Sr. Mortgage Operations Specialist

Thank you for your interest in Bellco Credit Union! We’re a local not-for-profit organization that has been giving back to our members, the communities we serve, and of course, our employees since 1936. Offering one of the best employee benefits packages around, Bellco is a leader in fostering, developing, and engaging staff to become expert financial-service ambassadors. You’re a part of something more at Bellco—a place you can be proud of.

LOCATION: Corporate                                                                   DIVISION:    SVP-CMXO

FUNCTION DESCRIPTION:

The Sr. Mortgage Operations Specialist facilitates and completes the Correspondent delivery file review and purchase process. The Specialist recommends the purchase disposition and notifies Correspondent partners of required items needed to complete a loan purchase.  This includes both service released and servicing retained purchases.   This role also serves as the primary liaison and subject matter expert on loan origination system and enhancement, sharing information and procedures across business channels.  This role serves as a subject matter expert regarding all real estate questions and initiatives relating to MERS. This role will perform data review functions comprising system-to-system data reconciliation to ensure the mortgage electronic registration system (‘MERS’) related data on the member servicing system matches the values in the MERS System data fields.  Performs loan delivery functions when mortgage loans are sold.  Perform reconciliation and review of all investor reporting activity for each account maintained by the credit union to ensure accuracy and fulfillment of investor requirements.  Coordinates with third parties for loan purchases, sales and quality control activities.     

ORGANIZATIONAL RELATIONSHIPS:

Reports to:            Director – Real Estate Operations   

Supervises:            None

Contacts:              Bellco, BHL, CUSO employees, Correspondent partners, auditors, examiners, vendors, suppliers, service providers and other financial institutions including credit union partners, strategic partners, governmental agencies, GSEs and credit union executive staff.

QUALIFICATIONS/REQUIREMENTS:

Experience:           4 years of real estate mortgage experience to include either post-closing, loan delivery and/or correspondent experience

2 years of Mortgage System knowledge-including knowledgeable coordination with system administrators

Education:            Bachelor’s degree in related field or equivalent experience

Skills:     Must possess both strong verbal and written communication, organization, presentation, customer service and interpersonal skills

Detail oriented, flexible and works well within a fast-paced team environment.

Demonstrates strong analytical/problem solving and time management skills

Strong PC skills to include Microsoft Word and Excel

Knowledge of First Mortgage Loan Origination Systems with the ability to translate business needs to system requirements

Advanced knowledge of real estate lending guidelines, systems, loan products and documents.

Advanced knowledge of Desktop Underwriter and Loan Conditions

Knowledge of loan delivery – MERS experience preferred

Knowledge of Investor Reporting and/or mortgage loan financial balancing with some servicing knowledge

ESSENTIAL FUNCTIONS:

1. Provides a valuable and enjoyable experience to members, partners, and internal customers during interactions adhering to Bellco’s Core Values and Act Nice Behaviors.  Consistently suggests ways to improve the member experience through improved processes and technology.
2. Review mortgage files, as needed, to ensure file meets Federal, State, Agency and Bellco guidelines prior to purchase.
3. Assist as needed with timely receipt of documentation or trailing documents from Correspondent partners and third-party vendors.  
4. Books correspondent loans manually as necessary into the Core system (DNA)
5. This role supports all real estate loan servicing questions and initiatives relating to MERS. Ensure compliance with all MERS requirements and conduct document reviews in alignment with MERS guidelines.
6. Reconcile Mortgage Electronic Registration System (MERS) data and documents in an efficient and accurate manner. Involves validating MERS loans within 30 days of transfer, conducting in-depth research to resolve complex issues, and managing the administrative tasks of loan servicing such as document requests.
7. Reconcile MERS to core system for accuracy of reporting. Update the internal and external system of record to ensure accurate loan level data required for MERS adherence.
8. Perform reconciliation and review of all investor activity for each account maintained by the credit union to ensure accuracy and fulfillment of investor requirements.
9. Work directly with investor servicing representatives including FNMA, to resolve any errors, mid-monthly/monthly reporting, and day-to-day processing. The primary goal is to ensure all transactions, reporting, remitting, and reconciliations are timely, accurate and complete.
10. Ensure all General Ledger items are identified and resolved for assigned Investors.
11. Ensure all real estate loan investor reporting requirements are executed with accuracy and completeness.  Examples of duties may include but are not limited to completing daily remittances, resolving loan edits/rejects, complete the root cause for issues to prevent recurring rejects/edits, and complete mid-month and monthly reporting requirements by established due dates.
12. Perform reconciliation and review of all investor activity for each account maintained by the credit union to ensure accuracy and fulfillment of investor requirements.
13. Prepare purchase advice, reviewing the pricing and accuracy of the information prior to distributing to Bellco Management.  Prepares and/or monitors post purchase adjustments, purchase advice and trailing documents. 
14. Act as the primary system expert for Correspondent platform and coordinates with First Mortgage Admin for updates and system requirements. 
15. Coordinates creation and development in testing automation processes for the benefit of Bellco.

16. When manual processes are required, updates the appropriate purchase checklist as necessary and manages distribution.

17. Identify and communicate adverse issues, trends or inefficiencies to management and other lines of business along with proposed solutions and contribute to agreed upon resolutions.
18. Coordinates with internal and external parties on collection of quality control documentation.
19. Maintain all procedures and updates as required. Generate, analyze, and store monthly reports.
20. Regular and punctual attendance.

Management retains the discretion to add to or change the duties of the position as business need dictates

WORKING CONDITIONS:

Office Environment, Remote Environment as necessary

Bellco Credit Union provides a comprehensive benefits package to employees, including: Medical, Dental, Vision, 401 (k) with company match, Supplemental Life Insurance, Paid Vacation, Paid Sick Days, and Paid Holidays.
 
In addition to base compensation, Bellco Credit Union offers bonuses for the following roles:
Non-exempt branch roles may earn monthly bonuses for meeting production goals and quarterly bonuses for meeting team goals. 
Exempt branch roles may earn quarterly bonuses for production and team goals. 
Exempt non-branch management roles may be eligible for an annual managerial bonus. 
Non-branch non-management roles may be eligible for on-the-spot bonuses for extraordinary performance.