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Payoff Analyst in Lake Zurich, IL at Dovenmuehle

Date Posted: 5/17/2018

Job Snapshot

Job Description


Responsible for contacting title companies daily to collect for shortages from discrepancies on payoff calculations.
Responsible for contacting borrowers for discrepancies on payoffs to see if funds can be collected timely to avoid further der diem interest from being added to the payoff amounts.
Work with internal departments to resolve any payoff questions or issues.

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

  • Review short payoffs the same day and contact title companies by telephone to collect the shortage from discrepancies on the payoff calculations.
  • Contact customers by telephone for collecting shortages from discrepancies on payoff calculations. (Collection experience)
  • Monitor daily payoffs where overages occur and sign off that these are true overages due back to the customer.
  • Escalate overages over $5,000.00 to supervisor sign off. Provide backup for escalation.
  • Verify reason for payoff shortage. If disbursement was recently made, try to stop the disbursement by contacting Escrow Department.
  • Verify all payoff wires from the previous day have been processed or logged if they are short so they can be monitored.
  • Completes project-oriented tasks that resolve outstanding payoff issues.
  • Assist in researching suspense items from BPls and assist with tasks to provide sufficient information to Cashiering supervisor in order to provide appropriate directions to processors.
  • Respond to inquiries from other departments, clients, and auditors relating to payoff applications and functions.
  • Represent Cashiering within the organization and serve as a resource to other departments regarding payoff inquiries.
  • Performs all other responsibilities and duties deemed necessary

Job Requirements

Job requirements:

  • 1-2 years of mortgage servicing experience
  • Detail oriented
  • Experience in researching and resolving issues using analytical skills and problem solving skills
  • Intermediate computer skills – accurate data entry