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The Servion Group · 3 days ago

Payoff Specialist (Mortgage Servicing)

New Brighton,MN,US

Full-time

Onsite

Entry, Mid Level

$20.60/hr - $23.98/hr

1+ years exp

The Servion Group is focused on mortgage servicing and is seeking a Payoff Specialist to handle the payoff process and provide member service to borrowers. This role involves issuing payoff statements, processing checks, and ensuring compliance with county requirements among other responsibilities.

AdviceFinanceFinancial Services

Responsibilities

Issue payoff statements per requestors specific instructions

Process payoff checks in a timely manner

Draft satisfactions/release per county requirements and timeframes

Disburse refund of any overage received with the payoff as well as escrow funds

Assemble final document package to be archived

Send notification of payoff letters to homeowner’s insurance company and tax authority

Request note through Document Custodian or pull from Portfolio files. If no note found draft the Affidavit of Lost Note within 30-45 days

Send paid in full documentation to the customer

Monitor payoff call queue

Determine payoff calculations with or without escrows and fee's. Then produce within 24 hours including attorney fees if applicable: Use FHA, FNMA, Conventional

Adjust member mailing address for refunding excess escrow or interest within 10 days

Must be able to perform all responsibilities and functions listed for Level I with a high degree of efficiency and independence

Responsible for the training of new and current Payoff Specialists

Research any missing information through various lender representatives

Record drafted and signed release document to the proper county

Determine if there is a need to deactivate loan with MERS, fill out 11708 for FHA

Collect and pay PMI or MIP if needed. Send cancellation letters to MI companies

Qualification

Mortgage servicing knowledgeFHAFNMA familiarityAllRegs familiarityMortgage loan software proficiencyTraining skillsDocument preparationCommunication skillsProblem-solving abilityAttention to detail

Required

Thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirements

Familiarity with AllRegs

Ability to work the days and hours necessary to perform all assigned responsibilities and tasks

Must be available (especially during business hours or shifts) to communicate with subordinates, supervisors, customers, vendors, and any other person or organization with whom interaction is required to accomplish work and employer goals

Reporting, letter preparation, group presentation and other related communications skills

Proficiency in using and learning mortgage loan software

Ability to define problems, collect data, establish facts and draw valid conclusions

Ability to attend meetings or perform other assignments at locations outside the office, if necessary