Servicing Representative – Payment Processing Specialist
About The Position
SUMMARY: Extensive administrative work involved in servicing the mortgage loans and providing direct member service to the borrowers. Processing member’s payments and balancing bank accounts. Primary contacts include borrowers, investors and vendors. Servicing Representatives receive moderate supervision in the performance of duties and responsibilities. Work is generally evaluated on obtaining objectives with accuracy, timeliness and results. ESSENTIAL RESPONSIBILITIES & DUTIES: Entry Level Post payments from borrowers properly to ensure intended purposes of funds are recorded and appropriate information and loan balances are reflected in the system. Processes phone payment. Processes NSFs daily. Follow company policies and procedures. Meet deadlines. Ability to work with multiple payment processing programs. Senior - Level II Must be able to perform all responsibilities and functions listed for Level I with a high degree of independence Responsible for the training of new and current payment processors Collaborate with Accounting to reconcile out of balance conditions in daily work. Prepare bank deposits, account transfers, cash book entries and record necessary information as required Create files and post ACH and website payments Process payoff funds Process foreclosure reinstatement payments, bankruptcy payments, FMMA wires, borrower incentives, credit life payments. ESSENTIAL DUTIES, KNOWLEDGE, SKILLS, ABILITIES: Required: Thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirements. Familiarity with AllRegs. Advanced 10-key and calculator. Basic MS Office.
Requirements
- Thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirements.
- Familiarity with AllRegs.
- Advanced 10-key and calculator.
- Basic MS Office.
Nice To Haves
- Experience with automatic bill pay procedures.
- Experience importing and exporting payment files and wires.
- Familiarity with Filezilla.
- Education: High School Diploma.
- Experience: Entry level 1-2 years’ mortgage banking, teller, cashiering, or bookkeeping; Senior level 2–4-year accounting degree plus 3+ years loan servicing experience.
- Licenses/Certifications: none
Responsibilities
- Post payments from borrowers properly to ensure intended purposes of funds are recorded and appropriate information and loan balances are reflected in the system.
- Processes phone payment.
- Processes NSFs daily.
- Follow company policies and procedures.
- Meet deadlines.
- Ability to work with multiple payment processing programs.
- Responsible for the training of new and current payment processors
- Collaborate with Accounting to reconcile out of balance conditions in daily work.
- Prepare bank deposits, account transfers, cash book entries and record necessary information as required
- Create files and post ACH and website payments Process payoff funds
- Process foreclosure reinstatement payments, bankruptcy payments, FMMA wires, borrower incentives, credit life payments.
Benefits
- Medical Insurance
- Telehealth Services
- Dental Insurance
- Vision Insurance
- Life Insurance
- Short-term Disability
- Long-term Disability
- Legal and Identity Theft Protection
- Critical Illness Insurance
- Hospital Insurance
- Accident Insurance
- Participation in 401k Plan with up to 5% company match
- Variable Bonus Pay
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
Number of Employees
101-250 employees
