Mortgage and Secondary Market Specialist

Jeanne D Arc Credit Union•Lowell, MA

About The Position

The Mortgage and Secondary Market Servicing Specialist supports the activities of the Loan Servicing department, including help desk, mortgage, and home equity loan setup and quality control, investor reporting and remittance, correspondent loan delivery, tax and insurance processing, mortgage discharges, and other related activities. Adheres to Credit Union policies and procedures to ensure ethical and compliant business practices.

Requirements

One year of related experience is required.
High school diploma or equivalent required or an equivalent combination of education and experience.
Position requires a significant amount of personal contact with others inside and outside the Credit Union, thus requiring a high degree of confidentiality, discretion, diplomacy, and tact in communication. Builds relationships and fosters positive interactions with Credit Union team members, members, and vendors by demonstrating friendly, helpful, and efficient service. Good written and verbal communication skills are required, including communicating clearly and concisely. Patience, active listening, and sound judgment are required. Must have the ability to understand and communicate products, services, and regulations.
Proficiency with Microsoft Office, business applications, learning the core system and other related software is required. Must have the ability to apply cognitive reasoning to daily tasks, take ownership, and work independently and as part of a collaborative team. Must be highly motivated, detail-oriented, organized, skillful with time management, and efficient with multitasking.

Responsibilities

Sets up all new residential mortgages, construction loans, home equity loans, and lines of credit; ensures accuracy of loan data and funding of all entries.
Performs quality control activities for all new residential mortgages, construction loans, home equity loans, and lines of credit to ensure receipt of appropriate documentation and the accuracy of loan setup.
Supports the sale and delivery of loans to Fannie Mae (FNMA) and other secondary market investors and correspondent lenders following each investor's guidelines and remittance schedules.
Participates in real estate tax escrow processing, including payments to taxing authorities, annual escrow analysis, and tax and water liens; serves as primary liaison with the third-party tax-service provider.
Prepares mortgage discharges and subordination of mortgages to release or secure our lien position on secured property.
Performs all insurance processing activities, including payments of private mortgage insurance (PMI), homeowner's and flood insurances, force-placed insurance processing, flood zone monitoring and map changes, PMI terminations and cancellations, and annual PMI member notification.
Coordinates construction loan advance requests in conjunction with the third-party management company.
Provides help desk support services to Credit Union team members and members relative to residential mortgage loan products, ensuring timely, friendly, and accurate assistance.
Supports the loan servicing team as part of ongoing department planning and training efforts.
Performs other job-related duties as assigned.