Loan Servicing Special Loans Specialist
Company: Carrington Mortgage Services
Posted on: November 23, 2022
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Responsible for updating data fields in the servicing system
for compliance and changes needed to all types of special
- Performs research and makes accurate and timely system changes
in response to requests from investors, customers or employees from
- Review and maintain adjustable rate mortgage ("ARM") contracts,
indexes (i.e. Treasury, Libor, etc.) and balloon plans, if not
available in the system create new contracts as needed.
- Maintain the daily index values and populates ARM indices into
the servicing system to ensure proper payment calculations included
in the payment change notifications.
- Audit pending payment changes to ensure system and future
payment change notifications are accurate.
- Assist other CMS departments with special loan-related
inquiries such as supporting Home Retention/Loss Mitigation with
- Audit the entire Loan Servicing portfolio to identify new loans
that meet the requirements for Service Members Civil Relief Act
("SCRA") protection and send coverage accepted or denied letter as
- Conducts research to determine compliance with the SCRA
protection benefits and updates the servicing system
- Processes assumptions request and create the assumption package
and send to customer. Follow up with mortgage lending division to
determine if assumption package was approved and updates need to be
- Review HAMP modifications for principle reduction, borrower
incentives and recast eligibility, and makes system changes as
- Monitor, review and complete all 203k processes for loans
acquired by CMS.
- Identify potential updates or gaps in the department's policies
and procedures and provide recommendations to department
- Perform other duties as assigned.
ESSENTIAL KNOWLEDGE, SKILLS, ABILITIES, AND COMPETENCIES:
- Familiarity with special loan product types and
- Intermediate skills in Microsoft Word and Excel
- Intermediate industry-related experience preferred.
- Ability to understand, remember, and communicate routine,
- Ability to make decisions that have significant impact on the
immediate work unit and monitor impact outside the immediate work
- Ability to organize and prioritize own work schedule on
short-term basis (longer than one month).
- Ability to add, subtract, multiply, and divide and to record,
balance, and check results for accuracy.
- Ability to express or exchange ideas by means of the spoken
word, communicating orally with others accurately, audibly, and
EDUCATION, EXPERIENCE AND/OR LICENSES:
- High school diploma or equivalent required; some college
- One (1) to two (2) years' mortgage servicing experience.
Experience with special loan product types and documentation
Keywords: Carrington Mortgage Services, Fishers , Loan Servicing Special Loans Specialist, Other , Westfield, Indiana
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