Education First FCU

Role
Perform real estate loan servicing, document preparation, processing, and quality control activities. Prepare and maintain real estate loan servicing documents and escrow accounts, ensure the accuracy and integrity of loan data, process mortgage assistance and loan modification requests, manage insurance claims related to mortgage loans, and perform HMDA reporting and compliance activities in accordance with applicable laws, regulations, investor requirements, and credit union policies.

Major Duties and Responsibilities

• Answer members’ questions regarding real estate lending and provide amortization schedules, loan payoffs, loan rates, and other servicing-related information. Explain the disbursement of loan proceeds and review payment schedules to ensure members understand their repayment obligations.
• Maintain accurate and current real estate escrow records. Ensure the credit union has documentation of paid property taxes and adequate homeowners and flood insurance coverage. Process appropriate real estate tax and insurance payments and conduct annual escrow analyses.
• Process and monitor insurance claims related to mortgage loans, ensuring timely submission, accurate documentation, appropriate tracking, and follow-up through resolution. Coordinate with members, insurance carriers, vendors, and internal departments as necessary to ensure claims are properly documented and resolved.
• Process mortgage assistance applications and evaluate required documentation for completeness and accuracy. Identify missing or incomplete information, communicate outstanding requirements, and ensure applications are processed timely in accordance with established procedures and applicable regulatory requirements.
• Coordinate and process loan modifications in accordance with established guidelines, policies, investor requirements, and applicable regulatory requirements. Ensure required documentation, approvals, disclosures, and system updates are completed accurately and timely.
• Process payments to title companies for title searches, legal work, appraisals, and other authorized services related to mortgage loan servicing, ensuring appropriate documentation, authorization, and accurate recording of expenses.
• Properly maintain loan information in the core system and complete all required follow-up documentation. Process payroll deductions, distributions, allotments, automated payments, payment corrections, payment coupons, late notices, and other loan servicing transactions. Ensure loan information and servicing transactions are accurately and timely processed in the core system.
• Maintain real estate loan files in accordance with established procedures. Monitor active real estate and interim construction loan files to ensure required documentation is obtained and maintained. Prepare correspondence for real estate loan officers, perform notary public duties, prepare satisfactions of mortgage for paid-off mortgage loans, and ensure paid real estate loan files are cleared and processed timely.
• Perform HMDA reporting and compliance responsibilities by collecting, reviewing, validating, and accurately reporting required mortgage loan data in accordance with the Home Mortgage Disclosure Act (HMDA) and Regulation C. Ensure HMDA data is entered accurately and timely into approved systems, identify and resolve discrepancies or data exceptions, and maintain the integrity and completeness of HMDA-related information in accordance with applicable reporting requirements and established procedures.
• Perform quality control activities related to real estate loan servicing, including reviewing loan information and documentation for accuracy, completeness, and compliance with established procedures and applicable regulatory requirements. Identify discrepancies and take appropriate action to ensure timely correction.
• Balance assigned loan servicing general ledger accounts and ensure transactions are accurately recorded and reconciled. Monitor construction loan disbursements, maintain appropriate documentation, and track outstanding requirements through completion.
• Assist with assignments, special projects, process improvements, and other duties as requested by management.
• Maintain compliance with all credit union policies and procedures and applicable federal and state laws and regulations, including, but not limited to, the Bank Secrecy Act, USA PATRIOT Act, Office of Foreign Assets Control (OFAC) requirements, HMDA, and Regulation C.