Job Information
Massachusetts Institute of Technology Loan Administration Specialist in Cambridge, Massachusetts
Loan Administration Specialist
Job Number: 24040
Functional Area: Credit Union
Department: Credit Union
School Area: Credit Union
Employment Type: Full-time (Hybrid)
Employment Category: Non-Exempt
Visa Sponsorship Available: No
Schedule: Hybrid
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Job Description
LOAN ADMINISTRATION SPECIALIST, MIT Federal Credit Union (MITFCU), to service nationwide real estate and consumer loans. Responsibilities include end-of-day reporting; maintaining mortgage pipeline; post-closing quality assurance; reviewing and uploading closing packages to MSS; monitoring and filing original trailing documents; ensuring loans are transferred and assigned correctly; processing daily reports, exceptions, and balances in the MSS general ledger; processing, researching, and balancing daily investor remittances; performing daily/monthly reconciliation and repairing MERS and MSS discrepancies; performing MERS PIF deactivation; generating and analyzing new loans report; processing, reviewing, and delivering loan payoff statements and processing payoff wires/checks; generating PIF real estate loans report and monthly late fees and billing statements for mortgage loans; performing quality control checks on real estate tax disbursements; monitoring CoreLogic portfolio; monitoring and processing flood, homeowner’s, private mortgage insurance, and other escrow payments; assisting members with insurance claims; performing and reviewing annual escrow analysis; processing and researching PMI cancellation requests; processing principal payments and producing re-amortization schedule; and performing a variety of related duties.
Job Requirements
REQUIRED: high school diploma or its equivalent; one year of experience in the banking/credit union industry, preferably with loan servicing, lending, or credit union operations; experience with FISERV DNA system; knowledge of Mortgage Electronic Registration System (MERS) procedures, CFPB regulations, general loan servicing, and real estate loan servicing regulatory requirements; proficiency with MS Office (Word and Excel); excellent organizational, member service, and written and verbal communication skills; ability to form long-term business relationships and handle multiple tasks with speed and accuracy; initiative; and attention to detail. PREFERRED: knowledge of Fannie Mae, Freddie Mac, and FHLB investor delivery, servicing, and reporting; and Outlook experience. Job #24040-55/15/24