Special Loans Specialist

loanDepot • Irvine, CA

8d • $26 - $36

About The Position

Responsible for the daily functions of the Special Loans Department and supporting all aspects of Loan Servicing. Oversees the proper handling of ARM, DSI, SCRA, Assumptions, and Loan Modification system changes. Maintains updated servicing knowledge. This position ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

Requirements

• High School Degree/GED required and a minimum of three (3) + years’ equivalent work experience.
• Experience in the Mortgage industry preferred.
• Experience with Black Knight’s MSP servicing system a plus.

Responsibilities

• Setups of ARM, DSI, SCRA and modified loans, collects supporting documentation; assists in gathering documentation for management to prepare audit responses.
• Responsible for SCRA Deferment Military Modifications.
• Monitors the status of ARM loans. Accurately performs functions required to process ARM rate changes, index updates and related system maintenance. Uses critical thinking to work exception reports and clears exceptions by researching and correcting errors.
• Reviews ARM Change Notifications for accuracy prior to mailing. Ensures all written communication is provided to borrowers within regulatory timeframes.
• Performs all aspects of recast modifications and loan re-amortizations.
• Reviews newly boarded buydown loans to ensure buydown all terms are set up correctly and buydown funds are deposited to the loan.
• Sends monthly buydown letters on loans with expiring monthly subsidies.
• Reviews Note/DOT on Down Payment Assistance (DPA) Loans to determine if any special processing is needed. Sets up appropriate tasks and monitors loans for processing of note specific terms (Interest rates, PI payments, loan forgiveness, etc.)
• Updates escrow payee headers.
• Responsible for processing of system changes for assumptions.
• Researches requests for Note discrepancies on new loan boarding’s.
• Interacts daily with internal departments, vendors and investors, as needed.
• Ensures process and production results meet/exceed expectations related to investor guidelines, regulatory compliance, and state and federal law as applicable.
• Handles moderate issues related to special loans functions and may respond via email and/or written correspondence, documenting all information on servicing system at each point of communication while researching solutions.
• General duties, including mail handling and document scanning.
• Performs other duties and projects assigned.

Benefits

• Aggressive compensation package based on experience and skill set.
• Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive.
• Work with other passionate, purposeful, and customer-centric people.
• Extensive internal growth and professional development opportunities including tuition reimbursement.
• Comprehensive benefits package including Medical/Dental/Vision.
• Wellness program to support both mental and physical health.
• Generous paid time off for both exempt and non-exempt positions.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED