Summer Associate Internship (Mortgage Payment/Payoff Specialist)

Company: Navy Federal Credit Union
Location: Pensacola
Posted on: September 16, 2023

Job Description:

OverviewThe Real Estate Lending (REL) Mortgage & Equity Servicing teams service all mortgage and fixed equity loans as well as home equity lines of credit from the time the loans close until they pay off. Our mission is to build a trusted relationship while providing an exceptional servicing experience for our members on what is most likely their largest financial asset. Our teams include Account Servicing, Account Servicing Support, Escrow Servicing, and Financial & Investor Reporting.Within Account Servicing, the Mortgage Payment Services team processes mortgage and equity loan payments and payoffs. They reverse payments and/or fees as needed and clear funds held in suspense. In addition, they perform daily balancing for automatic drafting and escrow suppression. Our goal is to provide the best member experience in a timely and accurate manner.The Summer Associate will process mortgage and equity loan payments and payoffs, respond to a large variety of member inquiries regarding mortgage and equity loan servicing via phone or onlinecommunication, and ensure General Accounting remits funds to investors. They will research and clear funds held in suspense, perform daily balancing for automatic drafting and escrow suppression, process Home Equity transactions, and reverse payments and/or fees as needed.The Summer Associate Program is a 12-week internship program beginning in May 2024 and ending in August 2024. Students will work on impactful projects and meaningful work during their internship. To qualify for this position, applicants must be currently pursuing a degree from an accredited college or university and have an anticipated graduation date of December 2024 or later.ResponsibilitiesPost manual payments, loan advances, adjustments, and escrow transactions for mortgage and equity loans using the Mortgage Servicing automated systemReview, verify, and balance cash receipts, debit, and credit activity via automated systemsBalance daily manual cash batches and prepare wire transfersReconcile ACH debit authorizations and journal vouchers to ensure the general ledger is updated, maintain registers and canceled check logsTrack recurring issues/problems and communicate findings to management Review manually/system generated checks for accuracyEnter mortgage/equity payoffs into the system and balance payoff transactionsResearch un-posted loan payments using automated systemsReceive/research returned checks from General Accounting to determine the correct amount applied to the mortgage, and reverse fundsResolve discrepancies in general ledger accountsReceive and process funds received via check, wire, etc. to pay off mortgages from origination, attorneys, title companies, and membersReverse loan payments, reapply corrected payments, adjust interest, etc., on mortgage and equity loansDetermine payment check negotiability and return non-negotiable items to membersQualificationsAbility to work independently and in a team environmentBasic organizational, planning, and time management skillsBasic research, analytical, and problem-solving skillsBasic skill in diagnosing and troubleshooting issuesBasic verbal and written communication skillsSome accounting skills and knowledge of Mortgage ServicingHours: Monday - Friday 8:00AM - 4:30PMLocation: 820 Follin Lane, Vienna, VA Heritage Oaks Dr Pensacola, FL 32526Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report onsite 4-16 days each month. The number of days reporting onsite will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and onboarding process.About UsYou have goals, dreams, hobbies, and things you're passionate about-what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them-friends, family, and passions. And we're looking for team members who are passionate about our mission-making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:--- Military Times 2022 Best for Vets Employers--- WayUp Top 100 Internship Programs--- Forbes 2022 The Best Employers for New Grads--- Fortune Best Workplaces for Women--- Fortune 100 Best Companies to Work For --- Computerworld Best Places to Work in IT--- Ripplematch Campus Forward Award - Excellence in Early Career Hiring--- Fortune Best Place to Work for Financial and Insurance ServicesEqual Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/DisabilityDisclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market positionBank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.

Keywords: Navy Federal Credit Union, Pensacola , Summer Associate Internship (Mortgage Payment/Payoff Specialist), Other , Pensacola, Florida