Mortgage Servicing Specialist Job Description
Mortgage servicing is the process of managing a lender's collection of mortgage loans and handling customer inquiries or problems. Specialists are the individuals who perform the tasks involved with mortgage servicing.
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Types of Duties
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Mortgage servicing specialists monitor account delinquency, research missing payments, issue escrow payments, answer customer questions, prepare mortgage payoff letters and receive bankruptcy notices from borrowers.
Features
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Mortgage servicing specialists work with collectors and attorneys that represent lenders, notifying them about delinquencies, possible foreclosures, bankruptcies and other legal matters.
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Skills
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Successful mortgage servicing specialists possess communication and listening skills, attentiveness to detail and teamwork, organizational and problem-solving abilities. Specialists use computers to monitor accounts, so the ability to learn new software programs and operate database software is also necessary.
Education
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Some employers will consider mortgage servicing specialists who have a high school diploma or GED and experience preparing mortgage documentation or as an assistant specialist. Others prefer to hire individuals with an associate's or bachelor's degree in a field like business or accounting.
Compensation
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As of March 2011, mortgage servicing specialists averaged annual salaries of $36,000, according to Indeed.com.
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References
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