Mortgage service specialist job description
Updated March 14, 2024
10 min read
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Example mortgage service specialist requirements on a job description
Mortgage service specialist requirements can be divided into technical requirements and required soft skills. The lists below show the most common requirements included in mortgage service specialist job postings.
Sample mortgage service specialist requirements
- Experience in mortgage servicing
- Knowledge of federal regulations and guidelines
- Ability to analyze financial documents
- Proficiency in Microsoft Office Suite
- Strong communication and interpersonal skills
Sample required mortgage service specialist soft skills
- Strong attention to detail
- Ability to work independently and in a team environment
- Excellent problem-solving skills
- Ability to prioritize and manage multiple tasks
- Customer service-oriented mindset
Mortgage service specialist job description example 1
First Commerce Credit Union mortgage service specialist job description
Come grow with us!
First Commerce is expanding and we want you to join our dynamic, winning team. At FCCU, you can expect competitive pay, best in class benefits, initial and ongoing training and development, and career growth opportunities. Don't just look for a job, consider a career where you empower people to enhance their financial well-being and make a difference to our communities. Apply with us today!
The primary purpose of the Mortgage Loan Servicer is to assist First Commerce in fulfilling our Vision To Be Our Member's Financial Partner for Life. This is achieved through delivering Remarkable Member Service as defined by our Service Standards as well as building and maintaining strong member relationships through identification of member's financial needs and effectively recommending appropriate products and services to meet those needs.
The Mortgage Loan Servicer is responsible for the overall servicing administration of the credit union's mortgage portfolio and loans sold on the secondary market. Performs complex mortgage loan servicing and administration functions to support the credit union's investor clients and borrower requirements. Performs routine servicing functions while assuring compliance with CFPB. RESPA, Reg. Z, and Freddie Mac servicing requirements.
RESPONSIBILITIES:
* Maintains compliance of assigned loan portfolio within the terms of the loan documents including insurance coverage, payment of property taxes, and timeliness of loan payments. Aggressively pursue collection of payment of delinquent property taxes, and evidence of required insurance coverage.
* Inputs/boards loans to the FICS Mortgage Servicing System, performs data to document comparison of various data points on the servicing system, validates accuracy of the mortgage loan servicing system data assuring accurate set up for proper amortization of the loan, escrows, ARM setup, and investor reporting for loans sold on the secondary market.
* Performs annual mortgage loan portfolio escrow analysis assuring compliance with current regulations. Understands, reviews and explains escrow account analysis letters to members regarding overages and shortages. Maintain accurate records of insurance and taxes on all real estate loans.
* Responds to inquiries from borrowers, management, rating agencies, auditors, and investors.
* Reconciles various loans servicing general ledger accounts, reviews and validates custodial account reconciliations completed by third party vendor QIE Partners.
* Performs analysis of requests for transfer, assumption and/or modification, recommends appropriate action to management, and communicates in writing to borrower or correspondent servicer. Analyzes loan modifications and makes changes to loan files and servicing system. Maintains loan file documentation.
* Provides accurate and timely payoffs to members and title companies, provides mortgage status statements upon request. Ensures accurate and timely processing of payoff transactions.
* Performs accurate and timely investor reporting to loans sold secondary market vendors.
* Pursues opportunities for professional growth and knowledge through training, education, and self-study.
Other Responsibilities:
* Performs job duties in accordance with policies established by the Board of Directors under the rules and regulations set by the National Credit Union Administration, the State of Florida and any applicable State laws for financial centers located in other States.
* Complies with Reg E, BSA, OFAC and CIP requirements such as reporting suspicious or unusual activity to manager.
* Fully supports in actions and words First Commerce's Vision, Mission, Core Values and Service Standards.
* Attends meetings timely and as required; reports to work as scheduled and adheres to First Commerce's dress code.
* Performs other duties as assigned.
REQUIREMENTS:
* Expresses ideas clearly in written and oral communications; organize workload and prioritize tasks to meet changing priorities and deadlines; work effectively in collaboration with peers and team members.
* Skillful in general math calculations.
* Proficient in Microsoft Word and Excel software programs. Demonstrated ability to type, run fax, and calculator properly.
* Excellent analytical, organizational, adaptable, and interpersonal skills required.
* Identify issues and create resolutions quickly.
* Must be composed and professional under deadline pressure.
EDUCATION AND EXPERIENCE:
* A minimum of a high school diploma is required. Associate or bachelor's degree in Finance, Accounting, or Business preferred.
* A minimum of 5+ years' experience in a financial institution or 2 years in Mortgage Origination company. Prefer 2+ years of mortgage servicing experience or mortgage processing.
* Relevant prior experience preferred.
