest Calculations, ARM Rates, Research Skills, Sagent LoanServ, FNMA Guidelines, GNMA Guidelines, FHLMC Guidelines

Industry

Real Estate

Description

Description SUMMARY: The Special Loans Specialist position monitors and services non-traditional loan products or terms that require maintenance throughout the loan life cycle. These products/terms include but are not limited to: Assumptions, Adjustable-Rate Mortgages (ARMs), Buydowns, Balloons, SCRA protections, Construction Loans and HELOCs. The Special Loans Specialist sets up loan terms on the system of record and performs periodic maintenance to ensure the continued accuracy of loan servicing activities. ESSENTIAL RESPONSIBILITIES & DUTIES: Entry Level Set up loan terms on the system and perform periodic maintenance to ensure the continued accuracy of the loan servicing activities. Monitor deployment status of homeowners in the military and protect servicemembers to the fullest extent available under the law. Read loan agreements, identifies the corresponding loan terms and configures the system to correspond with the agreements. Research loan terms escalated for review and confirms the correct set up. Perform quality testing to ensure loans have been accurately set up. Remediate any issues discovered in testing or setup and communicate progress with managers. Establish and maintain loan-level ARM system data including interest calculations, ARM rates and rate changes. Monitor balloon loan dates to ensure proper notification is given to borrower and loan is paid as promised. Monitor buydown and buydown funds to ensure term of buydown is accurate. Review construction loans and adjust system accordingly if draws are made or loan becomes permanent. Work with production area to process all assumptions, drafts documents and schedules closing. Other duties and responsibilities as assigned. ESSENTIAL 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. Strong communication skills Must be able to provide cordial customer service regardless of customer personality, presence or communication style. Basic Excel, MS Office Ability to research loan documents, analyze their meaning, and determine appropriate action. Experience with Sagent LoanServ servicing platform Experience with FNMA, GNMA and FHLMC guidelines Requirements PREFERRED QUALIFICATIONS: Education: High School Diploma. 2–4-year degree in business or a related field preferred. Experience: 2-5 years in residential mortgage either production or servicing. Licenses/Certifications: None

Responsibilities

The Special Loans Specialist monitors and services non-traditional loan products throughout the loan life cycle. This includes setting up loan terms, performing periodic maintenance, and ensuring the accuracy of loan servicing activities.