Location Requirement : Ewing, NJ (Cenlar Office)
Please note that this position is based at our
Ewing, NJ Cenlar location
on-site presence for 4 days per week
. When applying, kindly ensure that you arelocal to this site
and / or able to
commute reliably
The Payoff Processor is responsible for analyzing mortgage payments received from borrowers, or third parties, determine whether the payment is sufficient to payoff the mortgage loan balance and apply payoff where applicable. Responsible for depositing checks to the Federal Reserve Bank.
Responsibilities :
Accurately inputs of all data to generate payoff statements in a timely manner according to the requestors instructions, following all pertinent and relative client or investor rulesPosts and reconciles payoff transactions received from all sources : checks, wire, branch feeds including GL accounts as instructed by internal departmentsCollaborates with attorneys / title companies / borrowers to resolve all payoff received that are short funds to pay off the loanWorks in tandem with the Investor Reporting department to ensure all special investor remittance requirements are consideredManages the daily suspense activity from system reports for paid in full loansManages / edits reports of final escrow review before it is released to the borrowerManages / edits reports of activity taking place after a payoff quote has been issued such as tax / insurance disbursement or returned check which requires a revised payoff quoteManages / edits report to release any additional funds still on the loan that are owed to the borrower in addition to the final escrow balance release at payoffClears outstanding debits and credits in the payment clearing accountCoordinates the identification and transfer of receipt of payoff checks and wires to other servicers for loans that have deconvertedFacilitates and collaborate with other departments for receipt of payoff proceeds for loans in default and post funds per the instructions of the default departmentsMonitors and track all work to be processed on the next business due to missing information or conditions on the loanMonitors and track all payoff wires and checks received on loans that have not boarded the system for an incoming client conversionTrains other processors to review and manage system reports to advise borrowers of low balance and maturing loansBalances all system activity and deposit all checks via electronic scanners, reconciling check deposit to system totals.Meets department standards for processing payoffs timely and accuratelyAssists in the opening and dissemination of mailWorks on special projects and any other duties assigned to facilitate the payoff processConsistently complies with all company guidelinesAppropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar's reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standardsQualifications :
High School Degree or GED required2-3 years of current, related cash experience in all phases of payment processing within mortgage servicingComputer literacy including but not limited to Windows, Excel, Word and OutlookStrong math aptitude essentialData processing experience required, or demonstrated proficiency in data entryDemonstrates initiative and a strong desire for success.Excellent attention to detailExcellent follow-up skills required with the ability to handle mortgagor issues as they relate to the payoff departmentExcellent written and oral communication skills requiredAbility to work independently within the guidelines of Cenlar policy and procedureDemonstrated ability to work as a team member in a diverse workforceJ-18808-Ljbffr