Mortgage Payment/Payoff Specialist I

Overview

To process mortgage and equity loan payments and payoffs. Respond to a large variety of member inquiries regarding mortgage and equity loan servicing via phone or online communication and ensure General Accounting remits funds to investors. Research and clear funds held in suspense. Perform daily balancing for automatic drafting and escrow suppression. Process Home Equity transactions, and reverse payments and/or fees as needed. Perform moderately complex/varied tasks.

Responsibilities

Process manual loan payments to include remitting funds, escrow payments and deposits, as well as HELOC advances

Review, verify and balance cash receipts, debit and credit activity via automated systems

Balance daily manual cash batches and prepare wire transfers

Post manual payments, loan advances, adjustments and escrow transactions for mortgage and equity loans using Mortgage Servicing automated system

Reconcile ACH debit authorizations and journal vouchers to ensure general ledger is updated, maintain registers and cancelled checks logs

Track recurring issues/problems and communicates findings to management and review manually/system generated checks for accuracy

Enter mortgage/equity payoffs into the system and balance payoff transactions

Research un-posted loan payments using automated systems

Receive/research returned checks from General Accounting to determine correct amount applied to mortgage, and reverse funds

Prepare charge-off memoranda, itemized audit trails of errors, and discrepancy summaries with corrective action(s) taken for review by management

Resolve discrepancies in general ledger accounts

Receive and process funds received via check, wire, etc. to pay off mortgages from origination, attorneys, title companies and members

Reverse loan payments, reapply corrected payments, adjust interest, etc., on mortgage and equity loans

Determine payment check negotiability and return non-negotiable items to members

Formulate detailed explanations to member correspondence questions

Research/initiate reversals from members accounts for returned drafted payments due to insufficient funds or incorrect information, advise the member of the overdrawn account

Correct misapplied payments and process reversals to members share and share checking accounts

Perform other related duties as assigned

Qualifications

Working knowledge of mortgage lending concepts and principles

Working knowledge of mortgage lending requirements, regulations and procedures for VA and conventional loan programs

Working knowledge of mortgage & equity payment/payoff functions and related servicing regulations

Working knowledge of mortgage servicing policies and practices

Working knowledge of Navy Federal financial and credit transaction documentation processes

Ability to work independently and in a team environment

Effective verbal and written communication skills

Effective research, analytical, and problem solving skills

Effective skill performing mathematical calculations and working accurately with numbers

Effective skill interpreting and applying oral and written instructions

Effective word processing and spreadsheet software skills

Effective skill exercising initiative and using good judgment to make sound decisions

Effective organizational, planning and time management skills

Basic 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

Working knowledge of Navy Federal mortgage servicing system-of-record JDS0245

Associates Degree or equivalent training, education or experience

Hours: Monday – Friday, 10:00AM – 6:30PM

Location: 5510 Heritage Oaks Drive, Pensacola, FL 32526

About Us

Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.

• Best Companies for Latinos to Work for 2024

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• Forbes® 2024 Americas Best Large Employers

• Forbes® 2023 The Best Employers for New Grads

• Fortune Best Workplaces for Millennials™ 2023

• Fortune Best Workplaces for Women ™ 2023

• Fortune 100 Best Companies to Work For® 2024

• Military Times 2023 Best for Vets Employers

• Newsweek Most Loved Workplaces

• Ripplematch Campus Forward Award – Excellence in Early Career Hiring

• Yello and WayUp Top 100 Internship Programs

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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

Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.

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.

REQNUMBER: 21677