Americans with Disability Specifications
The primary work location for this position is a First Commerce building. Team members may be requested to work in different First Commerce Financial Center locations.
First Commerce is expanding and we want you to join our dynamic, winning team. At FCCU, you can expect competitive pay, best in class benefits, initial and ongoing training and development, and career growth opportunities. Don't just look for a job, consider a career where you empower people to enhance their financial well-being and make a difference to our communities. Apply with us today!
The primary purpose of the Mortgage Loan Servicer is to assist First Commerce in fulfilling our Vision To Be Our Member's Financial Partner for Life. This is achieved through delivering Remarkable Member Service as defined by our Service Standards as well as building and maintaining strong member relationships through identification of member's financial needs and effectively recommending appropriate products and services to meet those needs.
The Mortgage Loan Servicer is responsible for the overall servicing administration of the credit union's mortgage portfolio and loans sold on the secondary market. Performs complex mortgage loan servicing and administration functions to support the credit union's investor clients and borrower requirements. Performs routine servicing functions while assuring compliance with CFPB. RESPA, Reg. Z, and Freddie Mac servicing requirements.
RESPONSIBILITIES:
* Maintains compliance of assigned loan portfolio within the terms of the loan documents including insurance coverage, payment of property taxes, and timeliness of loan payments. Aggressively pursue collection of payment of delinquent property taxes, and evidence of required insurance coverage.
* Inputs/boards loans to the FICS Mortgage Servicing System, performs data to document comparison of various data points on the servicing system, validates accuracy of the mortgage loan servicing system data assuring accurate set up for proper amortization of the loan, escrows, ARM setup, and investor reporting for loans sold on the secondary market.
* Performs annual mortgage loan portfolio escrow analysis assuring compliance with current regulations. Understands, reviews and explains escrow account analysis letters to members regarding overages and shortages. Maintain accurate records of insurance and taxes on all real estate loans.
* Responds to inquiries from borrowers, management, rating agencies, auditors, and investors.
* Reconciles various loans servicing general ledger accounts, reviews and validates custodial account reconciliations completed by third party vendor QIE Partners.
* Performs analysis of requests for transfer, assumption and/or modification, recommends appropriate action to management, and communicates in writing to borrower or correspondent servicer. Analyzes loan modifications and makes changes to loan files and servicing system. Maintains loan file documentation.
* Provides accurate and timely payoffs to members and title companies, provides mortgage status statements upon request. Ensures accurate and timely processing of payoff transactions.
* Performs accurate and timely investor reporting to loans sold secondary market vendors.
* Pursues opportunities for professional growth and knowledge through training, education, and self-study.
Other Responsibilities:
* Performs job duties in accordance with policies established by the Board of Directors under the rules and regulations set by the National Credit Union Administration, the State of Florida and any applicable State laws for financial centers located in other States.
* Complies with Reg E, BSA, OFAC and CIP requirements such as reporting suspicious or unusual activity to manager.
* Fully supports in actions and words First Commerce's Vision, Mission, Core Values and Service Standards.
* Attends meetings timely and as required; reports to work as scheduled and adheres to First Commerce's dress code.
* Performs other duties as assigned.
REQUIREMENTS:
* Expresses ideas clearly in written and oral communications; organize workload and prioritize tasks to meet changing priorities and deadlines; work effectively in collaboration with peers and team members.
* Skillful in general math calculations.
* Proficient in Microsoft Word and Excel software programs. Demonstrated ability to type, run fax, and calculator properly.
* Excellent analytical, organizational, adaptable, and interpersonal skills required.
* Identify issues and create resolutions quickly.
* Must be composed and professional under deadline pressure.
EDUCATION AND EXPERIENCE:
* A minimum of a high school diploma is required. Associate or bachelor's degree in Finance, Accounting, or Business preferred.
* A minimum of 5+ years' experience in a financial institution or 2 years in Mortgage Origination company. Prefer 2+ years of mortgage servicing experience or mortgage processing.
* Relevant prior experience preferred.
Americans with Disability Specifications
The primary work location for this position is a First Commerce building. Team members may be requested to work in different First Commerce Financial Center locations.
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Mortgage service specialist job description example 2
TEG Federal Credit Union mortgage service specialist job description
Job DescriptionTEG Federal Credit Union is seeking an organized and detail-oriented
Mortgage Servicing Specialist
to join our Residential and Commercial Lending team in our new Mortgage Center in Hopewell Junction, NY. This is an exciting opportunity to be a part of an organization that encourages individuals to learn, grow, advance, and achieve excellence in a collaborative and supportive environment.
