Experience:
5+ years of experience
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Employment Type:
Full time
Posted:
2/7/2020
Job Category:
Accounting
Default Accounting Specialist
(This job is no longer available)
Cenlar | Ewing, NJ
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Job Description

Who is Cenlar?

You are.

Employee-owners have made Cenlar one of the nation's largest mortgage subservicers. We have achieved success by empowering people with company ownership, real programs that provide avenues for advancement, and a great atmosphere that makes everyone look forward to the workday. Get your share of our success by considering the opportunity to join our team as a Default Accounting Specialist.

Job Summary:

The position is responsible for ensuring compliance with CFPB/ private investor/insurer/ GSE and Cenlar guidelines and time frames. Duties could include the application of Short Sales Settlements/Claim funds wires and manual checks, Charge offs, Re-class, Write Downs, REO balance removal, GNMA/FHLMB Pool liquidation, Third Party Sales proceed application and reconciliation, Third Party Vendor bill back processing and reconciliation, Vendor monthly incentive fee payment, HAMP Incentive fee application and reconciliation, Hardest Hit Fund application and reconciliation to avoid monetary losses and audit finding. The scope of decision-making authority is limited to documented investor/insurer guidelines and management directed procedures.

The position will train new staff members, prepare monthly reports, work directly with Default Accounting Management to develop and maintain Cenlar's Quality Control plan with the objective of identifying internal control weaknesses as they relate to applicable standards and other duties assigned.

Responsibilities:

* Timely application of default accounting processes, including:
* Client/FHA/VA/GSE short sale settlement/claim fund wires and manual checks.


* FHA/VA/MI claim fund applications.


* GSE claim fund and incentive fee applications; GSE and Federal Home Loan Banks (FHLB) pool liquidation/buy-out or principal curtailment process.


* Home Affordable Modification Program (HAMP) incentive fee applications and reconciliation.


* Hardest Hit Fund applications and reconciliation; tracking and removal of balances on paid-in-full or zero balance loans with outstanding balances.


* Third party sales checks, wire applications, proceeds applications and reconciliation: third party vendor bill back processing and reconciliation; vendor monthly incentive fee payment.


* Charge-offs, re-classes and write-downs.


* REO balance removal.


* Client investor/man code and zone code changes.




* Ensure compliance with Consumer Financial Protection Bureau (CFPB), investor, insurer, GSE and company guidelines and timeframes, to avoid monetary losses and audit findings.
* Work with department management to develop and maintain quality control plan, with the objective of identifying internal control weaknesses as they relate to applicable standards.


* Prepare monthly reports and update management score card report.


* Process and pay manual invoices.


* Train new staff members.


* Complete assigned tasks in accordance with departmental standard for processing time and accuracy.


* Handle projects and special assignments relating to default accounting, as directed.


* Other duties as assigned.

Qualifications:


* College degree or equivalent work experience in default administration


* 5+ years combined financial services, mortgage servicing or mortgage banking experience


* 3+ years accounting or similar experience preferred


* Default experience with compliance, regulatory authorities, FHA, VA and GSE guidelines preferred


* Mortgage servicing system (MSP/Black Knight) experience preferred


* Strong communication, analytical and math skills


* Excellent organizational skills


* Experience working independently



Total Rewards:

Cenlar FSB offers outstanding benefits which may include paid medical/dental/life insurance, 401k, employee ownership, tuition assistance, a supportive work environment, and genuine opportunities for advancement. Cenlar is a Drug Free Workplace and an Equal Employment Opportunity/Affirmative Action Employer -- M/F/D/V/SO.

Visit www.cenlar.com for more details.

Please apply online.

About Cenlar

Cenlar currently manages over 60 business partners, with portfolios in all 50 states, servicing approximately 300,000 loans annually. Michael W. Young, president and CEO, said, "Cenlar is gratified that Fitch's review confirmed that Cenlar has developed a noteworthy servicing platform through an experienced management team and automated technology at the core of our production." Responding to the need for additional programs to ensure future growth, Cenlar has added interim servicing programs to its private label offerings. The Fitch report indicates that Cenlar projects growth in permanent and interim servicing business lines of $350 million per month in 2004. The Fitch review reflected Cenlar's in-place default management practices and robust internal control environment, noting a demonstrated corporate environment dedicated to training and retaining quality employees. The Fitch review noted that Cenlar's effective loan administration procedures included a proprietary web-based system, centralized research and exception processing unit, consistently met performance standards and well-documented disaster recovery and business continuity plans. Cenlar has expanded its service offerings, interim servicing, and aggregator business, resulting in capital ratings well above regulatory standards and increased profitability. "We are determined to demonstrate our commitment to providing outstanding service to our clients with value-added products delivered by an established, knowledgeable staff," Mr. Young said. More information on Cenlar FSB can be found on the company's website at www.cenlar.com.