Mortgage Assumption Specialist

System One; Pensacola (FL); Hybrid; USD 52,000 - 72,000; Full time

Job summary

System One is seeking a Mortgage Assumption Specialist I in Pensacola, FL. This contract role focuses on examining, evaluating, and processing assumption/release of liability requests per federal/state laws and investor guidelines.

You will coordinate processing from origination through disposition, ensuring SLAs and quality are met with support from the servicing system. The position requires strong knowledge of CFPB rules, NCUA requirements, and ability to manage multiple priorities with

Qualifications

• Must understand CFPB servicing rules, NCUA requirements, and company policies.
• Experience managing multiple priorities independently or in a team.
• Ability to review and interpret complex legal documents.
• Requires strong verbal and written communication skills.
• Background check and NMLS registration will be required prior to duties.

Responsibilities

• Research, respond, and track moderately complex inquiries about assumption/release of liability requests.
• Identify risk exposures to control and mitigate financial loss from mortgage transactions.
• Obtain, review, and verify required loan documentation for underwriters.
• Coordinate with members, attorneys, title companies, and settlement agents as the loan progresses.
• Validate Successor in Interest per CFPB guidelines with servicing system.
• Coordinate settlement dates with all parties and reconcile changes with closing agents.
• Analyze discrepancies in member accounts/loans and resolve issues.

Skills

CFPB/NCUA rules knowledge

Discretion/confidentiality

Multi-priority management

NMLS registration

Analytical problem solving

Time management

Communication skills

Document interpretation

Legal document comprehension

Education

Associate degree in Business Administration/Finance

Job description

Mortgage Assumption Specialist I

Location: Pensacola, FL (hybrid)

Pay Rate: Open to Both C2C and W2 options

Position Type: Contract

Description

To examine, evaluate, and process tasks associated with the assumption/release of liability requests per applicable federal/state laws, investor guidelines, and company 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 company 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.

Responsibilities

• Research, respond, and track moderately complex inquiries about the assumption/release of liability requests
• Identify risk exposures to control and mitigate financial loss from mortgage and equity collateral transactions by performing internal/external inquiries and preliminary review of documents
• Obtain, 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 company and investor guidelines
• Communicate 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 systems
• Ensure validation of Successor in Interest as regulated by the Consumer Financial Protection Bureau (CFPB) by reviewing documents and notes with the servicing system of record
• Coordinate settlement dates with members, attorneys, and realtors
• Reconcile changes, revisions, and corrections with closing agents and settlement attorneys to ensure accurate and efficient processing of mortgage loans
• Analyze, research, and resolve discrepancies, problems & issues related to member accounts/loans; may require additional interaction with members, other staff, and outside contacts for completion
• Perform other duties as assigned

Qualifications

• Working knowledge of CFPB servicing rules, NCUA requirements, and company policies and procedures
• Working knowledge of current regulations and investor guidelines to offer options to Successors, such as assuming the loan or referring to Mortgage Default
• Ability to display the highest degree of tact, patience, sensitivity, and confidentiality
• Experience in managing multiple priorities independently and/or in a team environment to achieve goals
• Incumbent will be required, before the assumption of employment duties, to register with the Nationwide Mortgage Licensing System and Registry, includes fingerprinting and background checks
• Essential skill in comprehending, analyzing, applying, and communicating complex written legal documents
• Basic skills in following, interpreting, and applying relevant data/instructions to guidelines, procedures, practices, and regulations
• Basic skills in exercising initiative and good judgment to make sound decisions
• Effective organizational, planning, and time management skills
• Basic research, analytical, and problem-solving skills
• Effective word processing and spreadsheet software skills
• Basic verbal and written communication skills
• Desired - Associate degree in Business Administration, Finance, or related field
• Desired - Working knowledge of credit union operations/processes
• Desired - Working knowledge of NCUA regulations that govern the activities, products, and services of the business unit
• Desired - Working knowledge of products, services, processes, requirements, and systems related to the business unit

Ref: #851-Rockville-S1

System One, and its subsidiaries including Joulé, ALTA IT Services, CM Access, TPGS, and MOUNTAIN, LTD., are leaders in delivering workforce solutions and integrated services across North America. We help clients get work done more efficiently and economically, without compromising quality. System One not only serves as a valued partner for our clients, but we offer eligible full-time employees health and welfare benefits coverage options including medical, dental, vision, spending accounts, life insurance, voluntary plans, as well as participation in a 401(k) plan.

System One is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, age, national origin, disability, family care or medical leave status, genetic information, veteran status, marital status, or any other characteristic protected by applicable federal, state, or local law.