Planet Home Lending

Loan Operations Specialist – Modifications, ARMS, Billing Statements

US-CT-Meriden
2 weeks ago
# of Openings
1
Category
Operations

Overview

The Loan Operations Specialist – Modifications, Adjustable Rate Mortgages, and Billing Statements position will monitor and generate all written communication timely and accurately for all special loan portfolios consisting of Balloon, Adjustable Rate (ARM), Loan Modification process and Service Members Civil Relief Act (SCRA) loans. This position will provide operational and reporting support for Investors and Government agency portfolios, including maintaining and updating critical loan data within the servicing system and reviewing billing correspondence to ensure accuracy.

Primary Responsibilities

 

  • Updates the BKFA system with all new indices used in the calculation of the ARM portfolio. Ensures appropriate correspondence is sent to borrowers in compliance with applicable law and agency guidelines.
  • Performs system maintenance and ensures proper documentation for all adjustments made for critical loan data including changes for loan modifications, due date changes and/or deferments. Ensures appropriate correspondence is sent to borrowers in compliance with applicable law and agency guidelines.
  • Sets up and maintains the ACH data for all loans including providing timely borrower notification. Generates drafting files to the banks. Reconciles amounts sent with amounts received from the banks and resolves all errors.
  • Reviews and maintains billing cycle sweeps to ensure monthly periodic statements are prepared and delivered in accordance with CFPB regulations. Determines proper billing correspondence and reviews print vendor accuracy on billing statements.
  • Completes all steps necessary including updates to the BKFS system to comply with the servicing requirements for loan information on Balloon Loans, Pay Option ARMS, and SCRA loans as needed. Ensures appropriate correspondence is sent to borrowers in compliance with applicable law and agency guidelines.

Position Requirements

  • High school diploma or equivalent required.
  • Associated Degree Preferred.
  • Loan servicing experience preferred
  • Full understanding of Balloon, Adjustable Rate Mortgage (ARM), and SCRA loan documents preferred
  • Understanding of FHA, VA, USDA Government loan products preferred.
  • Effective verbal and written communication skills.
  • Experience using Microsoft Office.
  • Intermediate Microsoft Excel skills.
  • Displays strong organizational skills and manages time effectively.
  • Ability to multi-task and deal with competing priorities.
  • Ability to meet deadlines.
  • Ability to adapt to a changing environment.
  • Ability to understand and utilize investor guidelines.

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