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Mortgage Servicing Cashier

Expired Job

Bear State Financial, Inc. Westfield , MA 01086

Posted 2 months ago

SUMMARY:? Under the supervision on the assigned manager, the Mortgage Servicing Cashier will apply funds received in the mortgage servicing department to customer loans, via ACH, wires, lockbox, and check. ?The incumbent will also disburse escrow checks for payment of customer taxes and insurance, and manage the ACH and bi-weekly drafting systems. The Mortgage Servicing Cashier processes a large volume of data on a daily basis that must be processed the same day received.?

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following.? Other duties may be assigned.?

  • Daily review all incoming cash items for customer loans (i.e. lockbox, On-line banking, Western Union, etc). Prepare appropriate information for transmission to bank.?
  • May operate sorters for lockbox processing, key edit corrections to misread items, and balance each run. All cash items must be posted the same day.?
  • Manually post ?1)payments cannot be performed within the lockbox facility 2) cash items for the Flow and investor Accounting departments. Post insurance and tax refunds to proper accounts.?
  • Create and post ACH payment batches for monthly and bi-weekly loan payments. Set up new ACH records on the system and maintenance any ACH changes.?
  • Review bi-weekly setup forms when received. Verify accounts and set up to begin drafting at the appropriate time. Create and submit bi-weekly ACH files on a weekly basis.?
  • Monitor bi-weekly accounts to insure sufficient drafts are received in time to post the monthly payment, and to remove loans and return funds when payoff occurs.?
  • Process payment reversals on return items. This includes checks, ACH payments, and electronic payments.?
  • Review payoff funds received from customers, closing agents, attorneys, etc and verify they are certified and sufficient to pay off the loan. Post payoff according to prepared statement and/or work with closing company and/or customer service to clear shortages or errors.?
  • Post final escrow disbursements and run final escrow analysis on paid in full loans.?
  • Print and distribute checks generated by various mortgage servicing departments. Securely store check stock.?
  • Input outgoing wires and ACH credits to customers. Ensure that the Outgoing Wire Request Forms has appropriate signature(s) approval and submit into system.?
  • Print and post incoming wires when notification is received. Ensure that the appropriate department associates are contacted for short sale and REO sale wires, and take appropriate action as outlined by investor guidelines.?
  • May update the servicing system with terms, due dates, and amounts when Loan Modifications are approved.?
  • May receive ORE Transfer and Charge Off requests from Special Asset Officers. Process to remove from active status and prepare and send general ledger entries to book to ORE.?
  • May receive new loan reports or claims funds. Post appropriately and accurately prepare general ledger entries.?
  • Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.

TEAM ACCOUNTABILITIES:?

  • Support and uphold the Arvest Mission Statement.

  • Uphold the Arvest Code of Ethics and ensure that confidential information is safeguarded.

  • Maintain a high level of cooperation and rapport with all associates in order to ensure accurate and efficient operations and service.

  • Formulate and communicate new ideas and suggestions that will improve profitability and efficiency for the company?s overall operation.

  • Promote professionalism at all times.

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Mortgage Servicing Structured Loan Specialist

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Posted 6 days ago

VIEW JOBS 11/8/2018 12:00:00 AM 2019-02-06T00:00 SUMMARY: Under the guidance of the Mortgage Servicing Structured Loan Supervisor, the incumbent will accept escalated customer calls and provide them with problem resolution. The Mortgage Servicing Structured Loan Specialist can be called upon to complete the following tasks: set up ARM (Adjustable Rate Mortgage) loans, generate and review reports for ARM loans, balloon loans, interest only loans, etc. in order to maintain data integrity, review and process requests for an assumption, partial release of mortgage/deed of trust, agreements to trust, successor in interest etc. When necessary make security instrument corrections, handle transfer of properties made without servicer approval, identify and monitor loans that fall under the Soldier and Sailors Relief Act, assist and provide fitting guidance to appropriate parties when a borrower is deceased. The incumbent will also assist with various special compliance related projects as requested by management. ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned. * Accept customer calls and provide problem resolution, which includes research and follow-up on outstanding problems in a timely manner. * Set up new ARM loans in the mortgage system as necessary, monitor and notify customers of adjustments associated with ARM loans, balloon loans, interest only and other structured loan types in a timely manner. * Generate reports and review for missing ARM data. As well as, monitor all investor accounting adjustable rate reports and resolve any discrepancies.Notify appropriate department and request data as needed to resolve discrepancies. * Monitor and update weekly adjustable rate mortgage index rates and other index rates as required. * Review requests, prepare and close assumptions with or without release of liability, partial release of mortgage/deed of trust, agreements to trust, and successor in interest. * Work with inquiring parties and provide appropriate guidance in regard to deceased borrower(s). * May complete any of the following tasks when necessary; reset/renew loans as required by the investor, make appropriate corrections to security instruments, provide customers with options on how to properly transfer a mortgage/deed of trust with servicer approval, and identify and monitor loans that are protected by the Soldiers and Sailors Relief Act. * Ensure structured loan tasks are processed within all federal, state, and investor guidelines to eliminate risk to the company. * Assist the department supervisor/manager, Senior Management, and other specified department management with special projects relating to product changes and compliance in the structured loan area. * Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity. TEAM ACCOUNTABILITIES: * Support and uphold the Arvest Mission Statement. * Uphold the Arvest Code of Ethics and ensure that confidential information is safeguarded. * Maintain a high level of cooperation and rapport with all associates in order to ensure accurate and efficient operations and service. * Formulate and communicate new ideas and suggestions that will improve profitability and efficiency for the company?s overall operation. * Promote professionalism at all times. Bear State Financial, Inc. Westfield MA

Mortgage Servicing Cashier

Expired Job

Bear State Financial, Inc.