Corp Advance Analyst Ii - Trenton, United States - Freedom Mortgage

Freedom Mortgage

Verified Company

Trenton, United States

2 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

Summary:

The Corp Advance Analyst II position is responsible for reconciliation of the recoverable corporate advances on all Bulk and Flow Mortgage Servicing Loan transfers from various Mortgage Banking Institutions.

This position will also ensure that the reconciliation process complies with contractual obligations of the sellers and purchasers of mortgages, and complies with FMC policies as well as all regulatory guidelines, to include but not limited to, RESPA, Investor Guidelines, CFPB and applicable law.

This position requires a high level of coordination with key internal Default, Loss Mitigation, Cash Operations and Corporate Accounting business partners.

Essential Job Functions:

Ability to comprehend terms of the Purchase and Sale Agreement (PSA), and Letters of Intent (LOI) relative to borrower recoverable, investor recoverable and third party recoverable corporate advances.
Perform prereconciliation review of data and reports from various servicing systems, and convert the data to formats that can be manipulated for the reconciliation process.
Perform complex analysis of corporate advance data to ensure the recoverability based on FMC policies and all regulatory guidelines. Reconcile all recoverable corporate advances 1) from seller to what FMC agreed to board to FMC's servicing system, and 2) reconcile all corporate advances from FMC's servicing system to what purchaser agreed to reimburse.
Manage all monetary transactions to allow 1) boarding of recoverable corporate advances to FMC servicing system, and payment to seller on agreed reimbursement, and 2) removal of corporate advances from FMC servicing system and recovery from purchaser on agreed reimbursement.
Perform an invoice reconciliation to 1) reconcile all invoices provided by sellers to recoverable corporate advances boarded to FMC's servicing system, and 2) provide invoices to purchasers to ensure recovery of all recoverable corporate advances removed from FMC's servicing system.
Facilitate conference calls with Sellers and purchasers to discuss challenges in the reconciliation process as well as negotiate settlement of disagreements in the interpretation of recoverability of corporate advances based on PSA, FMC policies and regulatory guidelines.
Create business rules to provide to IT Support in order for them to have clear and concise instructions for effective and efficient implementation of automated processes.
Implement policies and procedures that follow all rules and regulations, to include but not limited to RESPA, Investor, CFPB, applicable state law and FMC internal policies.
Ability to work in an office environment as well as remote where the need arises.
Advanced Excel to include, but not limited to, vlookup, pivot tables. logistics, cell formulation, math capabilities, data merge from one spreadsheet to another spreadsheet, etc.
Maintain regular and punctual attendance.

Other Related Duties:

Performs other related duties as assigned.

Supervisory Responsibilities:

This position is an individual contributor with no direct reports but may provide guidance, leadership or training to others

Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed are representative of the knowledge, skill, and/or ability required.

Advanced Excel to include, but not limited to, vlookup, pivot tables. logistics, cell formulation, math capabilities, data merge from one spreadsheet to another spreadsheet, etc.
Excellent analytical capabilities.
Ability to communicate effectively orally and in writing. Ability to present the information in a concise manner and accurately to all levels of management both internally and externally. Ability to present information for the benefit of training others.
Ability to calculate and solve for mathematical equations, and an understanding of accounting functions.
Sagent Servicing System and/or MSP (BlackKnight Servicing System).
Imaging systems, preferred.

Education and/or Experience:

Associate Degree or five (5) years experience in an advanced business analytics position. Two (2) to three (3) years experience in an accounting position and/or cash management position.
Two (2) to four (4) years related work experience.

Certificates, Licenses, Registrations:

None required.

Work Complexity:

Problems and issues faced are general, and may require understanding of broader set of issues but typically are not complex.

May require familiarity with the financial/mortgage (or job-specific) industry. Problems require understanding of other job areas. Problems are typically solved through drawing from prior experiences, with analysis of the issue.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

Reasonable accommodations may