Job Overview
PenFed is hiring a (Hybrid) Mortgage Servicing Escrow Administrator at our San Antonio, Texas or Irving, Texas service center. The primary purpose of this job is to administer escrow account functions for PenFed First Mortgage and Equity loan products. Responsibilities of this position include the performance of all functions related to timely and accurate servicing of all aspects of members escrow account, including contact with members if and when required to fulfill escrow functions. Responsible for transactional processing, compliance adherence, and workflow completion for all aspects of escrow administration including but not limited to initial and periodic escrow analysis, tax line creation and payment fulfillment and insurance line creation and payment fulfillment.
Responsibilities
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.
- Ensure that each month's Mass Analysis cycle is completed in an accurate and timely manner.
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Review escrow analysis results that fall outside of predetermined criteria. Perform all loan-level corrections identified prior to finalizing each month's Mass Analysis cycle. Document the servicing system with the reason(s) why a loan's analysis results are accurate, but outside the predetermined criteria where applicable.
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Professionally discuss large escrow shortages revealed during a loan's first annual escrow analysis with affected members. Discuss the available options with members about an upcoming increase in the monthly escrow payment.
- Ensure that accurate and compliant initial escrow analyses are generated for all loans within regulatory guidelines of a loan transfer to PenFed. Advise manager/supervisor of common findings and errors in order to improve processes.
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Accurately generate individual escrow analyses when requested by members under approved circumstances as needed.
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Accurately perform all projected escrow analyses for pending loss mitigation loan modifications and finalize each projected escrow analysis upon completion of each modification.
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Perform all required bankruptcy POC escrow analyses.
- Provide assistance to with unique or complex escrow analysis inquires. Respond to all assigned task and inquiry requests in an accurate and timely manner. Research and resolve all escrow analysis issues to completion.
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Develop and maintain knowledge of the MSP mortgage system of record and its use in performing various escrow functions as well as related functional areas such as cash, loss mitigation, etc.
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Serve as a subject matter expert in all escrow related regulations and servicing system functionality and reports.
- Collaborate with appropriate vendors who support all PenFed escrow functions of tax, insurance, and hazard claim losses.
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Complete projects and audits as assigned by manager/supervisor.
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Maintain a working knowledge of federal, state, county or city, investor, insurer and internal laws, policies and procedures with regard to mortgage loan servicing. This includes tax jurisdiction due dates in all states, counties and cities where PenFed has real estate loans; and Fannie Mae, FHLMC, VA, FHA and MI company servicing requirements.
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Maintain confidentiality of member's information.
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Maintain awareness and report any instances of concern outside the PenFed risk culture and established policies and procedures.
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Thoroughly understand all PenFed loan products and programs, loan transaction history, including payment activity, escrow disbursements, rate and P&I payment changes, and payment reversals.
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Possess a good working knowledge of servicing guidelines and regulatory requirements established under RESPA and implemented through CFPB and PenFed.
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Meet established standards and guidelines with regard to compliance, job knowledge, quality attendance and punctuality, efficiency, initiative, member service and overall performance.
*This role is responsible for ensuring business continuity.*
Qualifications
Equivalent combination of education and experience is considered.
- Associates degree or combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform essential job functions.
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Three (3) to four (4) years' of mortgage servicing experience.
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Strong oral and written communication skills required.
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Ability to work effectively with internal partners such as loss mitigation, auditing, and compliance.
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Ability to work under pressure in a fast-paced, priority work environment.
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Possess knowledge of Escrow relating to taxes and insurance, ARM, Fixed, and Balloon rate Notes.
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Possess knowledge and recognition of loan related documents such as Note, Mortgage/Deed of Trust, Riders PMI/VA and Flood Certificates, and HUD-I.
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Ability to work effectively in a team-oriented environment as well as independently.
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Analytical and math skills required.
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Present a positive and professional demeanor at all times.
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Proficient in special loan products, Microsoft Word, Excel, Outlook, Black Knight Mortgage Servicing Program (MSP), Penguin, Hogan and any other mortgage software.
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Experience using A.I. tools preferred
Supervisory Responsibility
This position will not supervise employees.
Licenses and Certifications
There are no additional certifications required.
Work Environment
While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.
*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*
Travel
Limited travel to various worksites may be required.
#LI-Hybrid
Benefits
At PenFed, we offer a robust benefits package designed to support you both personally and professionally. You'll have access to comprehensive health, dental, and vision plans; paid time off; and family-friendly benefits like paid parental leave, care support, and fitness center access. Financial wellness is encouraged through features like a 401(k) match, employee loan discounts, and fully paid life and disability coverage. We also support growth via education assistance, community involvement, and volunteer opportunities.
Our Purpose
Helping members achieve their dreams since 1935.
Pentagon Federal Credit Union (PenFed) is one of America's largest federal credit unions, serving 2.8 million members worldwide with $29 billion in assets. PenFed offers market-leading certificates, checking and savings, credit cards, personal loans, mortgages, auto loans, and a wide range of other financial services, always with members' interests in mind. PenFed is federally insured by the NCUA and is an Equal Housing Lender.
Berkshire Hathaway HomeServices PenFed Realty, LLC is a full-service real estate company ready to assist our clients with buying, selling and renting a home. The company is a wholly owned subsidiary of PenFed Credit Union and is the largest independently-owned brokerage in the Berkshire Hathaway HomeServices network, placing us in the top 1% of all real estate brokerages in the country.
With almost 60 offices and nearly 2,000 world-class sales professionals, we offer complete service coverage in Virginia, Maryland, the District of Columbia, Delaware, Pennsylvania, West Virginia, Florida, Tennessee, Kansas and Texas. In addition, we also offer specialized client services which include management of vacation properties and long-term rentals, corporate relocation services and national referral network.
Equal Employment Opportunity
PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.
PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 402-639-8568.
