Loan Servicing Operations - MT

This individual must possess both a professional demeanor and be willing to perform various tasks in multiple functional departments. This position is required to provide Investor expertise to effectively manage the bank's servicing portfolio. This position is also responsible for proper payment of loan invoices associated with the origination process. Additionally, support of the loan servicing function is necessary, and this individual must be able to effectively and cooperatively work with multiple supervisors and perform job duties in accordance to and in the spirit of the bank's mission statement.

Servicing Operations

•Maintain knowledge of bank's core operating system and loan operating system

•Disburse funds from Loss Draft Accounts and Spruce up loans

•Sell/Release Loans to Investors

•Maintain level of knowledgeable about Investor servicing and reporting requirements.

•Quote Fannie Mae interest rates to lending staff

•Lock loan rates and terms for delivery to Investors

•Book and fund all loan types

•Post loan and lease payments

•Post payoffs pull paid notes and mortgages and prepare mortgage releases

•Track filing and releases of UCC liens

•Completes review of loans set up in core processing system for accuracy

•Ships FNMA and MPF loans to investors

•Interact effectively with customers to resolve loan servicing issues

•Monitor escrow accounts for proper tax and insurance payments

•Pay all invoices associated with loan costs incurred by the borrower and lender to originate the loan.

•Properly document fees paid to customer in conjunction with loan servicing procedures

.•Refund necessary fees to the customer after all invoices are paid on their behalf.

•Submit check payment to proper vendor within the appropriate amount of time.

•Process insurance renewal notices, expired and missing insurance and insurance cancellation notices while verifying for accuracy

•Update daily activity and new information in core processor and scan notices and correspondence

•Contact insurance agents to secure missing proof of insurance or deficient coverage amounts

•Verify that bank's lien position is listed correctly on binders, Certificates or insurance policies and conduct timely follow up with insurance agents to obtain corrected documentation

•Maintain written and oral contact customers/borrowers to obtain missing or deficient insurance coverage

•Force place insurance coverage when applicable, and remit premium payment for force placed insurance, increasing loan principal in FPS accordingly, and notify customer of bank actions taken.

•Handle the payment of insurance on escrowed loans.

•Prepare and distribute missing insurance reports.

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