Mortgage Servicing Representative

Mortgage Servicing Representative

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on‑the‑job training program, and tuition reimbursement—available to all full and part time employees. Part time positions start at a minimum of 30 hours per week.

We encourage you to become a part of VyStar Credit Union"s family of employees.

Responsible for performing the duties and services necessary to protect VyStar"s interest in mortgaged properties. This generally includes but is not limited to:

• Disbursing property taxes.
• Disbursing and maintaining adequate insurance coverage.
• Flood certification monitoring.
• Maintenance of unapplied mortgage payments.
• Responding to member inquiries.
• Maintaining accurate escrow records and advancing funds, when necessary, to preserve our interest in the mortgaged property.

Additional duties may include:

• Preparation of mortgage files for permanent retention.
• Processing and maintaining all closed and paid out mortgage loan files.
• Preparation of subordination of mortgage requests.

• Communicate effectively with members by phone or in person to assist in answering any questions regarding their mortgage account.
• Ensure timely processing of mortgage payments, payoff quotes, payoffs and account corrections.
• Cancellation of PMI insurance when requested by the member or when the LTV reaches 78% in accordance with the Homeowners Protection Act of 1998.
• Daily balancing of the branch to include clearing of any suspense or un‑posted items.
• Completion of verification of mortgage or amortization schedules as requested.
• Participate in escrow analysis training to help members understand the process and forms used by VyStar.
• Post shortage remittance payments and reanalyze account as necessary.
• Create/maintain necessary desktop procedures relating to servicing all types of mortgage loans.

• Verify mortgage loans are set up correctly in the servicing system.
• Verification of ARM elements, initial escrow deposit, first due date, loan and payment amounts, hazard insurance, flood, wind or PMI.
• Ensure real estate taxes or insurance premiums due at closing were paid and the property tax  accurately reported to the tax service.

• Timely maintenance of all insurance disbursements from escrow accounts.
• Monitoring weekly insurance due report, keying of premium‑due notices and research for missing bills.
• Match check disbursements to policy for remittance to the appropriate insurance company or agent.
• Review any return items for necessary correction.
• Maintain renewal policy in VyStar record retention system and core system with updated information on all escrow/non‑escrow insurance accounts.
• Monitor all cancellation/non‑renewal notices to obtain new coverage information from member or agent.
• Prepare force‑placed insurance as necessary to protect VyStar"s interest in the property.

• Process all mortgage payoff requests from members, title companies, financial institutions and attorneys.
• Fax or mail requested payoff quote and retain original within the VyStar record retention system.

• Weekly update of Treasury Index to the core servicing system.
• Monthly monitoring of ARM rate changes in the core servicing system, sending rate and payment change notices.

• Review and monitor loans in a Special Flood Hazard Area and ensure coverage.
• Track changes in flood zones via notification from flood vendors.

• Satisfaction of Mortgage:
  Preparation of Satisfaction of Mortgage document and paid‑in‑full letter on all paid mortgage accounts; sending executed satisfaction along with check for recording fee to the county of record; forwarding recorded satisfaction to member after receipt.
• Preparation of the paid‑in‑full file for permanent retention in the records department.
• Maintain Satisfaction Tracking (SATTRAC) on all paid‑out mortgages to ensure timely processing of satisfaction documents.
• Document Imaging:
  Prepare files for scanning to retain…