Payment Manager

Position Summary

Directs the daily operations of payment processing administration, which includes maintaining compliance with investor/insurer requirements, monthly reconciliations, timely posting of borrower payments, MIP payments as well as vendor payments, monitoring daily activity and providing internal training to staff as investor/insurer guidelines change.

• Directly supervises staff; interviews, hires, and trains employees; makes assignments and monitors work; develops employee skills and encourages growth and development; reviews and evaluates employee performance; addresses workplace issues and provides guidance, coaching, and disciplinary measures for staff; addresses personnel issues in conjunction with appropriate leadership and the Human Resources division.
• Directs daily payment operations, making recommendations to increase efficiency, improve timely payment of vendor items and maintain full investor/insurer compliance.
• Manages daily payment operations, making recommendations to increase efficiency, improve on-line/Automated Clearing House (ACH) payment participation and maintain full investor/insurer compliance related to payment processing activities.
• Manages manual and electronic postings of funds received from borrowers, lenders, insurers, and investors ensuring proper posting.
• Manages the daily and monthly operations of the Payoff area including final payoff calculation and payoff loss analysis.
• Manages the daily vendor invoice disbursement process and reconciliation, including the outgoing checks to be mailed with advice of payment.
• Manages Investor reconciliation and reporting. Subject Matter Expert on Ginnie Mae, Freddie Mac, and Fannie Mae payment reconciliation and reporting.
• Promptly researches unidentified payments and maintains detailed records.
• Submits payments to Department of Treasury for unclaimed funds and returned claim funds to VA, FHA and USDA. Handles account reconciliations and payments to insurers.
• Ensures daily suspense (unapplied balance) processing per borrower instruction.
• Monitors and reports around corporate advances and gain/loss activity.
• Works with the Accounting and Finance staff to produce accurate and timely financial reports.
• Verifies the prepayment of loans, payoffs, curtailments and other changes that would impact the outstanding balances at the end of a period.
• Reconciles, verifies and balances loan servicing reports against monthly activity, and prior month reports within defined time frames.
• Reviews and responds to all payment related and investor reporting audit findings by determining root cause and creating action plan.
• Trains Loan Servicing staff on agency and investor/insurer procedures and guidelines.
• Provides for the prompt correction of posting errors, prompt payoff quotes and timely compliant resolution.
• Reviews and monitors system reports and activity to ensure departmental goals are being met.
• Makes outgoing calls to customers to attempt to assess reasons for default and make satisfactory arrangements to bring accounts back into a current standing.
• Provides support to assist any function within Loan Servicing as needed.

The requirements listed below are representative of the knowledge, skills, and/or abilities required.

• Bachelor degree in Business, with Finance or Accounting emphasis, preferred.
• Two years of management experience.
• Minimum of one year of mortgage loan servicing experience, with a minimum of 5 years preferred.

The above qualifications express the minimum standards of education and/or experience for this position. Other combinations of education and experience, if evaluated as equivalent, may be taken into consideration.

• Ability to effectively manage staff.
• Ability to handle private, personal information in a confidential manner; maintains a high level of confidentiality.
• Strong knowledge of mortgage accounting, investor reporting, and/or cash management procedures.
• Strong accounting and mathematical skills.
• Ability to accurately prepare, analyze, and report financial data.
• Sets appropriate parameters for productivity, then holds self and others responsible for obtaining those results.
• Strong interpersonal skills; ability to relate well to a diverse population.
• Ability to communicate effectively with subordinates and superiors to ensure productivity and good work habits.
• Excellent verbal and written communication skills.
• Builds and maintains positive relationships with internal and external constituents.
• Strong organizational skills.
• Strong time management skills; uses time effectively; consistently meets deadlines.
• Ability to effectively work both independently and as part of a team.
• Documents regularly, thoroughly, accurately, and completely.
• Exercises good and consistently fair judgment, courtesy, and tact in dealing with the staff and public in giving and obtaining information.
• Ability to exercise good judgment in evaluating complex…