Hybrid Mortgage Escrow Specialist

Job Overview

Pen Fed is hiring a (Hybrid) Mortgage Servicing Escrow Administrator at our San Antonio, Texas or Irving, Texas service center. The primary purpose of this job is to administer escrow account functions for Pen Fed First Mortgage and Equity loan products. Responsibilities of this position include the performance of all functions related to timely and accurate servicing of all aspects of members escrow account, including contact with members if and when required to fulfill escrow functions.

Responsible for transactional processing, compliance adherence, and workflow completion for all aspects of escrow administration including but not limited to initial and periodic escrow analysis, tax line creation and payment fulfillment and insurance line creation and payment fulfillment.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

• Ensure that each month's Mass Analysis cycle is completed in an accurate and timely manner.

• Review escrow analysis results that fall outside of predetermined criteria. Perform all loan-level corrections identified prior to finalizing each month's Mass Analysis cycle. Document the servicing system with the reason(s) why a loan's analysis results are accurate, but outside the predetermined criteria where applicable.

• Professionally discuss large escrow shortages revealed during a loan's first annual escrow analysis with affected members. Discuss the available options with members about an upcoming increase in the monthly escrow payment.

• Ensure that accurate and compliant initial escrow analyses are generated for all loans within regulatory guidelines of a loan transfer to Pen Fed. Advise manager/supervisor of common findings and errors in order to improve processes.

• Accurately generate individual escrow analyses when requested by members under approved circumstances as needed.

• Accurately perform all projected escrow analyses for pending loss mitigation loan modifications and finalize each projected escrow analysis upon completion of each modification.

• Perform all required bankruptcy POC escrow analyses.

• Provide assistance to with unique or complex escrow analysis inquiries. Respond to all assigned task and inquiry requests in an accurate and timely manner. Research and resolve all escrow analysis issues to completion.

• Develop and maintain knowledge of the MSP mortgage system of record and its use in performing various escrow functions as well as related functional areas such as cash, loss mitigation, etc.

• Serve as a subject matter expert in all escrow related regulations and servicing system functionality and reports.

• Collaborate with appropriate vendors who support all Pen Fed escrow functions of tax, insurance, and hazard claim losses.

• Complete projects and audits as assigned by manager/supervisor.

• Maintain a working knowledge of federal, state, county or city, investor, insurer and internal laws, policies and procedures with regard to mortgage loan servicing. This includes tax jurisdiction due dates in all states, counties and cities where Pen Fed has real estate loans; and Fannie Mae, FHLMC, VA, FHA and MI company servicing requirements.

• Maintain confidentiality of member's information.

• Maintain awareness and report any instances of concern outside the Pen Fed risk culture and established policies and procedures.

• Thoroughly understand all Pen Fed loan products and programs, loan transaction history, including payment activity, escrow disbursements, rate and P&I payment changes, and payment reversals.

• Possess a good working knowledge of servicing guidelines and regulatory requirements established under RESPA and implemented through CFPB and Pen Fed.

• Meet established standards and guidelines with regard to compliance, job knowledge, quality attendance and punctuality, efficiency, initiative, member service and overall performance.

This role is responsible for ensuring business continuity.

Equivalent combination of education and experience is considered.

• Associates degree or combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform essential job functions.
• Three (3) to four (4) years' of mortgage servicing experience.
• Strong oral and written communication skills required.
• Ability to work effectively with internal partners such as loss mitigation, auditing, and compliance.
• Ability to work under pressure in a fast-paced, priority work environment.
• Possess knowledge of Escrow relating to taxes and insurance, ARM, Fixed, and Balloon rate Notes.
• Possess knowledge and recognition of loan related documents such as Note, Mortgage/Deed of Trust, Riders PMI/VA and Flood Certificates, and HUD-I.
• Ability to work effectively in a team-oriented environment as well as independently.
• Analytical and math skills required.
• Present a positive and professional…