As the Mortgage Servicing Specialist, you will be responsible for loan payment processing and administration, reconciliation, administration of insurances, preparation of periodic loan accounting reports, and escrow account management and analysis. If you have experience processing, closing, and/or servicing residential mortgage loans, we want to talk to you!
Perks and Benefits:
What You’ll Do as the Mortgage Servicing Specialist (Responsibilities):
What We’re Looking For (Qualifications):
Pay:
$21 - $26 / hour, based on experience
Apply NOW for immediate consideration!
TEG Federal Credit Union is an Equal Opportunity Employer. Applications are considered on the basis of skills, experience and qualifications without regard to race, age, creed, color, nationality, gender, sexual orientation, gender identity, marital status, military background, disability or any other legally protected status. All employment related decisions are made in accord with this policy.
Mortgage Servicing Specialist
to join our Residential and Commercial Lending team in our new Mortgage Center in Hopewell Junction, NY. This is an exciting opportunity to be a part of an organization that encourages individuals to learn, grow, advance, and achieve excellence in a collaborative and supportive environment.
As the Mortgage Servicing Specialist, you will be responsible for loan payment processing and administration, reconciliation, administration of insurances, preparation of periodic loan accounting reports, and escrow account management and analysis. If you have experience processing, closing, and/or servicing residential mortgage loans, we want to talk to you!
Perks and Benefits:
- Work-life balance and supportive, team-oriented environment
- Comprehensive health, dental, and vision insurance
- 401k match
- Defined benefit plan (Pension)
- Paid Time Off, and more!
What You’ll Do as the Mortgage Servicing Specialist (Responsibilities):
- Maintain mortgage information, including payment postings, verifying new loans entered, updating member information, and processing payoffs and curtailments
- Prepare monthly billing statements, adjustments, and work with accounting to balance general ledgers
- Escrow account management, including payment of taxes and insurances
- Process escrow analysis reports monthly
- Run periodic daily and monthly reports through servicing system (FICS)
- Answer telephone inquiries from members and coworkers regarding payments, escrow accounts and analysis reports, and details of existing loans
- Process hazard loss claims on residential mortgages
- Document hardship requests in MS system; prepare documents, communicate with borrower and Collections
- Service CTP/Homestyle/Commercial Construction and Commercial Residential loans
- Process the export of loans purchased by investors
- Prepare routine letters to members
What We’re Looking For (Qualifications):
- At least 3 years of experience processing, closing, and/or servicing mortgage loans
- Excellent customer service and member relationship skills
- Proficiency with Microsoft Excel
- Knowledge of PC Lender and/or FICS systems is a plus
- Must be available to work end of month as required (may involve remote weekend assignments several times a year)
Pay:
$21 - $26 / hour, based on experience
Apply NOW for immediate consideration!
TEG Federal Credit Union is an Equal Opportunity Employer. Applications are considered on the basis of skills, experience and qualifications without regard to race, age, creed, color, nationality, gender, sexual orientation, gender identity, marital status, military background, disability or any other legally protected status. All employment related decisions are made in accord with this policy.
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Mortgage service specialist job description example 3
Dupaco Community Credit Union mortgage service specialist job description
You're proactive. Analytical. Organized. Motivated. You think outside the box to resolve complex issues. Your greatest satisfaction comes from organizing data and verifying compliance to regulations because "Detailed" is your middle name. You're experienced in the world of mortgage servicing or accounting: ensuring mortgage loans are serviced in accordance with regulations, compliance, and investor requirements while partnering with the Accounting department to confirm accurate processing of funds. If your dream job is a hands-on position that is challenging and rewarding, then look no further than the Mortgage Servicing Investor Specialist opportunity at Dupaco!
You Will:
+ Process daily Fannie Mae purchases by accurately setting up the "child" side of the loans using the Fannie Mae Purchase Advice, and make corresponding general ledger entries.
+ Process daily Fannie Mae rejects by obtaining information from Fannie Mae website, take actions to clear, research, and perform maintenance to loans to match Fannie Mae. Send report to Accounting.
+ Complete unapplied funds report and workout on 18th of month and end of month. Requires research and transaction posting. Keep monthly reports and provide to investors upon request.
+ Obtain from Accounting Fannie Mae Schedule 1 Form 473 and research update exceptions monthly.
+ Partner with Accounting Department on Fannie Mae and FHLB balancing differences.
+ Prepare and balance monthly Insurance claim tracking report and present to investors as needed.
+ Prepare and upload FHLB report monthly.
+ Review, research and maintain FHLB rejects, obtain initial TAR, and complete the ECR monthly.
+ Submit and ensure follow up on loan modifications (payment recasts) to Fannie Mae and FHLB.
