Retail Loan Servicing Accounting Specialist

Job Details 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 natureReview 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 dueMonitor investor loans for re-classification in accordance with investor requirementsReconcile investor P&I and T&I custodial accounts for management’s review in accordance with specific investor guidelinesProcess exception transactions for all consumer loan types specifically for modifications, payment reversals, accrual adjustments, billing issues and other non-routine system issuesBalance department GLs on a daily or monthly basis working with staff to identify items to be clearedReconcile and process daily non post transaction for consumer including mortgage related occurrencesReview system releases working with management to determine specification changes upcoming to core and necessary changes to staff’s proceduresWork with management to determine changes to current procedures identifying staff training necessary as releases are publishedIdentify and research non-routine transactional occurrences providing resolution and correction as warrantedCoordinate year end reporting processes for consumer loans including corrections and necessary staff trainingMonitor and convert construction loans from simple interest to permanent financing finalizing construction termMaintain 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 fundsPrepare loan boarding funding sheet for operations staff ensuring loan received is a balanced transactionSet up new participation records as loans are sold moving funds to the appropriate mortgage banking GLsWork with manager to set up new investors, products or class codes as necessaryComplete all mandatory and elective training including BSA and Anti-Money Laundering procedures. Maintain compliance with all appropriate rules and regulationsRegular predictable attendance is an essential requirement of this positionComplete 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 degreeDirect five (5) years’ experience in an investor accounting, loan servicing or accounting department with an emphasis on investor guidelines and internal controlsAbility to read and understand loan documents including modifications, renewal requests etc.Strong exposure to Fiserv Premier system with ability to understand system specifications relating to exception processes and/or investor reportingMinimum three (3) years hands on experience with FreddieMac and/or FannieMae reporting and remittance requirement including custodial account reconciliations for management reviewUnderstanding of interest accrual methods for all types of loansMust process a strong organizational ability with attention to detail with ability to multi task in a fast paced environmentGood verbal and written communication skillsGood problem solver with ability to research and communicate resultsTeam oriented with demonstrated effort to assist other department staff during peak work flow E-Verify is used to confirm the identity and employment eligibility of all newly hired employees. Farmers National Banc Corp. is an Equal Opportunity Employer: disability/veteran