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Payoff Processor I

City: Ewing
State/Territory: US-NJ


Who is Cenlar?


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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 Payoff Processor l.



  • Analyze mortgage payments received from borrowers or third parties; determine whether payment is sufficient to pay off the mortgage loan balance; and apply payoff where applicable.

  • Deposit checks to the Federal Reserve Bank.

  • Accurate input of data to generate payoff statements in a timely manner, according to requestor’s instructions, following all pertinent and relative client/investor rules.

  • Post and reconcile payoff transactions received from a variety of sources (checks, wires, branch feeds), as instructed by internal departments.

  • Collaborate with attorneys, title companies and borrowers to resolve payoffs that are received short funds to pay off the loan.

  • Manage daily suspense activity from system reports for paid-in-full loans.

  • Clear outstanding debits and credits in payment clearing account.

  • Coordinate the identification and transfer of payoff checks and wires to other servicers for deconverted loans.

  • Facilitate and collaborate with other departments for receipt of payoff proceeds for loans in default; post funds per default instructions.

  • Train other processors to review and manage system reports to advise borrowers of low balance and maturing loans.

  • Balance system activity and deposit checks via electronic scanners, reconciling check deposit to system totals.

  • Assist in the opening and dissemination of mail.

  • Meet department standards for processing payoffs timely and accurately.

  • Consistently comply with all company guidelines.

  • Special projects and any other duties assigned to facilitate the payment process.

  • Other duties as assigned.



  • BS degree in Business, Accounting or Finance preferred

  • 1 - 2 years current, related cash experience in all phases of payment processing within mortgage servicing

  • Data processing experience or demonstrated proficiency in data entry

  • Computer literacy including, but not limited to, Windows, Excel, Word, Outlook, spreadsheet creation and applications

  • Strong math aptitude essential

  • Excellent verbal and written communication skills

  • Detail oriented

  • Demonstrate initiative and a strong desire for success

  • Excellent follow-up skills with ability to handle mortgagor issues as they relate to the department

  • Ability to work independently within the guidelines of company policies and procedures

  • Demonstrated ability to work as a team member in a diverse workforce


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 .


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