What does a Mortgage Servicing Specialist do?
Mortgage servicing specialists are responsible for a broad range of tasks related to the processing and continued maintenance of mortgage loan accounts. They set up initial accounts for newly approved loans, serve as a direct contact for borrowers with questions or concerns, and implement automatic payment arrangements. They oversee account data and manage databases, running reports and performing analysis of the overall group of accounts or a specific subset. They may initiate appropriate actions for delinquent or nonperforming accounts, and oversee the final closeout process for satisfied loans.
Mortgage servicing specialists typically have at least a high school diploma, although additional education or training is preferred. They generally have a background in banking, business, or customer service roles. They must be highly organized and proficient in using common office software programs and data analysis tools.
Mortgage Servicing Specialist Salaries
Average Base Pay
Mortgage Servicing Specialist Insights
“No mentorship or guidance to fulfil career goals after asking them multiple times for it.”
“Good good good good good”
“Nothing that i can think ofother than that the job is demanding here but you get to learn a lot”
“Work and home life balance”
“Flexible work schedule is nice.”
“Good Pay and rewards for when you do well (e.g.”
“You get to meet diverse people and some become your best friends.”
“I got minimal training and was expected to know how to do stuff that I had never ever heard of before this point.”
Mortgage Servicing Specialist Interviews
Mortgage Servicing Specialist jobs
Frequently asked questions about the role and responsibilities of a mortgage servicing specialist
When working as a mortgage servicing specialist, the most common skills you will need to perform your job and for career success are Exceptional Organizational, Requests, Excellent Communication, Time Management and Researching.
- Underwriting Assistant
- Loan Processor
- Credit Analyst
The most common qualifications to become a mortgage servicing specialist is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.