Mortgage Assumption Specialist I

Job description

Mortgage Assumption Specialist I

Location: Pensacola, FL (hybrid) Pay Rate: Open to Both C2C and W2 options Position Type: Contract

Description To examine, evaluate, and process tasks associated with the assumption/release of liability requests per applicable federal/state laws, investor guidelines, and company policies and procedures. Assume responsibility as the point person and coordinate the processing from origination through disposition. Ensure timely review and submission of assumption/release of liability requests to relevant Real Estate Lending (REL) areas to minimize company mortgage portfolio risk. Provide members with detailed information about assumption/release of liability requests & related servicing questions about their mortgage/equity loan. Manage process flow to ensure Service Level Agreements (SLAs) are met and quality of work is achieved. Work under moderate supervision. Perform basic/routine tasks with a narrow scope and moderate analysis.

Responsibilities

Research, respond, and track moderately complex inquiries about the assumption/release of liability requests

Identify risk exposures to control and mitigate financial loss from mortgage and equity collateral transactions by performing internal/external inquiries and preliminary review of documents

Obtain, review, and verify that mortgage applications have required loan documentation, such as title insurance, loan applications, credit reports, and income and asset declarations, are accurate and promptly provided to underwriters for loan approval and adherence to company and investor guidelines

Communicate extensively with members, external settlement attorneys, surveyors, title companies, survivors of the deceased, and attorneys regarding required documentation/expectations as the loan progresses through multiple loan origination systems

Ensure validation of Successor in Interest as regulated by the Consumer Financial Protection Bureau (CFPB) by reviewing documents and notes with the servicing system of record

Coordinate settlement dates with members, attorneys, and realtors

Reconcile changes, revisions, and corrections with closing agents and settlement attorneys to ensure accurate and efficient processing of mortgage loans

Analyze, research, and resolve discrepancies, problems & issues related to member accounts/loans; may require additional interaction with members, other staff, and outside contacts for completion

Perform other duties as assigned

Qualifications

Working knowledge of CFPB servicing rules, NCUA requirements, and company policies and procedures

Working knowledge of current regulations and investor guidelines to offer options to Successors, such as assuming the loan or referring to Mortgage Default

Ability to display the highest degree of tact, patience, sensitivity, and confidentiality

Experience in managing multiple priorities independently and/or in a team environment to achieve goals

Incumbent will be required, before the assumption of employment duties, to register with the Nationwide Mortgage Licensing System and Registry, includes fingerprinting and background checks

Essential skill in comprehending, analyzing, applying, and communicating complex written legal documents

Basic skills in following, interpreting, and applying relevant data/instructions to guidelines, procedures, practices, and regulations

Basic skills in exercising initiative and good judgment to make sound decisions

Effective organizational, planning, and time management skills

Basic research, analytical, and problem-solving skills

Effective word processing and spreadsheet software skills

Basic verbal and written communication skills

Desired - Associate degree in Business Administration, Finance, or related field

Desired - Working knowledge of credit union operations/processes

Desired - Working knowledge of NCUA regulations that govern the activities, products, and services of the business unit

Desired - Working knowledge of products, services, processes, requirements, and systems related to the business unit

Worksite address

pensacola, FL, 32573, US

Who can apply

Review the original listing for work authorization, qualifications and employer requirements.