Mortgage Servicing Representative

VyStar Credit Union•Jacksonville, FL

About The Position

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week. We encourage you to become a part of VyStar Credit Union's family of employees. Mortgage Servicing Representative ACCOUNTABILITY STATEMENT The incumbent is Responsible for performing the duties and services necessary to protect VyStar’s interest in mortgaged properties. This generally includes but is not limited to: disbursing property taxes, disbursing and maintaining adequate insurance coverage, flood certification monitoring, maintenance of unapplied mortgage payments, responding to member inquiries, maintaining accurate escrow records and advancing funds, when necessary, to preserve our interest in the mortgaged property. Additional duties may include preparation of mortgage files for permanent retention; processing and maintaining all closed and paid out mortgage loan files, preparation of subordination of mortgage requests. ESSENTIAL FUNCTIONS Member Service Communicate effectively with the members by phone or in person to assist in answering any questions regarding their mortgage account. Ensure timely processing of mortgage payments, payoff quotes, payoffs and account corrections. Cancellation of PMI insurance when requested by the member or when the LTV reaches 78% in accordance with the Homeowners Protection Act of 1998. Daily balancing of the branch to include clearing of any suspense or un-posted items. Completion of verification of mortgage or amortization schedules as requested. Participate in escrow analysis training to help members understand the process and forms used by VyStar. Post shortage remittance payments and reanalyze account as necessary. Create/maintain necessary desk top procedures relating to servicing all types of mortgages loans. Quality Control Verify mortgage loans are set up correctly in the servicing system. This includes but is not limited to: verification of ARM elements, initial escrow deposit, first due date, loan and payment amounts, hazard insurance, flood, wind or PMI. Ensure Real Estate taxes or insurance premiums due at closing were paid and ensure the property tax ID is accurately reported to the tax service. Insurance Tracking and Payment from Escrow Timely maintenance of all insurance disbursements from escrow accounts. This includes monitoring weekly insurance due report, keying of premium due notices and research for missing bills. Match check disbursements to policy for remittance to the appropriate insurance company or agent. Review any return items for necessary correction. Maintain renewal policy in VyStar record retention system and core system with updated information on all escrow/non escrow insurance accounts to include: coverage amount, expiration date, deductibles and loss payee information. Monitor all cancellation/non renewal notices to obtain new coverage information from member or agent. Prepare force placed insurance as necessary to protect VyStar’s interest in the property. Payoff Request Responsible for processing all mortgage payoff requests from members, title companies, financial institutions and attorneys. Fax or mail requested payoff quote and retain original within the VyStar record retention system. Adjustable Rate Mortgage (ARM) Monitoring Weekly update of Treasury Index to the core servicing system. Monthly monitoring of ARM rate changes in the core servicing system, sending of rate and payment change notices. Life of Loan Flood Tracking and Cancellation Review and Monitor loans in a Special Flood Hazard Area and ensure coverage, in addition to tracking changes in Flood Zones via receiving notification from the Flood Vendors. Good Working Knowledge of the following: Satisfaction of Mortgage Preparation of Satisfaction of Mortgage document and paid in full letter on all paid mortgage accounts. Send executed satisfaction along with check for recording fee to the county of record. Recorded Satisfaction is forwarded to the member after receipt from the county of record. Preparation of the paid in full file for permanent retention in the records department. Maintain Satisfaction Tracking (SAT TRAC) on all paid out mortgages to ensure timely process of satisfaction documents. Document Imaging Prepare files for scanning to retain mortgage loan files in an electronic format within the credit union record retention system. Work collaboratively with the Mortgage Servicing Supervisor, Mortgage Servicing Manger, and Vice President Mortgage Lending to develop streamlined processes via the record retention imaging system to improve department operating efficiencies related to servicing functions and data retention. Subordination of Mortgage Responsible for preparation and imaging of subordination of mortgage documents on all requests received. Maintain Subordination of Mortgage tracking on all requests received. Cross-sells other credit union services. Identify and make recommendations to Sr. Mortgage Loan Servicing Representative, Mortgage Servicing Manager and Vice President Mortgage Lending regarding process improvements, quality service and increased efficiencies within the servicing unit. All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work. To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates. The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance. Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job: Focus - Focus your full attention by carefully listening to and observing client or member. Connect - Consistently be friendly and approachable. Demonstrate your care. Understand - Listen empathetically and ask questions (70%/30% rule). Counsel - Recommend solutions based on your member’s needs and objectives. Advance - Ensure that member’s expectations were exceeded. Verify necessary follow-up actions.

Requirements

Minimum of two years experience in a direct member contact area with a financial institution with specialization in mortgage lending, preferably mortgage loan servicing.
Familiarity of mortgage documents is essential to completion of document scanning and retrieval tasks.
Applicant must have positive, well-developed communication skills, both written and oral, be detail oriented, have good organizational and active listening skills, the ability to work in a fast-paced environment, and proven ability to work with others.
Must have professional conduct and appearance and be self-motivated.
Must work under the philosophy of “people helping people” and be able to communicate with members on all levels.
Knowledge of all Microsoft Office applications and credit union software and/or core operating systems pertinent to completing various tasks and responsibilities of the position.

Responsibilities

Communicate effectively with the members by phone or in person to assist in answering any questions regarding their mortgage account.
Ensure timely processing of mortgage payments, payoff quotes, payoffs and account corrections.
Cancellation of PMI insurance when requested by the member or when the LTV reaches 78% in accordance with the Homeowners Protection Act of 1998.
Daily balancing of the branch to include clearing of any suspense or un-posted items.
Completion of verification of mortgage or amortization schedules as requested.
Participate in escrow analysis training to help members understand the process and forms used by VyStar.
Post shortage remittance payments and reanalyze account as necessary.
Create/maintain necessary desk top procedures relating to servicing all types of mortgages loans.
Verify mortgage loans are set up correctly in the servicing system.
Timely maintenance of all insurance disbursements from escrow accounts.
Match check disbursements to policy for remittance to the appropriate insurance company or agent.
Maintain renewal policy in VyStar record retention system and core system with updated information on all escrow/non escrow insurance accounts.
Monitor all cancellation/non renewal notices to obtain new coverage information from member or agent.
Prepare force placed insurance as necessary to protect VyStar’s interest in the property.
Responsible for processing all mortgage payoff requests from members, title companies, financial institutions and attorneys.
Weekly update of Treasury Index to the core servicing system.
Monthly monitoring of ARM rate changes in the core servicing system, sending of rate and payment change notices.
Review and Monitor loans in a Special Flood Hazard Area and ensure coverage, in addition to tracking changes in Flood Zones via receiving notification from the Flood Vendors.
Preparation of Satisfaction of Mortgage document and paid in full letter on all paid mortgage accounts.
Maintain Satisfaction Tracking (SAT TRAC) on all paid out mortgages to ensure timely process of satisfaction documents.
Prepare files for scanning to retain mortgage loan files in an electronic format within the credit union record retention system.
Responsible for preparation and imaging of subordination of mortgage documents on all requests received.
Maintain Subordination of Mortgage tracking on all requests received.
Cross-sells other credit union services.
Identify and make recommendations to Sr. Mortgage Loan Servicing Representative, Mortgage Servicing Manager and Vice President Mortgage Lending regarding process improvements, quality service and increased efficiencies within the servicing unit.
All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work.