1st Source Bank · 3 months ago
Customer Service Mortgage Specialist, Corporate Office, South Bend, IN
South Bend, Indiana, United States
Full-time
Onsite
Entry, Mid Level
1+ years exp1st Source Bank is seeking a Customer Service Mortgage Specialist to enhance their mortgage servicing team. The role involves managing all aspects of mortgage servicing, including collections, loss mitigation, and foreclosures, while ensuring compliance with investor guidelines and bank policies.
BankingFinanceFinancial Services
Responsibilities
Responsible for all aspects of Mortgage Servicing including Collections, Loss Mitigation, Foreclosures and Reporting
Works with borrowers, investors, insurers, attorneys, and real estate agents to process loss preventative options and identify strategies including repackaging debt and rescheduling payments
Makes outgoing collection calls and takes inbound collection calls
Sends all applicable notices related to Mortgage Collections, Loss Mitigation and foreclosure
Responsible for all aspects of Loss Mitigation. Provides loss mitigation options with borrowers pursuing alternatives to foreclosures
Responsible for daily and month-end reporting of loss mitigation, foreclosure and delinquency activity for 1st Source Bank and investors
Handle Government Mortgage Insurance Reporting. Prepares and transmits required monthly reports to investors
Process foreclosures in accordance with investor guidelines within the required time frame from attorney referral to final loan loss
Works with designated attorneys regarding bankruptcy and foreclosure, establish and confirm sheriff sales, provide proper sheriff sale bidding instructions, and complete the required notices of completed sheriff sales to investors and insurers
Uses the foreclosure tracking system and loan prompts, maintains proper status tracking on all assigned foreclosure files
Maintains proper security and maintenance on all assigned foreclosure properties. Orders and follows up with property inspections and repairs as needed
Reviews all payments and cash advances of real estate taxes, hazard insurance and property maintenance on assigned foreclosure accounts
Order’s appraisals to determine valuations on properties referred for foreclosure and any other time required
Works with the Collections Manager to liquidate community investors properties and works with Workout on the liquidation of Portfolio loans
Works with accounting to handle processing of funds on properties sold at sheriff sale
Works with government agencies (Indiana Hardest Hit Fund and Michigan Step Forward)
Ensures bank policies, procedures, and regulations are adhered to for proper documentation
Prepares required monthly mortgage default reporting
Effectively works individually and in a team environment across the bank and with the entire Mortgage Servicing Group, knowledge sharing when applicable
Works with Management to update and document bank and investor guidelines, policies and procedures when applicable
Compliance of all investors (FHA, VA, FNMA, GNMA, Freddie Mac) guidelines and servicing requirements
Regular and predictable attendance is an essential requirement of the position
Responsible for completion of all applicable compliance related training
Understands all applicable laws and regulations that apply to the position and complies with the requirements
Qualification
Required
Works with borrowers, investors, insurers, attorneys, and real estate agents to process loss preventative options and identify strategies including repackaging debt and rescheduling payments
Makes outgoing collection calls and takes inbound collection calls
Sends all applicable notices related to Mortgage Collections, Loss Mitigation and foreclosure
Responsible for all aspects of Loss Mitigation. Provides loss mitigation options with borrowers pursuing alternatives to foreclosures
Responsible for daily and month-end reporting of loss mitigation, foreclosure and delinquency activity for 1st Source Bank and investors
Handle Government Mortgage Insurance Reporting. Prepares and transmits required monthly reports to investors
Process foreclosures in accordance with investor guidelines within the required time frame from attorney referral to final loan loss
Works with designated attorneys regarding bankruptcy and foreclosure, establish and confirm sheriff sales, provide proper sheriff sale bidding instructions, and complete the required notices of completed sheriff sales to investors and insurers
Uses the foreclosure tracking system and loan prompts, maintains proper status tracking on all assigned foreclosure files
Maintains proper security and maintenance on all assigned foreclosure properties. Orders and follows up with property inspections and repairs as needed
Reviews all payments and cash advances of real estate taxes, hazard insurance and property maintenance on assigned foreclosure accounts
Order's appraisals to determine valuations on properties referred for foreclosure and any other time required
Works with the Collections Manager to liquidate community investors properties and works with Workout on the liquidation of Portfolio loans
Works with accounting to handle processing of funds on properties sold at sheriff sale
Works with government agencies (Indiana Hardest Hit Fund and Michigan Step Forward)
Ensures bank policies, procedures, and regulations are adhered to for proper documentation
Prepares required monthly mortgage default reporting
Effectively works individually and in a team environment across the bank and with the entire Mortgage Servicing Group, knowledge sharing when applicable
Works with Management to update and document bank and investor guidelines, policies and procedures when applicable
Compliance of all investors (FHA, VA, FNMA, GNMA, Freddie Mac) guidelines and servicing requirements
Regular and predictable attendance is an essential requirement of the position
Responsible for completion of all applicable compliance related training
Understands all applicable laws and regulations that apply to the position and complies with the requirements
Preferred
One (1) - three (3) or more years of mortgage banking or banking experience preferred
One (1)- three (3) years mortgage servicing experience preferred
One (1) - three (3) years college preferred
Ability to use Ice Mortgage Technology (formerly Black Knight), Lender X, MERS, Newcourse Communications, USDA.gov, Ginniemae.gov, FHA Connection/FHA Catalyst, Property 360, Yardi P260, Webgly/VA, HUD.gov
Good verbal and written communication skills
Good PC skills--proficiency with Microsoft products Excel is essential
Good organizational and time management skills
Ability to multi-task in a fast-paced environment
Ability to travel upon request, as needed for customer meetings, projects, seminars, etc
Company
1st Source Bank
1st Source has offered clients a convenient and friendly way to bank for over 150 years.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Andrea Short
President
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