SUMMARY Reviews fallout loans for HMDA compliance. Assist with HMDA data extract requirements. Tracking and posting ofMortgage Loan Insurance Premiums due. Tracking and posting of semi-annual property taxes due. Coordinate with trackinginsurance company for updates and CPI insurance as required. Assisting with Arizona annual escrow analysis requirements. Responsible for release of mortgage deeds as loans pay off. Assists as a backup and lead contact for Home Loan Post CloserShipper. Assist in training of servicing positions and creation of policy and procedures as needed. Any individual who meets thedefinition of a mortgage loan originator and is employed by a federal agency- regulated institution will need to be registered onNMLS.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
- Work with the export of data and completion of HMDA Quarterly review.
- Works directly with subservicer relationship (DMI) for all inquiries
- Coordinate all Construction Loan Servicing Draws and Escrow Holdback draws
- Report to Management monthly on outstanding Construction loans being serviced
- Work with resolving any post-closing issues or deficiencies.
- Prepares ACH drafts and loan payoffs
- Coordinates review and payment for monthly mortgage insurance billings
- Assists with calls for members including research and problem resolution.
- Assists the department with closing functions as needed.
- Reviews weekly reports for Hazard insurance premium payments including working with CPI vendor.
- Assist in training of servicing positions and creation of policy and procedures as needed.
- Reviews semiannual reports for Payment of Property taxes.
- Assist Servicing Manager with Arizona annual escrow analysis requirements.
- Develops working knowledge of department GL’s account balancing in accordance with establisheddepartment procedures.
- Assist with the preparation and maintenance of the CMC purchased loans report including the receipt ofIncoming Sales Release Premium.
- Assist closing with the verification of outgoing wires as needed
- Assist closing with daily completion of original deeds to various counties for recording.
- Assist with Escrow holdback loans and servicing disbursement payments.
- Work with CPI vendor on insurance requirements
- Work directly with Mortgage Servicing Manager on servicing projects and other duties as assigned.
- Assist and back-up for release of deeds of trust and trailing recorded docs to be received.
- Assist with submission of FNMA loans for purchase and data extract to Servicer.
- Assist as backup for filing title policies, deed of trusts, hazard insurance statements, recorded reconveyance and otherpaperwork in real estate files and forwards other paperwork to branches, members and outside agencies as appropriate.
- Act as a backup for the processing of payoffs and lien releases.
- Other duties as assigned by Home Loan Department Servicing Manager.
- Develop an understanding of Credit Union philosophy, organization, bylaws, and operational procedures and comply withthe requirements of the Bank Secrecy Act, AML, OFAC and all other applicable State and Federal Financial InstitutionRegulations.
Education and/or Experience
3-5 years’ financial industry experience; 3-5 years’ mortgage experience preferred Two-year college degree orcompletion of specialized course of study; Three years related experience. Thorough knowledge of Mortgage LoanServicing and lending practices. Knowledge of and Mortgage Closing/funding a plus. Knowledge of Arizona county recording requirements.
Understanding of Arizona escrow analysis requirements.