Loan Accounting Specialist

Rhode Island Housing•Providence, RI

10d•$54,802 - $68,503•Hybrid

About The Position

RIHousing is seeking a Loan Accounting Specialist to support its multifamily loan portfolio as part of the Loan Servicing team. The role performs daily loan accounting activities, including construction loan advances, principal advances, reserve deposits and disbursements, escrow activity, loan-level reconciliations, and research. It also oversees insurance and real estate tax escrow functions for multifamily properties and provides customer service to property owners, borrowers, and management agents. Success requires analytical ability, managing multiple priorities, and compliance with regulatory, legal, and investor requirements. This is a hybrid position based in Providence, Rhode Island, with face-to-face collaboration and direct involvement in the office environment. The stated base annual full-time salary range is $54,802 to $68,503; the actual offer depends on experience and other job-related qualifications.

Requirements

At least three years of accounting/audit experience or loan servicing experience; public-sector experience is preferred.
Excellent verbal and written communication skills.
Experience with MS Office, including spreadsheets, and with Smartsheet, ShareFile, and loan accounting systems.
Attention to detail, ability to meet time-sensitive deadlines, and critical-thinking skills.

Nice To Haves

Public-sector accounting, audit, or loan servicing experience.
Associate's degree in accounting, business, or a related field.

Responsibilities

Process Development Division requests for multifamily construction projects, including accurate disbursements, multi-payee funding, and compliance with wire-processing controls.
Set up and maintain recurring and one-time ACH payment drafts.
Process and post requisitions from principal and reserve accounts.
Complete annual audit confirmation requests.
Receive and process surplus cash payments in accordance with loan agreements.
Research and reconcile loan payments, including escrow and reserve balances, and resolve discrepancies.
Review and analyze replacement reserve requests for compliance with investor, regulatory, and loan document requirements.
Review, analyze, and process insurance and real estate tax invoices in accordance with loan guidelines.
Coordinate with third-party tax vendors and municipal tax collectors to process real estate tax payments, including payments involving multiple parcels or subdivisions.
Calculate and implement changes to monthly insurance and real estate tax escrow collections based on annual escrow analysis.
Ensure required property insurance coverage is maintained in accordance with established guidelines for applicable policy types, such as general liability and builder’s risk.
Process adjustments to loan-level reserve billings in accordance with regulatory guidelines and legal documentation.
Review and update monthly billing statements.
Communicate regularly with internal and external partners, including insurance agents, municipal tax collectors, management agents, and auditors.
Review and interpret loan documents, including Notes, Loan Agreements, and legal descriptions, to ensure compliance with legal, regulatory, and investor requirements.
Contribute to special projects that enhance loan servicing efficiency.