As a Reloads and Escalations Analyst, you will be expected to research and responde to all reinstatement requests received on paid off loans in Mortgage & Home Equity Cash Operations Division. The Senior Operations Analyst will perform complex analysis of loan activity involving an advanced understanding of mortgage servicing and accounting systems. The candidate must thoroughly understand a wide range of mortgage products and will interpret loan and related legal documents. The incumbent will be responsible for financial transactions and maintenance on litigated accounts and within large-scale remediation efforts. Within this position, it is of the utmost importance to ensure all prepared documents can be presented in court. The candidate must develop a keen understanding of loan amortization, preparing life of loan accounting, and secure a strong understanding of the processes and responsibilities of the Mortgage & Home Equity Cash Operations Division. The candidate must be able to evaluate financial and strategic processes through various methods, focusing on the client community and the financial elements of the mortgage accounts involved. The candidate must be able to evaluate all cases and recommend action based on the firm's exposure to legal and financial risks. The position requires strong analytical skills, excellent communication skills; as well as, advanced systems and mortgage servicing knowledge. The candidate must be capable of developing written procedures for use in the division and training staff on the use of those procedures. Other duties include performing other various monetary processing, research, and collection functions within the Mortgage & Home Equity Division, letter composition, Microsoft Excel reporting, and Microsoft Access reporting. Requires advanced knowledge of departmental and company operating procedures and policies
The Financial Services division is a key component of the Core Servicing operation, serving as the central point of processing and control for all monetary transactions while delivering high quality service to our 6.8 million mortgage and home equity customers. Key responsibilities include:
• Research and respond to all reinstatement requests received on paid off loans in all Mortgage and Home Equity servicing platforms.
• Establish and communicate reinstatement requirements for Chase, its borrowers, and involved third parties on each reinstatement request.
• Obtain, review, and maintain in reinstatement file all loan documentation that is pertinent to the reinstatement process (original mortgage/deed of trust, title policy, original note, mortgage assignments, subordination agreements, satisfaction/release documents)
• Review and decision all lien reinstatement documentation submitted by third parties, ensuring that Chase's financial and legal interests are protected.
• Ensure complete documentation on Chase's servicing systems of all contact/activity completed on the accounts.
• Ensure that Chase's security interests are protected or restored on each reinstated mortgage loan.
• Manage all payment processing through various channels and provide vendor oversight to ensure accurate and timely processing
• Handle all customer related research and adjustments for monetary transactions
• Manage all payoff processing and payoff related refunds
• Provide customer service, compliance and controls for non-traditional mortgage loans including Adjustable Rate Mortgages (ARMS), Step Rates, Balloons, and Buydowns.
• Perform reconciliations of all Servicing Clearing and Disbursements bank accounts as well as all investor P&I and T&I custodial bank accounts
• Execute all wires transfers, electronic funds transfers, and manual check disbursements as well as management of unclaimed funds and escheatment processes
• Manage all exception processing for home equity advances and monitor advance activity to prevent fraud losses
• Provide oversight and governance for all Suspense funds to ensure compliance and timely resolution
Principal Duties and Responsibilities:
• Work closely with Investor Reporting, Executive Office, and Year End to complete necessary corrections to loans
• Prepare management reports which detail operational statistics, status of the department, and valuable feedback upon which productivity can be measured and decisions made
• Assist with reporting, data management, query pull
• Create and analyze data queries and perform root cause and other analysis on divisional functions, processes, and applications
• Determine financial and legal risk to the firm on each reinstatement request based on the status of the security interest, property state, and known statutes and practices in said state
• Ensure complete documentation on Chase's servicing systems of all contact/activity completed on the accounts
• Submit daily bank account updates to ensure items are cleared within Service Level Agreements
• Assist with special projects assigned to the department
• Process work order requests from internal departments on escalated items and ensure that those requests are completed within service level agreements
Must possess excellent analytical and problem solving skills, a good working knowledge of the decisioning processes, be a self starter, and the ability to partner with other lines of business
Strong organizational and prioritization skills, ability to utilize a variety of analytical techniques, meet deadlines and produce quality results
Excellent written and verbal presentation skills to all levels of management
Ability to work with minimal direction and make solid fact-based judgement decisions in difficult situations all while ensuring solid operational controls are followed
Ability to work individually as well as with Supervisor and Manager to resolve escalated issues accurately and timely. Communicate and build partnerships with both internal and external customers
Knowledge and Experience
Bachelor's degree in business or related area preferred or equivalent work experience preferred.
High school diploma, or equivalent, required.
Minimum 2 years in a mortgage servicing experience or related field
Minimum of 2 years in an environment requiring direct customer contact required
Ability to navigate Chase servicing systems
Auditing and Research experience preferred
Minimum 2 years cash processing or accounting/bookkeeping experience
Strong organizational and prioritization skills, ability to utilize a variety of analytical techniques
Ability to meet deadlines and produce quality work
Must also possess excellent analytical and problem solving skills
Ability to work with all levels of management to resolve escalated issues accurately and timely
Ability to analyze and interpret data
Ability to meet deadlines and work in a fast-paced environment