Mortgage Operations and Servicing Specialist

Job Title: Mortgage Operations and Servicing Specialist

Department: Mortgage

Reports To: AVP of Mortgage

FLSA Status: Non-Exempt 

Summary 

The Mortgage Operations and Servicing Specialist is responsible for performing a wide range of functions related to mortgage loan funding, post-closing quality control, and mortgage loan servicing. This role helps to ensure compliance with mortgage lending and servicing regulations, internal policies, and investor requirements while delivering exceptional member experience. Key responsibilities include managing escrow accounts, processing and monitoring tax and insurance payments, preparing payoff statements, filing lien releases and coordinating with title companies. The Specialist also communicates with investors to manage daily and monthly accounting for principal, interest, tax, and insurance accounts. Additional duties include audit preparation, file maintenance, and resolving member inquiries related to mortgage account and payment issues. This role may also provide occasional support for commercial and construction loan operations as needed.

Essential Duties

• Perform funding duties, disbursements and wire preparation
• Manage administrative tasks, including generating payment statements and payoffs, maintaining loan records, and overseeing escrow accounts, taxes, and insurance, as well as preparing accounting reports and coordinating shipping duties for investor loans
• Run the Morning TAR report for FHLB
• Perform end of day, end of month and end of year reporting functions
• Prepare and submit Exception Clearing Reports (ECR) to resolve accounting issues with investors
• Ensure proper completion of loan documents and accurate input of loan details into the system. Review payment schedules to ensure accuracy
• Satisfy and/or verify completion of closing/funding conditions as provided by Underwriting.
• Review and verify mortgage loan documents for accuracy 
• Record loan documents with the appropriate county authorities as required
• Maintain original loan documents and coordinate with the title company for Title Policy preparation
• Oversee real estate escrow records and loan files, ensuring accurate documentation for taxes and adequate insurance coverage. Process real estate taxes and insurance payments. Perform annual escrow analysis and update payment schedules, notifying members as necessary
• Prepare satisfaction documents for mortgages on paid-off real estate loans and ensure timely transfer of paid loan files into cold storage
• Balance loan servicing general ledger accounts and prepare monthly reports on the first business day of the following month
• Handle the preparation of closing documents and coordinate funding for the Mortgage team after loan closing
• Generate monthly late and collections reports and send late notices to members on the 17th of each month
• Perform or assist with weekly updates for APOR (Average Prime Offer Rate) in FICS and Symitar systems
• Assist with tickets and follow up with IT/Business Systems when rate adjustments on ARM loans are required
• Collect necessary items for third-party audits
• Work with insurance companies to obtain required documentation and proof of coverage
• Manage closing coordination with title companies, including balancing, funding, wiring and recording
• Ensure accurate maintenance of loan information on FICS MS and Symitar, including assisting with the setup of automatic payment transfers, distributions, wire transfers, payment corrections, payoffs, and generating statements and late notices
• Address member inquiries related to existing Mortgage loans, including providing amortization schedules and loan payoff information, answering loan servicing questions and addressing issues with payment application and payment errors
• Assist with delinquent loan management and communication in coordination with the Credit Relations Manager
• Handle incoming and outgoing mail including travel to the P.O. Box
• Manage the active and inactive loan files and retention monitoring
• Provide notary services
• Monitor turnaround times for member callbacks and issue resolution 
• Create, review and maintain accurate Standard Operating Procedures
• Conduct quality control follow-ups, including post-account opening and loan closing member callbacks
• Manage monthly supply orders and maintenance requests for the mortgage department
• Perform some commercial/construction loan maintenance and payoff tasks, including posting Participation payments as necessary
• Maintain a member-focused, passionate, and dedicated mindset every day
• Approach each member interaction with empathy, helpfulness, and an open-minded attitude
• Proactively address issues and offer creative solutions to improve the overall experience of doing business with RGCU
• Assist with other duties as directed by the AVP of Mortgage, Mortgage Manager, and Senior Management or President/CEO
• Accurately verify member identification for all transactions using RGCU-approved identification methods
• Ensure the accurate update of Customer Identification Program (CIP) information in the core processor for all prime and joint accounts and customers
• Perform OFAC checks during transactions such as opening new accounts, adding individuals to accounts, issuing cashier’s checks or money orders, and processing wires
• Complete and scan all required Bank Secrecy Act documentation, including business account questionnaires and the Beneficial Ownership form
• Regularly review accounts, loans, and transactions for potential red flags
• Report any suspicious activity to the Risk Management department via the compliance group email
• Other duties as assigned

Supervisory Responsibilities                  

This job has no supervisory responsibilities.

Qualifications 

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience

• Experience - 6 months to 2 years of related experience
• Education - 2-year college degree or specialized course of study or 2 years related experience.

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. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly required to sit and use hands. The employee is frequently required to reach with hands and arms and talk and hear. 

Work Environment 

The work environme­­nt characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.

Rio Grande Credit Union is an Affirmative Action and Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.