Exceptions Processing Researcher II at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, MortgageIndustries

Requirements

Associate's Degree or equivalent work experience
Minimum 5 years advanced level mortgage banking experience in servicing or operations
Knowledge of the fundamental concepts related to mortgage
Knowledge of the Bank's, Investor's, Government and Underwriting Program requirements
Knowledge of all documents used by the Bank in the origination of FHA, VA and conventional loans
Computer literate with intermediate proficiency in Microsoft Outlook, Word, Excel and Access (or equivalent database reporting programs)
Excellent Customer Service Skills
Strong verbal and written communication skills
Strong analytical skills
Ability to work efficiently with a low margin of error
Ability to work independently and meet deadlines

Responsibilities

Investigates customer, retail and/or affiliate inquiries and independently researches and resolves problems related to ARM Loans, Balloon Loans, Modifications, Soldiers and Sailors Civil Relief Act, Fee Waivers, Buy-downs, etc
Prepares legal documents related to ARM loans, Principal Reduction modifications, etc. and makes monetary transactions to update new loan parameters to system
Compiles and/or balances data for reports, general ledger accounts, and entries for processing
Performs quality control assessments for completed tasks and makes appropriate procedure recommendations, updates and completes applicable training
Processes Unintentional Balloon Loans, notifies customers according to investor requirements and processes accordingly, refers to default as needed
Maintains and updates ARM indices as reported by the Fed
Completes ARM and Principal Reduction loan modifications on current loans and processes to system. Processes all mortgages to appropriate system
Monitors accounts that qualify under the Soldier's and Sailor's Relief Act, ensures all adjustments are made to the account and the customer is monitored for discharge in accordance with the Act and investor requirements
Performs manual rate changes for ARMs that have annual or semi-annual rate change cycles and other ARM loans with freeze codes
Monitors AllRegs for changes in regulations that may affect Loan Servicing
Works special projects as assigned by Manager
Other duties as assigned

Skills

Key technologies and capabilities for this role

ARM LoansBalloon LoansLoan ModificationsPrincipal ReductionSoldiers and Sailors Civil Relief ActLegal Document PreparationMortgage ProcessingData CompilationGeneral Ledger EntriesQuality ControlRisk ManagementCustomer Service

Questions & Answers

Common questions about this position

What is the salary range for this Exceptions Processing Researcher II position?

This information is not specified in the job description.

Is this a remote position or does it require office work?

This information is not specified in the job description.

What skills and experience are required for this role?

An Associate's Degree or equivalent work experience is required, along with a minimum of 5 years advanced level mortgage banking experience in servicing or operations. Candidates need knowledge of mortgage fundamentals, Bank/Investor/Government requirements, loan documents for FHA/VA/conventional loans, and intermediate proficiency in Microsoft Outlook, Word, Excel, and Access.

What does the team structure look like for this position?

This is an individual contributor role with no supervisory responsibilities.

What makes a strong candidate for this Exceptions Processing Researcher II role?

Strong candidates will have an Associate's Degree or equivalent, at least 5 years of advanced mortgage banking experience in servicing or operations, deep knowledge of mortgage concepts, regulatory requirements, and loan documents, plus intermediate skills in Microsoft Office tools like Excel and Access.

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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