Summer Intern (Mortgage Payment/Payoff Specialist)

Job Description

YOUR LIFE’S MISSION: POSSIBLE

You have goals, dreams, hobbies and things you’re passionate about.

What’s Important To You Is Important To Us

We’re looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them—friends, family and passions. And we’re looking for team members who are passionate about our mission—making a difference in military members’ and their families’ lives. Together, we can make it happen.

Don’t take our word for it.

• Military Times 2021 Best for Vets Employers
• WayUp Top 100 Internship Programs
• Forbes® 2022 The Best Employers for New Grads
• Forbes® America’s Best Employers
• Newsweek Top 100 Most Loved Workplaces
• 2021 People Companies that Care
• Fortune Best Workplaces for Women
• Fortune 100 Best Companies to Work For®
• Computerworld® Best Places to Work in IT

Basic Purpose

The Payment Services teams works to process mortgage and equity loan payments/payoffs. We reverse payments and/or fees as needed and clear funds held in suspense. In addition, we perform daily balancing for automatic drafting and escrow suppression. Our goal is to provide the best member experience in timely and accurate manner.

Joining this team will allow you to gain exposure in the following areas:

• Process mortgage and equity loan payments and payoffs
• Respond to a large variety of member inquiries regarding mortgage and equity

loan servicing via phone or online communication

• Ensure General Accounting remits funds to investors
• Research and clear funds held in suspense
• Perform daily balancing for automatic drafting and escrow suppression
• Process Home Equity transactions, and reverse payments and/or fees as needed
• A requirement of this position is you must be currently enrolled in college level courses or a degree-seeking program throughout the duration of the internship. Please upload your transcripts by clicking the “Attach Cover Letter” button during your application.

Responsibilities

• Post manual payments, loan advances, adjustments and escrow transactions for mortgage

and equity loans using Mortgage Servicing automated system

• Review, verify and balance cash receipts, debit, and credit activity via automated systems
• Balance daily manual cash batches and prepare wire transfers
• Reconcile ACH debit authorizations and journal vouchers to ensure general ledger is updated,

maintain registers and cancelled checks logs

• Track recurring issues/problems and communicates findings to management review

manually/system generated checks for accuracy

• Enter mortgage/equity payoffs into the system and balance payoff transactions
• Research un-posted loan payments using automated systems
• Receive/research returned checks from General Accounting to determine correct amount

applied to mortgage, and reverse funds

• Resolve discrepancies in general ledger accounts
• Receive and process funds received via check, wire, etc. to pay off mortgages from origination,

attorneys, title companies and members

• Reverse loan payments, reapply corrected payments, adjust interest, etc., on mortgage and equity loans
• Determine payment check negotiability and return non-negotiable items to members

Qualifications

• Must be pursuing an undergraduate or higher degree from an accredited college/university
• Ability to work independently and in a team environment
• Basic organizational, planning and time management skills
• Basic research, analytical, and problem-solving skills
• Basic skill in diagnosing and troubleshooting issues
• Basic verbal and written communication skills
• Some accounting skills and knowledge of Mortgage Servicing

Hours: Monday – Friday, 8:00AM – 4:30PM

Location: 5550 Heritage Oaks Drive, Pensacola, FL 32526 | 820 Follin Ln, Vienna, VA 22180

Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report on-site 4-16 days each month. The number of days reporting on-site will ultimately be determined by the employee’s leadership and business unit needs. You will learn more throughout the hiring and on boarding process.

Salary Range: $15.00 – $30.10 hourly

Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. Within this range, pay will be determined based on factors such as individual qualifications, location, and market position.

Posting End Date: 12/31/22

Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume.

Equal Employment Opportunity

Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability

COVID-19 Safety Protocols

All employees are expected to follow our COVID-19 safety protocols.

Disclaimer

Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position.

Bank Secrecy Act

Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.