REMOTE- Specialist, Loan Servicing Special Loans

Carrington Mortgage • Phoenix, AZ

5d • Remote

About The Position

Carrington Mortgage Services is hiring a remote Specialist, Loan Servicing Special Loans to provide ongoing support for special loan products originated by the Mortgage Lending Division and loans acquired through acquisition. Products include loan modifications, adjustable-rate mortgages (ARMs), SCRA adjustments, and assumptions. The role performs its duties in accordance with company policies and procedures and applicable state and federal laws and regulations.

The specialist reviews and maintains loan documentation and servicing data, handles special-loan requests, researches and processes system changes, and supports other departments with loan-related inquiries. The role also helps validate newly acquired loans, identifies potential policy and procedure gaps, and makes recommendations to department management.

Requirements

• Familiarity with special loan product types and documentation.
• Intermediate skills in Microsoft Word and Excel.
• Ability to understand, remember, and communicate routine factual information.
• Ability to make decisions with significant impact on the immediate work unit and monitor effects outside that unit.
• Ability to organize and prioritize one's work schedule over the short term, defined as longer than one month.
• Ability to add, subtract, multiply, and divide, and to record, balance, and check results for accuracy.
• Ability to communicate orally with others accurately, audibly, and quickly.
• High school diploma or equivalent.
• One to two years of mortgage servicing experience.

Nice To Haves

• Intermediate industry-related experience preferred.
• Some college preferred.
• One year of experience with special loan product types or mortgage documentation preferred.

Responsibilities

• Review service-release loans to ensure proper documentation is in place before release.
• Review and maintain ARM contracts, indexes, and balloon plans when they are not available in the system.
• Audit pending payment changes to confirm system data and future payment-change notifications are accurate.
• Assist other CMS departments with special-loan inquiries, including modification-related issues for Home Retention/Loss Mitigation.
• Audit the loan servicing portfolio to identify loans that qualify for SCRA protection and send coverage acceptance or denial letters as appropriate.
• Research SCRA protection benefits for compliance and update the servicing system accordingly.
• Maintain daily index values and enter ARM indices into the servicing system to support accurate payment calculations and notifications.
• Follow up with the Mortgage Lending Division to determine whether assumption packages were approved and whether system updates are needed.
• Run scripts for finalized Loss Mitigation modifications, verify updates, and assist with requested corrections.
• Update servicing-system data fields for compliance and changes related to all types of special loans.
• Receive and process requests for partial releases, subordinations, easements, eminent domains, and oil and gas leases; obtain approvals and send decision letters.
• Receive and draft recast requests and agreements, obtain necessary approvals, and ensure documents are signed, notarized, and executed and that wires are received promptly.
• Research and make accurate, timely system changes in response to requests from investors, customers, or employees in other departments.
• Assist the acquisitions team with validations for newly acquired loans as needed.
• Review HAMP modifications for principal reduction, borrower incentives, and recast eligibility, and make system changes as needed.
• Monitor, review, and complete buydown processes for loans acquired by CMS.
• Identify potential policy and procedure updates or gaps and provide recommendations to department management.
• Perform other duties as assigned.

Benefits

• Comprehensive healthcare plans for employees and their families.
• Discretionary 401(k) match of 50% of the first 4% of pay contributed.
• Access to fitness, restaurant, retail, and other discounts through the employee portal.
• Customized training programs to support career advancement.
• Employee referral bonuses.
• Educational reimbursement.
• Carrington Charitable Foundation community contributions and fundraising support.

What This Job Offers

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