Mortgage Secondary Delivery Specialist Position Available In Nash, North Carolina

Mortgage Secondary Delivery Specialist 3.6 3.6 out of 5 stars 100 North Church Street, Rocky Mount, NC 27804

Position:

Mortgage Secondary Delivery Specialist Reports To:

Mortgage Servicing Manager Reports to this position:

None Role Summary:

Protect the Bank’s mortgage revenue stream by timely packaging and delivering loan pools to various investors and managing the trailing documentation requirements of each investor. Interface with all departments within the Mortgage Division to ensure that all commitments are met on time and delivered in accordance with their embedded obligations. Specific Job Functions (Duties/Responsibilities) : Obtain commitments from Secondary Marketing and retrieve appropriate investor software for loan sales. Prepare and package loans for sale to the appropriate investor, and update appropriate information in the Encompass System related to those loans within 48 hours. Prepare any required documents such as Notes and forms, assignments, allonges, etc. and submit loan packages and accompanying documentation to the appropriate investors. Deliver required documents (Note/Allonge) to investor same day as the loan is delivered electronically. Maintain communications with investors on the progress of funding, deliver any additional documentation required by the investors, and keep all interested parties informed about any issues related to funding. Obtain funding advices from investors and forward same to Secondary Marketing and Mortgage Servicing. Once funding has taken place, forward complete loan files to new servicer, if applicable. Notify customers, insurance carriers, and other interested parties that the servicing of their loans have been sold in accordance with RESPA requirements, if applicable. Interact with new servicer and provide any requested documentation within 24 hours of request, if applicable. Research and submit loan files requested by investors or MI companies for their quality control. Set up all mortgage loans that close, whether sold or retained, and all consumer loans that require flood insurance, in the Horizon system and file completed loan files in the vault within 24 hours of receipt from closing. Create and maintain a document file for the vault on all servicing retained loans. Document file should contain the Note (endorsed if applicable), Original Recorded Deed of Trust, and assignment if applicable. Register all newly closed loans with the MERS system, and report monthly MERS activity to corporate headquarters. Prepare and pay VA Funding and USDA Guaranty Fees timely, and retrieve Loan Guaranty documents.

JOB REQUIREMENTS

Knowledge/Skills/Abilities Required :

Thorough knowledge of residential mortgage documents and legal documentation requirements at a level necessary to maintain compliance with all applicable laws and regulations. Thorough knowledge of delivery requirements of both private and government investors in residential mortgage loans. Thorough knowledge of inner workings of Fannie Mae and Freddie Mac. Working knowledge of investor underwriting guidelines and mortgage lending vernacular to facilitate communications with underwriters and investors. Excellent organization and time management skills, and must be able to work under pressure from deadlines. Ability to work with limited supervision. Ability to effectively communicate, both orally and in writing, and maintain good customer and staff relations.

Education/Experience Requirements :

Bachelor’s degree in Accounting, Finance or related field, or equivalent experience. A minimum of three years of experience in the residential mortgage industry. Employment experience in an entity that invests in residential mortgage loans preferred.