Loan Operations Specialist II
About The Position
The Loan Operations Specialist II will monitor and generate all written communication timely and accurately for all special loan portfolios consisting of Balloon, Adjustable Rate (ARM), Loan Modification process and Service Members Civil Relief Act (SCRA) loans. This position will be responsible for error resolutions of special loan products and process changes/updates to reduce ongoing inaccuracies. The Loan Operations Specialist II, will be the point person for initial internal department questions regarding the processing of special loan functions. This position will support training of special loan functions including reports and MSP data processing.
Requirements
- High school diploma or equivalent required
- Loan servicing experience preferred
- Full understanding of Balloon, Adjustable Rate Mortgage (ARM), and SCRA loan documents preferred
- Understanding of FHA, VA, USDA Government loan products preferred
- Effective verbal and written communication skills with ability to instruct members of team.
- Some reporting experience and data analytics
- Experience using Microsoft Office
- Intermediate Microsoft Excel skills
- Displays strong organizational skills and manages time effectively
- Ability to multi-task and deal with competing priorities
- Ability to meet deadlines
- Ability to adapt to a changing environment
- Ability to understand and utilize investor guidelines
Nice To Haves
- Associated Degree Preferred
Responsibilities
- Updates and reviews the MSP system with all new indices used in the calculation of the ARM portfolio.
- Ensures appropriate correspondence is sent to borrowers in compliance with applicable law and agency guidelines.
- Review upcoming changes to ensure all ARM data is accurate and consumer disclosures are sent timely.
- Supports other members of the team on ARM training and awareness.
- Performs system maintenance and ensures proper documentation for all adjustments made for critical loan data including changes for loan modifications, due date changes and/or deferments.
- Ensures appropriate correspondence is sent to borrowers in compliance with applicable law and agency guidelines.
- Provides support to newer member of the team to ensure department is following process uniformly.
- Completes all data requirements within MSP for Step Rate Modifications, Balloon Loan, Deferred Interest Loan, Pay Option ARMs and any other acquired special loan population that will need specific MSP data requirements.
- Ensures appropriate correspondence is sent to borrowers in compliance with applicable law and agency guidelines and provides support to other member of the team on training and awareness of these special loan requirements.
- Maintains, updates and produces reports for special loan functions to help support the team and identify data discrepancies within current loan portfolio and incoming loan populations.
- Performs miscellaneous duties as assigned.
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
