Retail Loan Servicing Accounting Specialist

Description SUMMARY: Responsible for ensuring all sold loans are reported and remitted in accordance with appropriate investor guidelines. Process exception transactions for consumer loan types specifically for modifications, renewals, payment reversals, accrual adjustments, billing issues and other non-routine system issues. Review system releases working with management to determine specification changes, changes upcoming to core and necessary changes to staff's procedures. Balance daily and/or monthly department GLs working with staff to identify items to be cleared. Reconcile investor Principle & Interest (P&I) and Taxes & Insurance (T&I) custodial accounts for management's review in accordance with specific investor guidelines. Reconcile and process daily consumer and mortgage non-post transactions. Coordinate year end reporting processes for consumer loans including corrections and necessary staff training. ESSENTIAL DUTIES and RESPONSIBILITIES include, but are not limited to the following: - Perform monthly reporting and remittance requirements for all investor sold loans in accordance with investor requirements. This involves calculating all error amounts and conducting analysis of how and why error(s) occurred, and creating resolution to prevent future errors of the same nature - Review daily servicing reports to ensure GLs relating to investor reporting and remittance are in balance including advances and recoveries, in process accounts and scheduled funds due - Monitor investor loans for re-classification in accordance with investor requirements - Reconcile investor P&I and T&I custodial accounts for management's review in accordance with specific investor guidelines - Process exception transactions for all consumer loan types specifically for modifications, payment reversals, accrual adjustments, billing issues and other non-routine system issues - Balance department GLs on a daily or monthly basis working with staff to identify items to be cleared - Reconcile and process daily non post transaction for consumer including mortgage related occurrences - Review system releases working with management to determine specification changes upcoming to core and necessary changes to staff's procedures - Work with management to determine changes to current procedures identifying staff training necessary as releases are published - Identify and research non-routine transactional occurrences providing resolution and correction as warranted - Coordinate year end reporting processes for consumer loans including corrections and necessary staff training - Monitor and convert construction loans from simple interest to permanent financing finalizing construction term - Maintain up to date procedures for investor accounting processes monitoring changes by investor for the areas of reporting, payoff remittance, recasts, MI removal, modifications and remittance of investor owned funds - Prepare loan boarding funding sheet for operations staff ensuring loan received is a balanced transaction - Set up new participation records as loans are sold moving funds to the appropriate mortgage banking GLs - Work with manager to set up new investors, products or class codes as necessary - Complete all mandatory and elective training including BSA and Anti-Money Laundering procedures. Maintain compliance with all appropriate rules and regulations - Regular predictable attendance is an essential requirement of this position - Complete all other duties as assigned EDUCATION AND/OR EXPERIENCE: Minimum associate degree in a related field or five (5) years' experience in a similar lending work environment in lieu of degree Direct five (5) years' experience in an investor accounting, loan servicing or accounting departmen