Loan Accounting Officer

Job Description

Job Description

Job Description

The Loan Accounting Officer I handles numerous accounting responsibilities related to servicing mortgage loans.

Job Requirements

• Monitor Loan Servicing Disbursements email box and process disbursements for the division daily
• Receive and decision Borrower/Trustee bankruptcy payments according to the posting matrix through the bankruptcy workstation within MSP daily, prepare deposit, and reconcile the batch.
• Research returned checks and send to updated address.
• Manage tasks assigned by other departments in the servicing system related to posting and disbursing funds.
• Decision suspense queue funds for borrower payments.
• Review incoming wire payoffs for proper application according to insurer and investor requirements, as well as federal regulations.
• Review the daily P100 report related to errors from the electronic or internal batches processed prior day, and resolve the exceptions listed before close of business.
• Review the ACH NSF report, and reverse ACH payments returned on assigned days. Reverse check payments that were returned.
• Balance daily posting activity comparing the MSP servicing system reports to the previous day posting batches
• Categorize incoming mail for the loan accounting team and apply payments, check payoffs and manage a variety of written requests from borrowers.
• Scan deposits for banking.
• Disburse and deposit various program funds as request by the Homeownership Programs division– create corresponding journal entries monthly.
• Applying and reporting payments from PAHAF (PA Homeowners Assistance Fund).
• Research and void stale dated checks monthly. Create wire and corresponding journal entry for money going back on to an active account. Create journal entries for money being turned over to the PA treasury.
• Manage daily faxed/email requests for payoff amounts and VOM’s (Verification of Mortgage). Generate payoff letters/VOM’s and forward them to the borrower or approved third party as necessary.
• Create monthly journal entries for wires/deposits completed throughout the month.
• Monitor ALSV email box and complete/distribute items as needed.
• Field phone calls from borrowers and approved third parties. (this includes a staffed queue line). Escalate inquiries as necessary to the supervisor or Manager.
• Other duties as assigned by Manager, including but not limited to: answering questions and providing assistance to borrowers transferred from the Solutions Center.

Education:

• Associate or higher-level degree (in accounting) preferred.

Knowledge/ Skills:

• Basic knowledge of loan servicing, with general knowledge of mortgage accounting and accounting/bookkeeping, is preferred. Two years of experience is also preferred.
• Experience with AS400, Black Knight MSP, ALLREGS, and FHA CONNECTION is a plus. The candidate must have experience with PC Windows software applications such as Word and Excel.
• Strong customer service skills. Ability to handle customer inquiries and complaints courteously and professionally is essential.
• Must be able to work effectively both independently and within a team environment.
• A high level of conscientiousness and attention to detail is a must.
• Must have a satisfactory attendance record.

Physical Demands:

• Ability to safely and successfully perform the essential job functions consistent with the ADA, FMLA and other federal, state and local standards, including meeting qualitative and/or quantitative productivity standards.
• It is essential to maintain regular, punctual attendance consistent with the ADA, FMLA, and other federal, state, and local standards