Mortgage Servicing Administrator (Finance)

SUMMARY:
Provide support to the mortgage department with administrative duties include processing closed mortgage loans and finalizing necessary documentation, assisting customers with servicing-related questions; submitting files to third-party vendor for quality control per quality control guidelines. Learn secondary market responsibilities including managing the pending pipeline, mortgage commitments to the secondary market, and maximizing profits for Somerset Trust Company;


ESSENTIAL DUTIES AND RESPONSIBILITIES:
· Perform post-closing duties. This includes: Responding to Fannie Mae review requests; modifications due to a variety of reasons including recast, transfer of ownership with and without assumption, construction disbursements, homestyle renovation disbursements; answering customer questions regarding loan payments, posting of payments; submitting files to third-party vendor for quality control review, providing reports to management as per Mortgage Quality Control Plan. Review requests for partial releases of collateral. Position requires that the person have extensive knowledge of the core operating system to perform loan maintenance as required in performance of duties; teller experience not required but helpful.
· Research of Fannie Mae Selling and Servicing guides to assist with servicing Fannie Mae loans.
· Capable of working independently or collaborate with others.
· Review loan pricing to determine interest rates based on management's strategic goals. Maintain current rate sheets as well as historical rate sheets.
· Review loan pricing registration and confirm rate locks daily upon submission to mortgage department daily.
· Review pipeline on a daily basis to ensure the loans close and disburse within their lock terms.
· Manage mortgage loan commitments to be sold to the secondary market. This includes: Committing 90% of working pipeline; pair off or extend commitments when necessary; maintain accurate loan & commitment information within loan operating system (Encompass).
· Ship documents to document custodian when commitments are due. Upload mortgage file to Fannie Mae from Encompass. Update DNA to reflect FNMA Sold. Maintain loan sale reports.
· Ability to gather required reports and complete monthly balancing with Fannie Mae per Fannie Mae's requirements. Resolve overages/shortages. Resolve differences between Fannie Mae and STC core system for items including but not limited to principal and interest payments, interest rates, loan numbers, payoffs, posting errors, etc. Remit funds to Fannie Mae (daily). Upload daily loan activity report (LAR) to Fannie Mae. Evaluate Fannie Mae rejected payments. Upload semi-monthly LAR to Fannie Mae on 22nd of each month. Reconcile Fannie Mae portfolio & remittance (monthly).
· Process purchase advice remittances for other investors as needed.
· This job requires core processing loan maintenance capabilities.
· Participate in all required training sessions to increase knowledge and ensure compliance with all regulatory and investor requirements.
· Understand and support all BSA/AML responsibilities as applicable to the position as well as consistently, accurately, and timely carry out these responsibilities in compliance with the Bank's internal policies.
· Other duties may be assigned


SUPERVISORY RESPONSIBILITIES:
This job has no supervisory responsibilities.

QUALIFICATIONS:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE:
High School Diploma or general education degree (GED), thorough understanding of financial institution products and services.

TECHNICAL SKILLS:
Must be proficient in Microsoft Office products, internet browsers, and bank core operating system.
Advanced computer skills, including Excel spreadsheets. The ability to work with various browser-based systems and software systems is mandatory. Must be willing to learn new systems and not have any issues with emerging technology.

LANGUAGE SKILLS:
Ability to read, analyze and interpret various documents such as procedure manuals and ability to write routine correspondence. Must have excellent written and oral communication skills. Must possess good organization skills, the ability to read and interpret reports, and work quickly and efficiently while providing the highest level of accuracy and attention to detail.

MATHEMATICAL SKILLS:
Ability to calculate figures and amounts such as rates, discounts, interest, and percentages.

REASONING ABILITY:
Capable of working under pressure and meeting necessary deadlines to maximize bank profitability. Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems. Desire to understand and utilize systems to their fullest potential.

PHYSICAL DEMANDS:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit; use hands and fingers to operate office equipment such as keyboards, telephones, etc. and to talk and hear. The employee frequently is required to reach with hands and arms. The employee is occasionally required to stand; walk; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, and ability to adjust focus.

WORK ENVIRONMENT:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate.

Equal Opportunity Employer, including disability and protected veteran status.