+ Process Investor deferrals (Fannie & FHLB) and internal deferrals (Dupaco) received from Member Solutions. This includes making specific loan entries and maintenance using a pre-defined worksheet. Work with Accounting to make offsetting entries.
+ Process Investor modifications received from Member Solutions which requires loan entries and maintenance completed using a predefined worksheet. Work with Accounting to make offsetting entries.
+ Assist member solutions with Escrow What If's by reviewing escrow analysis, running test analysis, and making recommendations to bring current.
+ Partner with Member Solutions on short sales, repo's, charge offs to complete entries and maintenance to loans. Work with Accounting to make offsetting entries.
+ Answer mortgage inquiries over the phone and in person.
+ You'll need:
+ High School diploma or equivalent. (i.e. GED.)
+ Experience in accounting, required
+ Experience in mortgage servicing or investor reporting, preferred
+ Interpersonal skills necessary to gather data from a number of sources and to represent positively the credit union during such contacts.
+ Excellent computer skills
+ Demonstrate complex problem solving and strong decision-making skills
+ Must be able to prioritize while working on multiple projects simultaneously
+ Must be detail oriented, organized, and accurate
Qualifications
Skills
Preferred
+ Word Processing: Intermediate
+ Microsoft Excel: Advanced
+ Administrative: Intermediate
Behaviors
Preferred
+ Functional Expert: Considered a thought leader on a subject
+ Detail Oriented: Capable of carrying out a given task with all details necessary to get the task done well
Motivations
Preferred
+ Self-Starter: Inspired to perform without outside help
+ Goal Completion: Inspired to perform well by the completion of tasks
+ Financial: Inspired to perform well by monetary reimbursement
Education
Required
+ High School or better
Experience
Preferred
+ 1 year: Mortgage Servicing
+ 1 year: Accounting
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
You Will:
+ Process daily Fannie Mae purchases by accurately setting up the "child" side of the loans using the Fannie Mae Purchase Advice, and make corresponding general ledger entries.
+ Process daily Fannie Mae rejects by obtaining information from Fannie Mae website, take actions to clear, research, and perform maintenance to loans to match Fannie Mae. Send report to Accounting.
+ Complete unapplied funds report and workout on 18th of month and end of month. Requires research and transaction posting. Keep monthly reports and provide to investors upon request.
+ Obtain from Accounting Fannie Mae Schedule 1 Form 473 and research update exceptions monthly.
+ Partner with Accounting Department on Fannie Mae and FHLB balancing differences.
+ Prepare and balance monthly Insurance claim tracking report and present to investors as needed.
+ Prepare and upload FHLB report monthly.
+ Review, research and maintain FHLB rejects, obtain initial TAR, and complete the ECR monthly.
+ Submit and ensure follow up on loan modifications (payment recasts) to Fannie Mae and FHLB.
+ Process Investor deferrals (Fannie & FHLB) and internal deferrals (Dupaco) received from Member Solutions. This includes making specific loan entries and maintenance using a pre-defined worksheet. Work with Accounting to make offsetting entries.
+ Process Investor modifications received from Member Solutions which requires loan entries and maintenance completed using a predefined worksheet. Work with Accounting to make offsetting entries.
+ Assist member solutions with Escrow What If's by reviewing escrow analysis, running test analysis, and making recommendations to bring current.
+ Partner with Member Solutions on short sales, repo's, charge offs to complete entries and maintenance to loans. Work with Accounting to make offsetting entries.
+ Answer mortgage inquiries over the phone and in person.
+ You'll need:
+ High School diploma or equivalent. (i.e. GED.)
+ Experience in accounting, required
+ Experience in mortgage servicing or investor reporting, preferred
+ Interpersonal skills necessary to gather data from a number of sources and to represent positively the credit union during such contacts.
+ Excellent computer skills
+ Demonstrate complex problem solving and strong decision-making skills
+ Must be able to prioritize while working on multiple projects simultaneously
+ Must be detail oriented, organized, and accurate
Qualifications
Skills
Preferred
+ Word Processing: Intermediate
+ Microsoft Excel: Advanced
+ Administrative: Intermediate
Behaviors
Preferred
+ Functional Expert: Considered a thought leader on a subject
+ Detail Oriented: Capable of carrying out a given task with all details necessary to get the task done well
Motivations
Preferred
+ Self-Starter: Inspired to perform without outside help
+ Goal Completion: Inspired to perform well by the completion of tasks
+ Financial: Inspired to perform well by monetary reimbursement
Education
Required
+ High School or better
Experience
Preferred
+ 1 year: Mortgage Servicing
+ 1 year: Accounting
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
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Updated March 14, 2024
Updated March 14, 2024