The Sr. Loan Accountant will serve as the primary interface with Servicers to communicate and resolve specific loan data variances, required remittance adjustments, penalty assessments and pending ARM loan changes. Responsible for reconciling and ensuring the system data integrity of detailed loan level information for the loan accounting process; ensure the timely and accurate collection of servicer cash and fees due. Conducts periodic audits of servicer custodial account activity to ensure that funds due to Master Servicing and/or Investors are being maintained in accordance with Servicer Guide requirements. Utilizes his/her business knowledge and collaborative skills to analyze current processes and procedures, identify needed change, and implement solutions either as an individual or as part of a special project team.
JOB FUNCTIONS AND RESPONSIBILITIES:
- Researches and provides timely resolution of Servicer to Master Servicer loan data variances; appropriately and promptly updates systems/databases, as required.
- Analyzes cash receipts and allocates to outstanding Servicer receivables and payables; identifies aged receivables and ensures that collection efforts are appropriately escalated.
- Reviews reporting and remitting performance of assigned servicers to identify opportunity for improved performance. Will need to direct Servicers and recommend how process needs to improve and or change, so as to address root cause.
- Negotiates with Servicers to improve quality, quantity, and accuracy of data reported. Provides training and recommendations to Servicers on methods to improve accuracy. Will analyze trends in performance and hold regular meetings with Servicers.
- Evaluates current processes to identify business gaps and implement solutions. Recognize opportunities to benefit existing processes and manages implementation of approved changes. Assists in the definition of system specifications to support Loan Accounting process improvements, testing of system enhancements and validation of results.
- Responsible for providing data reconciliation assistance and training to other team members.
- Responsible for understanding the immediate and downstream ledger impact of Loan Accounting transaction and apply that knowledge, effectively, to prevent/minimize ledger variances.
- Consistently reviews and applies requirements of Servicer Guide, servicing agreements/contracts, and internal Loan Accounting procedures. Analyze Servicer Guide and contracts to identify and implement changes that support greater efficiency.
- Review loan documents (i.e. Note, Modification Agreements, ARM Rider, etc.) to resolve loan level variances.
- Create queries from internal systems and databases to support or improve process.
- Responsible for the timely update of new Servicer set-up in SBO, including gathering Servicer rules and contracts required to establish new customer records.
- Administer and load daily update of SBO for new loan funding’s. Communicate with associates accountable for new loan boarding to resolve data discrepancies that prevent setup or cause funding adjustments.
- Resolve escalated issues in support of department and management.
- Participate in team and project meetings, plan and facilitate meetings as necessary.
To perform this job successfully, an individual must have the following education and/or experience:
- High school diploma, GED or military equivalent required
- Four year degree from an accredited university preferred
- Minimum three years of varied mortgage banking or financial experience. Investor Reporting experience preferred
- Basic knowledge of SBO 2000 Master Servicing software, preferred
- Strong skills using Microsoft Office suite (Excel, Outlook, Access, Word)
- Excellent math and analytical skills
- Knowledge of Loan Servicing and all support areas
- Strong verbal (negotiating and presentation) and written communication skills
- Ability to effectively prioritize assignments and handle multiple projects/assignments
- Ability to read, understand and analyze loan documents
- Strong knowledge in the areas of Investor Reporting, Accounting, or Finance
- Decision making abilities that demonstrate focus on the customer and a recognition of business objectives
- Ability to work independently and as part of a diverse team
- Ability to build and maintain effective business relationships, internal and external
- Strong organizational skills
- Ability to achieve tight deadlines in a timely manner
Company: PHH Mortgage
PHH Mortgage, a wholly owned subsidiary of Ocwen Financial Corporation, is one of the largest subservicers of residential mortgages in the United States. PHH Mortgage provides servicing solutions to companies who own mortgage servicing rights and offers portfolio retention services to extend and enhance customer relationships.
PHH has been providing mortgage lending and servicing solutions since 1984 and is dedicated to responsible and ethical practices while delivering an exceptional customer experience. We strictly focus on subservicing and portfolio retention allowing our diverse professional clients – representing some of the largest and most recognizable financial and wealth management institutions, investors of MSRs, regional and community banks, and credit unions – to concentrate on their core businesses, while providing borrowers with exceptional customer service throughout the life of their loans.
Adhering to the highest levels of risk and compliance, built to bank-like standards, we build relationships with our clients and their customers to promote a philosophy of retaining “customers for life.” We strive to be a natural extension of each client’s team, helping them to keep their expenses down, borrowers satisfied and service levels up while meeting today’s regulatory demands and changing market conditions.
Ocwen is proud to be an equal opportunity workplace and is an affirmative action employer. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.
This position is not eligible to be performed in the state of Colorado.