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SalaryOverview
To process and evaluate specialized mortgage account changes including, but not limited to, modifications, contractual adjustments such as annual or monthly rate changes. To answer mortgage related inquires and questions regarding active loans for members and internal customers. To set up and maintain records within the Mortgage Servicing Platform (MSP). Perform basic/routine tasks with basic scope.
Responsibilities
- Set up and review the scheduled drafting system for all loans on automatic payments; implement and update automatic member payment options for mortgage and equity loans.
- Prepare, submit, enact and review offers for a Streamlined Rate Reduction in partnership with the mortgage origination team. Basic/Routine
- Process online communication requests to review and update member loans by Navy Federal employees.
- Review data reports identifying possible discrepancies in member information and correct within MSP.
- Verify accurate credit bureau reporting and reporting for equity loans with a freeze added or removed by Equity Lending in MSP system
- Review discrepancies in 1098 reporting and adjust as appropriate
- Review and process member requests for expedited equity loan checks. Basic/Routine
- Process, review, and verify Home Affordable Modification Alternative (HARMA) modifications at the direction of the mortgage originations team
- Review and maintain the drafting discount program, ensuring timely removal of the discount for members who delete or alter drafting to a non-Navy Federal account
- Review, verify, and when needed correct notifications to members of pending changes to loans (i.e. ARM. interest only to principal and interest) in accordance with timely notice requirements; generate documentation, enact and review the modification of 2/2 ARM rates for the member in accordance with original loan documentation
- Review accounts on Budget Easy Pay with funds in suspense and contact members to resolve, review reports of compromised automatic payment accounts and update accordingly
- Generate documentation, enact, and review the conversion of equity lines of credit to fixed equity loans in accordance with the original loan documents signed by the member Basic/Routine
- Process Home Equity Lines of Credit (HELOC) credit card order requests
- Review errors identified by the Contact Center or Post Closing team on loans download where MSP does not match the signed documentation on file
- Process loan assumptions per documentation provided by the mortgage origination team
- Maintain the indices which determine the rates for ARM and equity loan variable rates
- Assist the Mortgage Correspondence team by providing detailed information responding to member letters and Navy Federal Online Account Access (NFOAA) correspondence, and monitor the fax database and distribute or respond appropriately to faxes received from members.
- Discuss with members the options for recasting a loan, drawing up appropriate documentation, ensuring the recast is performed correctly
- Enter consumer and business loans to MSP systems that have not downloaded through existing automated processes or at the direction of Business Services.
- Process collection and deferral modifications based on documentation provided by the Member Outreach area.
- Partner with Mortgage Collections for the handling of loans where members have transferred title incorrectly.
- Perform other duties as assigned
Qualifications
- Ability to work independently and in a team environment
- Effective in remaining diplomatic and tactful when interacting with staff, management, vendors, and members
- Effective verbal and written communication skills
- Basic skills in performing mathematical calculations and working accurately with numbers
- Basic skills in researching, analyzing, and problem solving
- Basic skills in interpreting and applying instructions
- Effective skills in word processing and spreadsheet software
- Basic skills in exercising initiative and using good judgment to make sound decisions
- Effective skills in organizing, planning, and time management to produce desired results and achieve goals and objectives
- Effective skill maintaining accuracy with attention to detail and meeting deadlines
- Effective skill examining and interpreting information quickly and accurately
Desired Qualification(s)
- Familiarity with Navy Federal mortgage products, services, programs, policies and procedures
- Familiarity with mortgage lending requirements, regulations, and procedures and mortgage servicing policies and practices
- Familiarity with mortgage & equity payment/payoff functions and related servicing regulations
- Familiarity with Navy Federal financial and credit transaction processes and mortgage servicing system
- Ability to analyze, comprehend, and explain complex mortgage loan accounts
- Exposure to automated lending systems
- NMLS certification
Hours: Monday - Friday, 11:00AM - 7:30PM
Location: 141 Security Drive, Winchester, VA 22602
About Us
You have goals, dreams, hobbies, and things you're passionate about—what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them—friends, family, and passions. And we're looking for team members who are passionate about our mission—making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:
Military Times 2022 Best for Vets Employers
WayUp Top 100 Internship Programs
Forbes® 2022 The Best Employers for New Grads
Fortune Best Workplaces for Women
Fortune 100 Best Companies to Work For®
Computerworld® Best Places to Work in IT
Ripplematch Campus Forward Award - Excellence in Early Career Hiring
Fortune Best Place to Work for Financial and Insurance Services
Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
