Loan Servicing Special Loans Specialist

Carrington Holding Company, LLC; Westfield (IN); Remote; USD 28,000 - 30,000; Full time

Benefits offered by this job

Healthcare plans

401(k) match (discretionary, 50% of 4%

Employee discounts through portal

Educational Reimbursement

Referral bonuses

Training programs

Carrington Charitable Foundation

Job summary

Carrington Mortgage Services is seeking a Special Loans Specialist to support special loan products, including modifications, ARM loans, and SCRA adjustments, from a remote home office.

You will update servicing data, review contracts, monitor index values, and assist with mitigation efforts to ensure compliant and accurate loan handling. Experience in mortgage servicing and documentation is preferred.

Qualifications

• High school diploma or equivalent required; some college preferred.
• One to two years’ mortgage servicing experience.
• Experience with special loan product types and documentation preferred.

Responsibilities

• Update data fields in the servicing system for compliance and changes to special loans.
• Perform research and implement system changes from investors, customers, or other departments.
• Review ARM contracts, indexes, and balloon plans; create new contracts when needed.
• Maintain daily index values and propagate ARM indices for accurate payments.
• Audit pending payment changes and ensure notifications are accurate.
• Assist CMS departments with loan-related inquiries and loss mitigation support.
• Identify loans meeting SCRA requirements and issue coverage letters.

Skills

Microsoft Word

Microsoft Excel

Education

High school diploma or equivalent

Some college

Job description

Job Description

Come join our amazing team and work remote from home!

The Special Loans Specialist will provide ongoing support for special loan products (i.e. loan modifications, ARM loans, SCRA adjustments, assumptions, etc.) originated by the Mortgage Lending Division and loans acquired through acquisition. Perform all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates. The target pay for this position is $20.00/hr - $22.00/hr.

What You’ll Do

• Responsible for updating data fields in the servicing system for compliance and changes needed to all types of special loans.
• Performs research and makes accurate and timely system changes in response to requests from investors, customers or employees from other departments.
• Review and maintain adjustable rate mortgage (“ARM”) contracts, indexes (i.e. Treasury, Libor, etc.) and balloon plans, if not available in the system create new contracts as needed.
• Maintain the daily index values and populates ARM indices into the servicing system to ensure proper payment calculations included in the payment change notifications.
• Audit pending payment changes to ensure system and future payment change notifications are accurate.
• Assist other CMS departments with special loan-related inquiries such as supporting Home Retention/Loss Mitigation with modification-related issues.
• Audit the entire Loan Servicing portfolio to identify new loans that meet the requirements for Service Members Civil Relief Act (“SCRA”) protection and send coverage accepted or denied letter as appropriate.
• Conducts research to determine compliance with the SCRA protection benefits and updates the servicing system accordingly.
• Processes assumptions request and create the assumption package and send to customer. Follow up with mortgage lending division to determine if assumption package was approved and updates need to be made.
• Review HAMP modifications for principle reduction, borrower incentives and recast eligibility, and makes system changes as needed.
• Monitor, review and complete all 203k processes for loans acquired by CMS.
• Identify potential updates or gaps in the department’s policies and procedures and provide recommendations to department management.
• Familiarity with special loan product types and documentation.
• Intermediate skills in Microsoft Word and Excel required.
• Intermediate industry-related experience preferred.
• Ability to understand, remember, and communicate routine, factual information.
• Ability to make decisions that have significant impact on the immediate work unit and monitor impact outside the immediate work unit.
• Ability to organize and prioritize own work schedule on short-term basis (longer than one month).
• Ability to add, subtract, multiply, and divide and to record, balance, and check results for accuracy.
• Ability to express or exchange ideas by means of the spoken word, communicating orally with others accurately, audibly, and quickly.

What You’ll Need

• High school diploma or equivalent required; some college preferred.
• One (1) to two (2) years’ mortgage servicing experience.
• Experience with special loan product types and documentation preferred.

Our Company

Carrington Mortgage Services is part of The Carrington Companies, which provide integrated, full-lifecycle mortgage loan servicing assistance to borrowers and investors, delivering exceptional customer care and programs that support borrowers and their homeownership experience. We hope you’ll consider joining our growing team of uniquely talented professionals as we transform residential real estate. To read more visit: www.carringtonmortgage.com .

What We Offer

• Comprehensive healthcare plans for you and your family. Plus, a discretionary 401(k) match of 50% of the first 4% of pay contributed.
• Access to several fitness, restaurant, retail (and more!) discounts through our employee portal.
• Customized training programs to help you advance your career.
• Employee referral bonuses so you’ll get paid to help Carrington and Vylla grow.
• Educational Reimbursement.
• Carrington Charitable Foundation contributes to the community through causes that reflect the interests of Carrington Associates. For more information about Carrington Charitable Foundation, and the organizations and programs, it supports through specific fundraising efforts, please visit: carringtoncf.org.

Notice to all applicants: Carrington does not do interviews or make offers via text or chat.