Under the supervision of the Cash Processing Supervisor , the Cash Specialist is responsible for reviewing and processing mortgage remittances timely, accurately, and within the company's regulations and investor payment rules. This position requires high attention to details, good analytical skills, and excellent communication skills.
Job Functions and Responsibilities
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
- Review and verify payments received to assure accuracy and compliance with the company's depository rules.
- Obtain appropriate approvals, when require, from various internal departments based on loans statuses before applying remittances.
- Posting Repayments, Loss Drafts, and Payoffs received in the forms of checks, certified funds, and ACH.
- Research unidentified payments received and communicate with other departments to help identify and apply these payments to the correct accounts.
- Perform remote deposits of Repay, Payoff and Loss Draft Checks to various clearing/custodial accounts.
- Scanning and noting the company's system of funds received.
- Meet departmental standards for processing time and accuracy, and comply with all company's guidelines and policies.
- Other duties and special projects as assigned.
To perform this job successfully, an individual must have the following education and/or experience:
- High School Diploma / College course work required
- 2+ years of experience in banking or related field.
- Ability to work in a deadline driven environment and prioritize tasks efficiently to meets the department's deadlines.
- High attention to details accompanied with good time management and problem solving skills.
- Experience in a mortgage servicing environment or a payment processing environment is considered a plus.
Training / Licensing Requirements
Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
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.