Bilingual Mortgage Loan Servicing Rep.
Pentagon Federal Credit Union serves over 1 million members in the Air Force, Army, Coast Guard, Department of Homeland Security, Department of Defense, defense-related companies, and the Veterans of Foreign Wars. We were federally chartered in 1935 and serve our members worldwide.
Pentagon Federal Credit Union is one of the strongest and safest financial institutions with more than $17 Billion in assets. We offer mortgages, credit cards, automobile loans, personal loans, checking, money market savings, and other accounts.
The Bilingual Mortgage Loan Servicing Representative performs all functions related to the servicing of mortgage loans with Spanish and English speaking members.
Maintains contact with members and their representatives throughout the servicing of the loan, assisting them with questions and complaints concerning all aspects of servicing functions, notifying them of information required related to the servicing of the loan, and providing information related to other services.
Enters required information on loans closed into the automated system and files documentation in the members file. Reviews automated system information to ensure accuracy of data entered.
Interprets taxing jurisdiction requirements and processes payments from escrow accounts to ensure timely and accurate remittance of taxes. Reviews hazard, flood and private mortgage insurance coverage to determine its acceptability within investor and guarantor guidelines and federal law and processes payments to ensure continued coverage. Tracks unpaid tax and insurance items on non-escrowed loans, and lapsed insurance coverage on all loans in order to follow up with the member, tax office or insurance carrier to ensure the account is brought into compliance. Maintains contact with tax service providers, taxing authorities, hazard and flood insurance carriers, private mortgage insurance companies and other third parties related to processing escrow items.
Compiles and interprets escrow account activity data and completes the escrow analysis report for the member. Provides in-depth explanation of escrow analysis to members.
Compiles and analyzes data and prepares investor accounting reports to insure compliance with secondary market investor guidelines including those of Fannie Mae, FHLMC, GNMA and private investors. Maintains contact with secondary market investors in relation to servicing loans in their portfolios.
Performs all activities related to the payoff of a mortgage loan, including calculating and providing payoff information to members and third parties, verifying the accuracy of funds received and processing payoff checks, completing satisfactions on paid in full loans, processing loan assumptions and requests for partial releases of property.
Completes all required investor accounting functions including payment processing, account adjustments and custodial account maintenance and reconciliation.
Calculates and processes interest rate and payment changes on adjustable rate loans and prepares the proper notification to the members.
Maintains a working knowledge of federal, state, county or city, investor, insurer and internal laws, policies and procedures with regard to mortgage and equity loan servicing. This includes tax jurisdiction due dates in all states, counties and cities where PenFed has real estate loans; and Fannie Mae, FHLMC, VA, FHA and MI company selling and servicing requirements.
Assists with maintaining PenFeds compliance with all applicable federal, state and local laws, regulations and ordinances by abiding by PenFed compliance program and all policies, procedures, rules and regulations.
Associates degree or combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.
Two years of related work experience in mortgage loan servicing or in work that provided a working knowledge of first mortgage loan products.
Strong oral and written communication skills required.
Good analytical and math skills required.
Experience in utilizing an automated system required.
Health, dental, and vision coverage
Flexible spending accounts (FSA) for qualified medical and dependent care out-of-pocket expenses
Tuition assistance - Company paid short- and long-term disability coverage
Company paid life insurance
Fitness room and cafeteria
Business casual attire
Immediate enrollment in 401(k) plan with employer match after 6 months