Mortgage Loan Servicer

Central Bank•Sioux Falls, SD

17h

About The Position

The Mortgage Loan Servicer manages post-origination processes and servicing activities for 1-to-4 family mortgage loans and servicing-retained secondary market loans. The role involves regular communication with borrowers, lenders, and internal team members to ensure mortgage loans are serviced accurately and on time. The position handles borrower inquiries, loan setup and payment processing, payoff requests and funds, escrow administration, investor fund transfers, and system validations. It also manages collateral and insurance matters, maintains accurate servicing records, and performs ongoing account maintenance and quality control. The Mortgage Loan Servicer must comply with applicable regulations and fair lending practices and protect borrower information.

Requirements

Associate’s degree or equivalent work experience.
At least two years of experience in similar job duties.

Nice To Haves

Prior experience with Precision and Encompass.

Responsibilities

Respond promptly to borrower and team inquiries by phone, email, and workflow management systems.
Answer questions about loan payments, escrow accounts, and other servicing matters accurately and professionally.
Enter data and set up newly originated loans in servicing systems.
Process loan payments, payoff quote requests, and payoff funds.
Review daily payment reports for accuracy and compliance with investor requirements.
Manage escrow accounts, including tax and insurance payments, disbursements, and annual escrow analyses.
Complete daily transfers and validate investor funds as assigned.
Review, verify, and track insurance policies, and upload documentation to servicing systems.
Monitor and pay insurance premiums and follow up with third parties to obtain required documentation.
Ensure tax and insurance payments are current for escrowed and non-escrowed loans.
Track insurance policy cancellations and non-renewals and initiate force-placed insurance when necessary.
Maintain detailed and accurate records of loan transactions, payments, and communications.
Submit and track mortgage lien releases.
Review and correct daily loan payments.
Process automatic payment setups and HELOC fund advances.
Track temporary buydown payments and apply late-fee waivers as needed.
Perform checkbacks and other quality-control processes.
Comply with applicable regulations, including RESPA and FCRA, and adhere to fair lending practices and ethical servicing standards.
Handle borrower information confidentially and professionally.
Perform other related duties and responsibilities as assigned by management.