What are the responsibilities and job description for the Mortgage Assumption Specialist position at Edge Services?
See below and attached Job Description•To examine, evaluate, and process tasks associated with the assumption/release of liability requests per applicable federal/state laws, investor guidelines, and NFCU's policies and procedures. Assume responsibility as the point person and coordinate the processing from origination through disposition. Ensure timely review and submission of assumption/release of liability requests to relevant Real Estate Lending (REL) areas to minimize Navy Federal mortgage portfolio risk. Provide members with detailed information about assumption/release of liability requests & related servicing questions about their mortgage/equity loan. Manage process flow to ensure Service Level Agreements (SLAs) are met and quality of work is achieved. Work under moderate supervision. Perform basic/routine tasks with a narrow scope and moderate analysis.•Location: Candidates can be located in GPO (Pensacola, FL), WCC (Winchester, VA), or HQ (Vienna, VA)**Please submit your candidate(s) accordingly. Max rates per location are listed below:GPO (Pensacola, FL): Max Bill Rate ***/HRWCC (Winchester, VA): Max Bill Rate ***/HRHQ (Vienna, VA): Max Bill Rate ***/HR•Shift (Time): 8:00am - 4:30pm (local time)•Overtime: OT is not approved for this contract position•Campus Reporting Type: Hybrid with the expectation to report on campus a minimum of three days per week (ensuring to meet NFCU Hybrid Guidelines)•Contract Length: 6 months from start dateMortgage Assumption Specialist I DescriptionTo examine, evaluate, and process tasks associated with the assumption/release of liability requests per applicable federal/state laws, investor guidelines, and NFCU's policies and procedures. Assume responsibility as the point person and coordinate the processing from origination through disposition. Ensure timely review and submission of assumption/release of liability requests to relevant Real Estate Lending (REL) areas to minimize Navy Federal mortgage portfolio risk. Provide members with detailed information about assumption/release of liability requests & related servicing questions about their mortgage/equity loan. Manage process flow to ensure Service Level Agreements (SLAs) are met and quality of work is achieved. Work under moderate supervision. Perform basic/routine tasks with a narrow scope and moderate analysis. ResponsibilitiesResearch, respond, and track moderately complex inquiries about the assumption/release of liability requestsIdentify risk exposures to control and mitigate financial loss from mortgage and equity collateral transactions by performing internal/external inquiries and preliminary review of documentsObtain, review, and verify that mortgage applications have required loan documentation, such as title insurance, loan applications, credit reports, and income and asset declarations, are accurate and promptly provided to underwriters for loan approval and adherence to NFCU and investor guidelinesCommunicate extensively with members, external settlement attorneys, surveyors, title companies, survivors of the deceased, and attorneys regarding required documentation/expectations as the loan progresses through multiple loan origination systemsEnsure validation of Successor in Interest as regulated by the Consumer Financial Protection Bureau (CFPB) by reviewing documents and notes with the servicing system of recordCoordinate settlement dates with members, attorneys, and realtorsReconcile changes, revisions, and corrections with closing agents and settlement attorneys to ensure accurate and efficient processing of mortgage loansAnalyze, research, and resolve discrepancies, problems & issues related to member accounts/loans; may require additional interaction with members, other staff, and outside contacts for completionPerform other duties as assigned QualificationsWorking knowledge of CFPB servicing rules, NCUA requirements, and Navy Federal policies and proceduresWorking knowledge of current regulations and investor guidelines to offer options to Successors, such as assuming the loan or referring to Mortgage DefaultAbility to display the highest degree of tact, patience, sensitivity, and confidentialityExperience in managing multiple priorities independently and/or in a team environment to achieve goalsIncumbent will be required, before the assumption of employment duties, to register with the Nationwide Mortgage Licensing System and Registry, includes fingerprinting and background checksEssential skill in comprehending, analyzing, applying, and communicating complex written legal documentsBasic skills in following, interpreting, and applying relevant data/instructions to guidelines, procedures, practices, and regulationsBasic skills in exercising initiative and good judgment to make sound decisionsEffective organizational, planning, and time management skillsBasic research, analytical, and problem-solving skillsEffective word processing and spreadsheet software skillsBasic verbal and written communication skillsDesired - Associate degree in Business Administration, Finance, or related fieldDesired - Working knowledge of credit union operations/processesDesired - Working knowledge of NCUA regulations that govern the activities, products, and services of the business unitDesired - Working knowledge of products, services, processes, requirements, and systems related to the business unit
Salary : $25 - $26