About the Position

The Payoff Specialist plays an important role in the organization by responding to and processing requests related to mortgage payoffs. Responsibilities include receiving and processing wire transfers and documents, updating and maintaining logs, and ensuring daily and monthly deadlines are met within preset guidelines.

Essential Functions

• Respond to questions and requests for documentation (e.g., payoff demand statements) from mortgagors, authorized third parties, and other departments.
• Prioritize and manage workflow to ensure all payoffs and releases of liens are processed within required timeframes.
• Assemble and prepare pay-off files and request original loan documents from Document Custodian.
• Prepare Release of Liens and ensure documents are sent to appropriate counties/title companies for recording within required state-specific timeframes.
• Mail payoff surplus refund checks to borrowers.
• Update and maintain systems, logs, reports, and files.
• Process demand requests and pay-off wires in accordance with daily deadlines and month-end schedules.
• Verify contact information by performing internet searches.
• Ensure mail is processed daily.
• Follow procedures to ensure compliance with internal business standards and applicable federal, state, local, or other regulatory disclosures and requirements.
• Provide support as needed with audits and to department members.
• Perform other duties as assigned.