Residential Mortgage Servicing Specialist

Northern Bank; Woburn (MA); On-site; USD 37,000 - 40,000; Full time

Job summary

Northern Bank is seeking a Residential Loan Servicing Representative in Massachusetts to support processing and servicing of residential loans, including mortgage and lines of credit, while ensuring accuracy and compliance with bank procedures.

You will manage daily tasks such as paying taxes, insurance, escrow analyses, and liaison with attorneys and branches to clear documents, with a focus on outstanding items and customer responsiveness.

Qualifications

• Familiarity with investor reporting preferred.
• 1–3 years of experience in Residential Lending preferred.
• Associates degree or equivalent relevant work experience.
• Must be detailed, organized and customer service oriented.
• Intermediate technology skills including Word & Excel, and working with a core processor.
• Team player with a positive attitude.

Responsibilities

• Sets up new residential mortgage, construction mortgage and equity lines of credit into core processing system promptly after closing & funding.
• Reviews new loans booked by other staff members for accuracy and completeness.
• Maintains a log of incomplete or missing documents and follows-up with Attorneys’ office and/or branch personnel to clear up the issue.
• Organizes new loan file for scanning and filing.
• Performs general ledger reconciliations daily and monthly for assigned accounts.
• Responds to verbal & written requests for loan payoffs from attorneys and customers.
• Processes payments and payoffs daily, completes required general ledger tickets under dual control and produces balance sheet at end of day.
• Receives daily hazard insurance mail and reviews reports for ongoing tracking.
• Maintains report for Residential loans with flood insurance, ensures coverage is adequate for life of loan.
• Responsible for timely payments of real estate taxes for both Residential & Commercial loans. Coordinates with Tax Service.
• Assists with reviewing periodic escrow disclosure notices and handles customer calls on annual escrow analysis results.
• Processes re-amortization schedules due to principal curtailments.
• Works with vendor to force place hazard or flood insurance when needed.
• Responsible for payment of PMI premiums, escrowed hazard & flood insurance premiums to third-party vendor.
• Monitors and maintains monthly rate changes for Adjustible Rate Mortgages, sends notices to borrowers, responds to inquiries.
• Prepares mortgage discharges and related correspondence for paid loans to attorneys/ borrowers.
• Performs monetary and non-monetary maintenance on covered loans under dual control.
• Handles a variety of internal and external residential loan servicing calls.
• Receives wires for loans purchased and prepares funding sheet for manager’s approval; processes transfer transactions on Core Processor, MERS and People Soft; ensures Transfer of Servicing letters mailed.
• Prepares outgoing wires for Investor remittances, funding of new loans and payment of real estate taxes via CoreLogic.
• May serve as the Receptionist for the Residential Lending area.

Skills

Investor reporting experience

Residential Lending

Customer service oriented

Detail oriented

Education

Associates degree or equivalent relevant work experience

Tools

Word

Excel

Core processing system

Job description

Northern Bank is seeking a Residential Loan Servicing Representative in Massachusetts to support processing and servicing of residential loans, including mortgage and lines of credit, while ensuring accuracy and compliance with bank procedures.

You will manage daily tasks such as paying taxes, insurance, escrow analyses, and liaison with attorneys and branches to clear documents, with a focus on outstanding items and customer responsiveness.