Interim Loan Servicing Administrator

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Reston, VA, US

3 days ago Requisition

Salary Range: $50,000.00 To $65,000.00 Annually

Intercoastal Mortgage, LLC is one of the largest independent residential mortgage lenders in the Mid-Atlantic. Our long tradition of success was built on Respect, Trust, Commitment, Caring, and Teamwork. We provide an open, nurturing, and educational environment for customers and employees. Everyone has a voice in improving our processes, and we give team members the technology, training, and support to grow.

The Interim Loan Servicing Administrator is responsible for servicing mortgage loans during the interim period between loan closing/funding and the transfer of servicing to the applicable investor or permanent servicer. This position ensures borrower payments are accurately processed, escrow activity is properly administered, loan records remain accurate, and servicing responsibilities are completed timely through the effective date of servicing transfer.

The Interim Loan Servicing Administrator works closely with Post-Closing, Secondary Marketing, Accounting, and other internal departments to ensure a smooth and accurate transfer of servicing and to address borrower or loan-level issues that arise during the interim servicing period.

• Service newly closed mortgage loans from funding through the effective transfer of servicing to the applicable investor or permanent servicer.
• Monitor the interim servicing pipeline and ensure loans are appropriately established, maintained, and transferred within required time frames.
• Maintain accurate loan and borrower information within the servicing system.
• Review loan information for accuracy and resolve servicing discrepancies prior to transfer.
• Coordinate with internal departments to address issues that may delay or impact the transfer of servicing.

• Receive, process, and accurately apply borrower payments received during the interim servicing period, including principal, interest, taxes, insurance, and other applicable amounts.
• Research and resolve payment discrepancies, unapplied funds, returned payments, and other payment-related issues.
• Maintain and administer escrow funds during the interim servicing period.
• Process tax, insurance, mortgage insurance, or other required escrow disbursements when due prior to the transfer of servicing.
• Ensure appropriate accounting and reconciliation of borrower and escrow funds.
• Coordinate the transfer of servicing to investors and permanent servicers.
• Ensure required loan, payment, escrow, and servicing information is accurate and transmitted to the receiving servicer.
• Prepare and/or coordinate required servicing transfer notifications and related borrower communications.
• Reconcile loan balances, escrow balances, payments, and other servicing activity at the time of transfer.
• Research and resolve discrepancies identified during or following the servicing transfer process.
• Respond to requests from investors or receiving servicers regarding interim servicing activity.

• Serve as a point of contact for borrowers during the interim servicing period.
• Respond to borrower questions regarding payment amounts, payment application, escrow accounts, loan balances, servicing transfer, and other servicing-related matters.
• Research and resolve borrower inquiries in a timely and professional manner.
• Provide borrowers with appropriate information regarding the transfer of their loan to the new servicer.
• Maintain accurate documentation of borrower communications and servicing activity.

• Reconcile interim servicing accounts and loan-level activity.
• Coordinate with Accounting to ensure payments, escrow funds, fees, and other servicing transactions are accurately recorded.
• Prepare and maintain reports related to the interim servicing portfolio, payment activity, escrow balances, and servicing transfers.
• Identify and resolve outstanding items prior to or following servicing transfer.

• Perform interim servicing activities in accordance with applicable federal and state mortgage servicing requirements, investor guidelines, and Company policies and procedures.
• Ensure required borrower notices and servicing transfer communications are completed…