Operation Service Department-Consumer Residential Mortgage Loan Processing Associate

Position

Operation Service Department - Consumer Residential Mortgage Loan Processing Associate

Location

US-NY-New York

Identification

ID 2026-4247

Category

Operations

Position Type

Full-Time

Posting Date

2 days ago (5/14/2026 6:23 AM)

Overview

The Consumer Residential Mortgage Loan Process Associate ensures the timely and accurate operation and administration of consumer mortgage loan transactions originated by the Front Business Line. The Associate reviews loan transactions to ensure alignment with the Bank’s procedures, policy guidelines, standards, and regulatory requirements.

Responsibilities

Consumer Residential Mortgage Transaction/Administration (80%)

• Review loan documents, credit financing documents, interest rate modifications, flood and insurance, appraisal documents, and amortization schedules against financing documents and internal approvals.
• Timely track and process disbursements of flood search fees, real estate tax service fees, and appraisal fees.
• Assess and process insurance payments for premiums held by the Bank.
• Verify escrow of flood insurance premiums for properties located in flood zones upon receipt of the Determination form from a third-party vendor.
• Create and maintain payment, real estate, and insurance tax files.
• Review end-of-day reconciliations to ensure all related transactions are processed.
• Prepare mortgage payment schedules.
• Prepare monthly LTV reports to Queens Branch.
• Monitor payment status of monthly loan payments and quarterly/semi-annual real estate tax payments; investigate and report findings of non-payment to Front Business Line.
• Monitor insurance policy expiry status monthly as reported by DCT; follow up for updated flood, appraisal, and insurance policies.
• Report overdue payments to Front Business Line.
• Process balance confirmations per customer request.

Risk Management/Compliance/Internal Audit (20%)

• Understand and comply with the Bank’s procedures, policies, standards, and regulatory requirements.
• Assist in updating procedures to reflect current workflow processes and regulatory updates.
• Periodically review IRS publications on Home Mortgage Interest Deduction to assess changes in requirements.
• Conduct flood searches and maintain the original copy of Flood Determination Forms for regulatory review.
• Prepare Annual Escrow Disclosure Statements and Year-End escrow statements.
• Ensure CFPB Mortgage Servicing Rules (Consumer Lending Compliance) are current and update Policy & Procedure Manual.
• Review Form 1098 Mortgage Interest Statement annually.
• Alert of any suspicious items and report to the BSA Officer of the Front Business Line.

Qualifications

• Bachelor's degree required.
• Experience in banking and financing is highly preferred.
• Understanding of different types of mortgage lending structures, review of flood & tax policies, reconciliation of payments, and basic accounting principles is required.

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education, and other qualifications.

USD $42,000.00 - USD $90,000.00 /Yr.

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