Special Loans Specialist (On-site)

Primary Function

The Special Loans and Servicing Operations Department administers the complicated details of non-fixed rate loan products such as adjustable-rate mortgages (ARMs), Commercial Loans, Home Equity Lines of Credit (HELOCs), Daily Simple Interest (DSI) loans, Balloon loans, and modifications, SCRA, among other responsibilities.

Principal Duties

• Research servicing histories and setup of ARM, DSI, and modified loans, collects supporting documentation, and assists in preparing audit responses.
• Analyzes exception reports and clears exceptions by researching and adjusting loans as necessary.
• Maintains the status of ARM loans; assists in resolving servicing transfer/loan setup; research ARM loan payment histories.
• Audits ARM Change Notifications prior to mailing.
• Performs document to data reviews to ensure proper servicing of various loan types and ensures adherence to investor and regulatory guidelines.
• Reviews and processes modification requests.
• Conducts special projects as assigned by Special Loans management.
• Calculates loan amortizations to correct posting errors by Shellpoint or previous servicers.
• Updates loans through adjustments and payment reapplications to reflect the proper accounting of all payments made per department requests.
• Supports management in achieving goals and improving the efficiency/productivity of the department.
• Completes miscellaneous tasks as necessary or required.
• Performs related duties as assigned by management.

Education And Experience Requirements

• High school diploma or equivalent, required.
• Bachelor’s degree, preferred.
• 0-2 years’ experience in the mortgage industry.

Knowledge, Skill, and Ability Requirements

• Proficient working knowledge of Microsoft Outlook, Word, and Excel.
• Strong knowledge of mortgage documents, security instruments, and modification documents.
• Strong verbal and written communication skills.