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Draft Return Processor in Lake Zurich, IL at Dovenmuehle

Date Posted: 5/17/2018

Job Snapshot

Job Description


Responsible for timely and accurate processing of NSF and check returns and other requests relating to ACH/EFT transactions. Assist in timely and accurate setup, maintenance and deletion of draft headers.

Responsibilities include, but are not limited to, the following:

  • Assists in Processing set ups, changes (Client or mortgagor requested) and deletes for ACH pre-authorized debits (a/k/a draft payments) on the LPS system, and sends confirmation letter to mortgagor per RESPA guidelines. Contacts mortgagor, as necessary, to confirm drafting information.
  • Reviews accuracy of drafting information downloaded to LPS system. Verifies ACH forms are received.
  • Retrieves ACH data (i.e., NOC Report) from Bank of America, processes any necessary changes or deletes in LPS system, and sends confirmation letter to mortgagor per RESPA guidelines.
  • Retrieves daily cash management reports from Bank of America and distributes to appropriate DMI personnel.
  • Processes returns (check and/or ACH) on active loans (identifies reason for return item; researches applicable LPS transaction history and processes reversal transaction on LPS system; adds notes to LPS system and logs transaction into spreadsheet; copies front and back of returned checks; sends mortgagor a notice of return; and notifies Collection Dept. of return item).
  • Processes prior servicer returns (confirms accuracy of prior service claim, processes reversal transaction on LPS; forwards funds to new servicer, adds notes to LPS system and logs transaction into spreadsheet).
  • Processes returns on PIF loans (reverse all available funds from escrow to reduce or fully recover return amount; halt release process; request Investor Accounting Dept. approval to re-load outstanding return amount as unpaid principal balance and process if approval received; initiate collection activity for unpaid amount; and processes recovered monies to reduce the outstanding receivable or UPB).
  • Processes returns on Service Released loans (initiate demand request for funds from new servicer; bill Client for outstanding return amount; initiates follow-up collection activity on any unrecovered items over 30-days; processes recovered monies to reduce the outstanding Client receivable).
  • Responsible for researching and clearing all outstanding bank reconciliation items on NSF Clearing bank account.
  • Initiates wire transfers from/to NSF Clearing Bank Account.
  • Review Task Tracking for timely processing of ACH requests requiring a written response to the mortgagor per RESPA guidelines (RESDFT and RSPDFT tasks).
  • Responds to Clients, mortgagors, and DMI personnel requests for information and explanations relating to returns and/or drafting.
  • Monitor faxes and other information received to ensure timely processing of ACH payments and other information received.
  • Assist Cash Processing Department as needed (i.e., payoff and payment processing)

Job Requirements

Job requirements:

  • 1 year Data Entry and/or Cash Balancing experience
  • Knowledge/Experience in return processing, Microsoft Office, LPS MSP system ACH and EFT Functions, payment processing
  • High School diploma or equivalent
  • Good communication skills. Must be organized, multi-task oriented and have the ability to prioritize duties. Requires good problem solving ability, resourcefulness, and attention to detail and follow through