Special Loans Specialist

loanDepot, Inc.; Plano (TX); On-site; USD 48,000 - 66,000; Full time

Job summary

loanDepot is seeking a dedicated professional to manage daily operations in the Special Loans Department and support all aspects of Loan Servicing. The role oversees ARM, DSI, SCRA, Assumptions, and loan modification system changes while maintaining current servicing knowledge and regulatory compliance.

The candidate will coordinate documentation, monitor ARM loans, process modifications, and ensure accurate communications with borrowers within required timeframes. Prior MSP experience is a plus.

Qualifications

• High School Degree/GED required and a minimum of three (3) + years’ equivalent work experience.
• Experience in the Mortgage industry preferred.
• Experience with Black Knight’s MSP servicing system a plus.

Responsibilities

• Setups of ARM, DSI, SCRA and modified loans, collects supporting documentation; assists in gathering documentation for management to prepare audit responses.
• Monitors the status of ARM loans; processes ARM rate changes, index updates and related system maintenance.
• Reviews ARM Change Notifications for accuracy prior to mailing and ensures regulatory timeframes for borrower communications.
• Performs all aspects of recast modifications and loan re-amortizations.
• Reviews newly boarded buydown loans to ensure terms are set up correctly and buydown funds are deposited.
• Sends monthly buydown letters on loans with expiring subsidies.
• Reviews Note/DOT on Down Payment Assistance (DPA) Loans and handles term-specific processing.
• Updates escrow payee headers and handles system changes for assumptions.
• Interacts daily with internal departments, vendors and investors; ensures compliance with investor guidelines and laws.

Job description

Position Summary

Responsible for the daily functions of the Special Loans Department and supporting all aspects of Loan Servicing. Oversees the proper handling of ARM, DSI, SCRA, Assumptions, and Loan Modification system changes. Maintains updated servicing knowledge. This position ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

Position Summary

Responsible for the daily functions of the Special Loans Department and supporting all aspects of Loan Servicing. Oversees the proper handling of ARM, DSI, SCRA, Assumptions, and Loan Modification system changes. Maintains updated servicing knowledge. This position ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

Responsibilities

• Setups of ARM, DSI, SCRA and modified loans, collects supporting documentation; assists in gathering documentation for management to prepare audit responses.
• Responsible for SCRA Deferment Military Modifications.
• Monitors the status of ARM loans. Accurately performs functions required to process ARM rate changes, index updates and related system maintenance. Uses critical thinking to work exception reports and clears exceptions by researching and correcting errors.
• Reviews ARM Change Notifications for accuracy prior to mailing. Ensures all written communication is provided to borrowers within regulatory timeframes.
• Performs all aspects of recast modifications and loan re-amortizations.
• Reviews newly boarded buydown loans to ensure buydown all terms are set up correctly and buydown funds are deposited to the loan.
• Sends monthly buydown letters on loans with expiring monthly subsidies.
• Reviews Note/DOT on Down Payment Assistance (DPA) Loans to determine if any special processing is needed. Sets up appropriate tasks and monitors loans for processing of note specific terms (Interest rates, PI payments, loan forgiveness, etc.)
• Updates escrow payee headers.
• Responsible for processing of system changes for assumptions.
• Researches requests for Note discrepancies on new loan boarding’s.
• Interacts daily with internal departments, vendors and investors, as needed.
• Ensures process and production results meet/exceed expectations related to investor guidelines, regulatory compliance, and state and federal law as applicable.
• Handles moderate issues related to special loans functions and may respond via email and/or written correspondence, documenting all information on servicing system at each point of communication while researching solutions.
• General duties, including mail handling and document scanning.
• Performs other duties and projects assigned.

Requirements

• High School Degree/GED required and a minimum of three (3) + years’ equivalent work experience.
• Experience in the Mortgage industry preferred.
• Experience with Black Knight’s MSP servicing system a plus.

Why work for #teamloanDepot

• Aggressive compensation package based on experience and skill set.
• Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive.
• Work with other passionate, purposeful, and customer-centric people.
• Extensive internal growth and professional development opportunities including tuition reimbursement.
• Comprehensive benefits package including Medical/Dental/Vision.
• Wellness program to support both mental and physical health.
• Generous paid time off for both exempt and non-exempt positions.

About LoanDepot

loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, as the nation's second largest non-bank retail mortgage lender, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.

Base pay is one piece of our total rewards package and is structured within a range so you can progress as you grow in the role. For this position, the anticipated annual base pay is $23.08 to $31.73 per hour nationally. In certain high-cost geographic markets (CA), the anticipated base pay is $26.44 to $36.30 per hour. Actual compensation will depend on your skills, experience, qualifications, and the work location tied to our geographic pay structure.

We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.