Loan Payoff Associate

Description

Position Summary:

The Loan Payoff Associate quotes and processes residential and consumer loan payoffs and releases liens.

Duties and Responsibilities:

1. Quotes preliminary and final residential and consumer loan payoff amounts; gives instructions to customers, financial institutions and title companies regarding payoffs; processes payoffs on loans in the core servicing system.
2. Prepares and tracks satisfactions of mortgages and partial releases on mortgage loans; sends all final papers, refund checks, final escrows, paid notes, and cancelled mortgages on paid off loans.
3. Researches and responds to customer and third-party inquiries regarding payoffs and lien releases. 
4. Processes lien releases and related customer correspondence on titles for boat loans, auto loans and other consumer loan products.
5. Performs wire reconciliations on service released loans and removes transferred loan from core servicing system.
6. Complies with all applicable banking laws and regulations, including, but not limited to the Bank Secrecy Act, USA Patriot Act, and related anti-money laundering statutes, and federal consumer protection legislation and regulations.
7. Other duties as required.

The duties outlined above are a summary and may not be an exhaustive or comprehensive list of all possible responsibilities, tasks, and duties. All job descriptions may be amended at any time at the sole discretion of FMHC.

Requirements

Qualifications and Skills:

1. 1-2 years of experience in mortgage lending is required along with a strong understanding of lending laws, regulations, and guidelines is required.
2. Additional experience in finance services or banking is preferred.
3. Proficiency in MS Office [Outlook, Excel, Word] or similar software is required. Encompass, Cleartouch, Nautilus, various government and investor software/web portals is preferred.  
4. High School Diploma or equivalent is required.

Necessary competencies:

1. Resilience
2. Collaboration
3. Communication
4. Service Orientation
5. Quality Focused
6. Organizational Skills
7. Accountability 

Physical Environment

• While performing the duties of this job, the employee is regularly required to lift, walk, stand, sit, bend, reach with hands and arms, climb, push/pull, use hands, and see, hear and speak.
• The employee must occasionally lift and/or move up to 25 pounds.
• The noise level in the work environment is usually quiet to moderate.
• This position is performed in an office setting, five days a week with typical work hours being 8.30a through 5.15p.