Mortgage Servicing Cash Specialist

About the role

The incumbent is responsible for performing the duties and services necessary to protect VyStar’s interest in mortgaged properties. This generally includes but is not limited to processing daily mortgage payments, resolving unapplied/suspense items, payment research, cash corrections and responding to member inquiries. The Cash Specialist is responsible for accurately processing, posting, balancing, and reconciling all mortgage-related payments and cash transactions.

Responsibilities

• Communicate effectively with the members and business units to assist in answering questions regarding the mortgage payment or account history.
• Timely processing of mortgage payments, payoffs and account corrections.
• Daily balancing of mortgage cash activity, including clearing of any suspense or un-posted items.
• Create/maintain necessary desk top procedures relating to cash posting, suspense clearing, and payment corrections.
• Perform cash-related research and balancing exceptions.
• Verify mortgage loans are set up correctly in the servicing system relating to payment application fields and cash setup accuracy.
• Process payoff funds accurately.
• Identify and resolve opportunities to improve accuracy and efficiency in cash-posting workflows.
• All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work.

Qualifications

• Educational requirement: High School Diploma or GED.
• Continuing education via local conferences and workshops is required for updates on federal regulations and secondary market requirements.
• Experience: Minimum of two years of experience in a financial institution with familiarity in cash management, payment processing, preferably mortgage loan servicing. Two plus years of experience in mortgage servicing cash management, investor accounting, or loan servicing operations preferred.
• Knowledge: Strong working knowledge of custodial accounting, cash reconciliation, and investor reporting preferred. Proficiency with Microsoft Excel and Outlook. Strong analytical, research, and problem-solving skills. High attention to detail with ability to meet strict deadlines. Familiarity of mortgage documents is for identifying cash discrepancies preferred. Experience with MSP (Black Knight), Sagent, LoanSphere, or similar servicing systems preferred. Experience working with Fannie Mae, Freddie Mac, Ginnie Mae, FHA, VA, or private investor portfolios preferred. Understanding of remittance types, trial balance reconciliation, advance management, and custodial banking requirements preferred.
• Skills: Positive, well-developed communication skills, both written and oral, be detail oriented, have good organizational and active listening skills, the ability to work in a fast-paced environment, and proven ability to work with others.
• Personal qualities: Professional conduct and appearance, self-motivated, able to communicate with members on all levels.
• Equipment: Must have knowledge of all Microsoft Office applications and credit union software and/or core operating systems pertinent to completing various tasks and responsibilities of the position.