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Payoff Lien Release Specialist
Walter Investment Management Corp
Houston, TX, United States
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Reverse Mortgage Solutions, Inc. (RMS) is a subsidiary of Ditech Holding Corporation. Reverse Mortgage Solutions, Inc. (RMS) was formed in March 2007 by a group of leading mortgage and technology executives to meet the growing demand for the servicing and private label sub-servicing of reverse mortgages. With corporate headquarters in Houston, Texas we are proud to be a HUD-, FHA- and Fannie Mae-approved servicer with a “STRONG” rating from Standard & Poor’s Rating Services. At RMS we recognize that our employees are our most valuable assets. We operate with an entrepreneurial spirit: we move quickly, adapt to changes in the marketplace, and are focused on being the leading servicer of reverse mortgages. We offer a wide range of positions in a workplace that fosters career growth for talented and motivated professionals. This is your unique opportunity to join our team!
SUMMARY
Under the supervision and guidance of the Payoff Lien Release Supervisor, the Payoff Lien Release Specialist will be responsible for performing tasks/responsibilities related to processing release of liens and original loan documents on loans paid in full in the servicing portfolio. Responsibilities must be performed within established KPIs and within State and Regulatory guidelines.
KEY ACCOUNTABILITIES
• Process and quality control collateral release of liens received daily from Doc Solution in
accordance with set procedures. Ensure the release of lien is for the correct loan which was paid in full and all data on the release matches the collateral being released.
• Process overage payment to applicable party, i.e., borrower, attorney, etc. and in
accordance with policy/procedures, KPIs and ensuring SOX Controls are met.
• Research Navigator for legal documents on overage/refund disbursements, returned and
outstanding aged checks, name change on returned overage checks
• Perform the task of reviewing the Outstanding Check GL Report by determining if the check should be escheated.
• Processing bankruptcy Assignment of Mortgage requests from the Bankruptcy Department.
• Perform quality assurance steps to increase efficiency on ALL releases insuring correct information is referenced from the recorded mortgage/deed of trust, confirming the borrowers address prior to preparing the release to avoid returned mail, as well as the following: All AOM’s (bankruptcy and foreclosure).
• Perform quality assurance steps to increase efficiency on ALL overage/refund disbursement requests.
• Validate the existence of recorded loan documents in Navigator and HERMIT/STORM system on paid-in-full loans, and short sales.
• Work returned mail.
• Process paid-in-full notes, and mortgages/deeds of trust once delivered from the Final Documents department and stamp “Paid in Full”.
• Process all release of lien requests, and AOMs daily, upon receipt from vendor, including the disbursement of recording fees.
• Perform notary function for all documents processed daily prior to shipment to vendor for recording.
• Image the release of lien package into Navigator prior to shipment to the vendor for recording.
• Update daily Excel spreadsheet with list of prepared releases and/or AOM daily prior to shipment to the vendor for recording.
• Respond to emails from internal and external customers.
• Research documentation requests and assist in the resolution of issues which prevent or negatively impact the preparation and delivery of customer paid loan packages.
• Prepare executed releases for shipping by matching Navigator checks and/or Corporate Advance checks with executed releases.
• Update Excel spreadsheet with shipping date, check amounts, and/or amount billed by DS (Doc Solutions). Prepare FedEx shipping label and shipping report from releases entered on Excel spreadsheet prior to the end of each day.
• Provide support as it relates to payoff lien release inquiries/issues/concerns.
• Assist with additional departmental duties, such as Paid-in-full notes and/or deeds or mortgages stamped “Paid-in-full” for delivery to Doc Solutions, disbursement overages, research of unresolved release issues, assigned by supervisor or manager.
• Maintains positive customer relationships by providing prompt and appropriate responses to inquiries/issues/concerns; follow through with respect to commitments and corrections; provides customers with confirmation of actions taken; escalate matters as applicable.
• Prioritize work to ensure deadlines are met within established policy/procedures; KPIs and in accordance with all state mandated deadlines.
• Complete all required training.
• Perform special projects and other duties as assigned.
SELECTION CRITERIA
• High school diploma or equivalent, college is a plus.
• 3-5 years of mortgage experience, preferably in payoff administration or title curative work.
• Stable job history.
• Reverse mortgage loan experience preferred.
• Working knowledge of State and Regulatory Law as related to payoff and release of liens.
• Effective communication skills.
• Strong Analytical skills needed to research and resolve issues related to the liens.
• Consistent professional demeanor required.
• Proficient with MS Excel and MS Word.
• Well organized, effective time management, prioritize and allocate workload for optimum
efficiency.
• Strong Team Player.
• Ability to perform multiple tasks, process high volumes and meet critical deadlines while
maintaining accuracy and quality.
• Effective problem solving skills.
• Strong work and business ethics.
• Ability to work overtime during periods of heavy volume.
In addition to the Company’s standard background check, this position also requires the successful completion of a background check conducted by the FDIC to include criminal background check, credit check and fingerprinting.
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