Payment Processing Specialist- Loan Servicing

TEKsystems•Lake Forest, CA

7d•$19 - $24•Onsite

About The Position

The Payment Processing / Loan Servicing Specialist is responsible for ensuring the accurate and timely processing of loan payments, maintaining account integrity, and supporting cross‑functional teams to resolve payment-related issues. This role plays a critical part in reconciliation, compliance, and customer account accuracy within a high‑volume servicing environment.

Requirements

Loan servicing
Payment processing
Auto lending or mortgage lending
Multi-tasking in a high‑volume environment
Attention to detail and accuracy
1–3 years of experience in payment processing or loan servicing (auto finance preferred; mortgage experience accepted).
Intermediate knowledge of National Automated Clearing House Association (NACHA) rules and compliance.
Proven track record of strong performance and accountability.
Experience working with CRM and loan servicing systems.
Strong time management, organizational, and prioritization skills.
Effective written and verbal communication skills.
Exceptional attention to detail.
High school diploma or equivalent required.

Responsibilities

Maintain accurate loan account balances and amortization schedules following payment activity.
Process and apply all payment types—including check, ACH, lockbox, and recurring payments—timely and accurately within the servicing system.
Deposit and reconcile all check payments in accordance with internal service level agreements.
Perform daily reconciliation of payments from all sources and distribute reconciled data internally.
Reverse and reapply payments as needed to correct posting errors.
Manage unapplied payment queues and ensure proper allocation in the servicing system.
Coordinate with Loan Servicing, Collections, Customer Service, and IT teams to resolve payment disputes, account corrections, and month‑end data discrepancies.
Assist with payoff quotes by ensuring all payments are accurately reflected prior to calculation.
Support escrow, insurance, fee adjustments, and loan modifications based on payment changes.
Process unwinds, net funds, and loan modifications in accordance with policy.
Set up and maintain recurring payment arrangements.
Review ACH setup reports to ensure same‑day ACH payments are processed correctly.
Review NSF fee reports to confirm fees are applied in accordance with policy.
Waive fees when appropriate and in compliance with company guidelines.
Retrieve and distribute incoming mail to appropriate parties in a timely manner.