Loan Servicing Specialist - Mortgage Loan Servicing

Job Description:

Position Summary:

The Loan Servicing Specialist - Mortgage Loan Servicing is responsible for managing the post booking servicing of all mortgage and home equity loan accounts. This includes processing payments, managing escrow accounts, responding to borrower inquiries, performing loan modifications, and ensuring compliance with investor and regulatory requirements. The incumbent works closely with borrowers, insurers, investors, and internal departments to maintain loan performance, regulatory compliance, and investor reporting standards.

Primary Responsibilities & Duties

• As a Servicing Specialist, knowledge and ability to perform all Representative tasks for continued support in department day to day functionalities.
• Collaborate and support with foreclosure, bankruptcy, and loss mitigation department requirements as needed.
• Research and respond to mortgage error and information requests and escalated member complaints, ensuring timely investigation and resolution in compliance with applicable regulations and internal policies.
• Responsible for supporting management in research and resolution of all mortgage servicing related audit findings.
• Oversee all related administrative ordering tasks, including initiating appraisal requests, maintaining accurate records, and communicating with appraisers, clients, and internal stakeholders to support efficient and accurate valuation updates.
• Manage end-to-end vendor relationship, including invoice management, performance monitoring, and compliance with company policies and service level agreements (SLAs).
• Manage detailed loan records and documentation in accordance with company policies and federal/state regulations to support in audit related requests.
• Responsible for the detailed administration of escrow accounts and other additional holding accounts associated with mortgages, by completing required disbursements within expressed timelines, reviewing various quality control reports, following compliance guidelines for monitoring and maintaining these funds. Must be able to effectively review and communicate all requirements to our members as well as fellow Everwise employees.
• Ensure compliance with federal flood insurance regulations (e.g., NFIP requirements), including monitoring designated flood zones and issuing borrower notices as required.
• Track private mortgage insurance (PMI) requirements; initiate PMI cancellation or termination in compliance with investor and regulatory guidelines (e.g., Homeowners Protection Act).
• Coordinate with insurance carriers to obtain and verify insurance policies, resolve coverage issues, and manage forced-placed insurance when needed.
• Manage property tax information such as all parcel related changes or adjustments, taxing authority requirements, and managing delinquencies.
• For all loans sold to secondary market investors such as Fannie Mae and FHLBI, or participated with other financial institutions, responsible for following all servicing guidelines and to complete regular payment remittances, as well as, daily, interim, and end of month reporting. Completing reconciliation and balancing of all associated custodial accounts.
• Complete annual processes, including but not limited to; annual escrow analysis, 1098/1099 mortgage tax reporting, and Private Mortgage Insurance notices.
• Draft, review, and update departmental policies and procedure documents to ensure that current practices are documented and followed appropriately.
• Fulfil a mentor and leadership role within the department to aid in the development and training of the Representatives on the Mortgage Loan Servicing team.
• Assume additional responsibilities as necessary for the continued growth and advancement of Everwise.

Knowledge/ Skills

• Proven ability to manage advanced mortgage loan servicing transactions such as escrow analysis, tax statement preparation, vendor management, and investor reporting.
• Effective problem solving, negotiation, and decision-making abilities.
• Ability to handle conflict and resolve sensitive member issues diplomatically.
• Established ability to communicate and work cross functionally across servicing areas in a credit union environment.
• Capable of managing complex workloads and time management skills to meet deadlines
• Proficiency in Microsoft Office Suite (Word, Excel, Outlook).

Minimum Requirement

• High school diploma or GED required.
• Previous work experience in payment processing, customer service or related field required
• 2+ years of experience in mortgage loan servicing or a related loan servicing role required.
• Knowledge of mortgage loan documents, servicing practices, and regulatory requirements (e.g., RESPA, CFPB, Fannie Mae/Freddie Mac guidelines) required.

Everwise is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.