What are the responsibilities and job description for the Payoff Analyst position at Merchants Capital?
Job Type
Full-time
Description
The Payoff Analyst manages the payoff process associated with GNMA, FNMA, FHLMC, and portfolio loans within the commercial/multifamily real estate finance industry. This position performs routine accounting and legal document review tasks as a part of maintaining loan compliance standards.
The ideal candidate will demonstrate excellent math and Excel skills and enjoy applying those skills in a commercial finance environment with a desire to grow in expertise within the role and department. A successful Payoff Analyst places a high priority on accuracy and attention to detail in adherence with complex lending regulations. They will also be able to manage multiple deadlines and priorities.
Requirements
With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.
Full-time
Description
The Payoff Analyst manages the payoff process associated with GNMA, FNMA, FHLMC, and portfolio loans within the commercial/multifamily real estate finance industry. This position performs routine accounting and legal document review tasks as a part of maintaining loan compliance standards.
The ideal candidate will demonstrate excellent math and Excel skills and enjoy applying those skills in a commercial finance environment with a desire to grow in expertise within the role and department. A successful Payoff Analyst places a high priority on accuracy and attention to detail in adherence with complex lending regulations. They will also be able to manage multiple deadlines and priorities.
Requirements
- Track incoming payoff requests.
- Manage payoff approval process and obtain approval from investors and agencies.
- Generate and/or approve payoff statements.
- Work with internal and external parties to record mortgage releases and UCC terminations after payoff.
- Assist with audit processes and support department audit procedures.
- Manage loan document collection and/or releases.
- Ensure escrows are released to borrower or transferred as required.
- Manage internal loan document and folder maintenance.
- Minimum two years of mortgage servicing experience required with commercial/multi-family mortgage experience preferred.
- Working knowledge of Precision LM mortgage servicing software is a plus.
- Knowledge of Ginnie Mae, Fannie Mae, and Freddie Mac reporting requirements and regulations.
- Knowledge and experience with mortgage releases and terminations a plus.
- Proficiency using MS Word, and Outlook along with an extensive knowledge in Excel.
- Excellent Math skills with accuracy and strong attention to detail required.
- Strong organizational skills. Able to work under and meet strict time deadlines.
- Strong verbal and written communication skills needed.
With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.