Mortgage Operations Associate
2 weeks ago
Location
Remote
Company Overview
Planet Home Lending, LLC is a national mortgage lender and servicing organization that operates as a privately held entity. We are approved by FNMA and FHLMC, offering a diverse range of products including FHA, VA, Conventional, and USDA loans through both Retail and Correspondent Channels. Our company is experiencing consistent growth in sales and servicing.
Role Summary
The selected candidate will be responsible for overseeing and generating all written communications promptly and accurately for specialized loan portfolios, which include Balloon loans, Adjustable Rate Mortgages (ARMs), Loan Modifications, and Servicemembers Civil Relief Act (SCRA) loans. This role will also involve providing operational and reporting support for both Investor and Government agency portfolios, which includes maintaining and updating essential loan data within the servicing system and reviewing billing correspondence for accuracy.
Key Responsibilities
- Update the BKFA system with new indices relevant to the ARM portfolio calculations.
- Ensure that appropriate correspondence is dispatched to borrowers in accordance with applicable laws and agency guidelines.
- Conduct system maintenance and ensure proper documentation for all adjustments made to critical loan data, including modifications, due date changes, and deferments.
- Set up and maintain ACH data for all loans, ensuring timely notifications to borrowers, and generate drafting files for banks while reconciling amounts sent and received.
- Review and maintain billing cycle sweeps to guarantee that monthly statements are prepared and delivered in compliance with CFPB regulations.
- Determine the appropriate billing correspondence and verify the accuracy of print vendor billing statements.
- Complete all necessary steps, including updates to the BKFS system, to meet servicing requirements for Balloon Loans, Pay Option ARMs, and SCRA loans as necessary.
- High school diploma or equivalent is required; an Associate Degree is preferred.
- Prior experience in loan servicing is preferred.
- Comprehensive understanding of Balloon, Adjustable Rate Mortgage (ARM), and SCRA loan documentation is preferred.
- Familiarity with FHA, VA, and USDA Government loan products is preferred.
- Strong verbal and written communication skills are essential.
- Proficiency in Microsoft Office, particularly intermediate skills in Microsoft Excel.
- Demonstrated organizational skills and effective time management.
- Ability to handle multiple tasks and prioritize effectively.
- Capability to meet deadlines and adapt to a dynamic work environment.
- Understanding and utilization of investor guidelines is crucial.
Our comprehensive benefits package includes multiple medical plans, dental and vision options, employer-paid short-term and long-term disability insurance, basic life insurance, a 401(k) plan, 11 holidays, and three weeks of paid time off annually. Additional supplemental benefits are also available, including life insurance, critical illness, and accident plans.
Work Environment
This position is typically performed in a standard office environment. The physical demands include maintaining predictable attendance, effective communication, and the ability to stand, walk, sit, and use hands and fingers for various tasks. Occasionally, the employee may need to lift or move up to 10 pounds. Specific vision abilities required include close vision and the ability to adjust focus. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
This job description is not intended to be a comprehensive listing of all activities, duties, or responsibilities required of the employee. The Company reserves the right to amend or modify this document at any time without notice.
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