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Analyst, Post Funding
PennyMac
Westlake Village, CA, United States
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Job Description
Integral part of Post Funding/Accounting Department responsible to help adjust/correct any post funding errors in order to maintain accurate and sellable residential mortgage loans. Further, analyst will monitor for Government Insurance, and trailing docs such as MIC, Recorded Deed of Trust, Title Policy and Final HUD-1. Required to continuously review for and identify any errors within the framework of the Correspondent’s closed loans. Must be proficient with policies, procedures, tools and systems changes to comply with acceptable loan purchase cycle times. Additionally, employee must ensure zero errors/defects after the purchase of these closed loans. Employee must provide excellent customer service to Seller and internal departments.
Job Responsibilities
• Post funding Audit/Accounting
• Adheres to strict PennyMac policies and procedures in order to cost-effectively assess the quality of the loan files following pre-determined post-funding, accounting and collateral requirements.
• Verify all required documentation, ie compliance, credit, collateral, capacity documentation, is in the submitted loan file.
• Collateral Management
• Interacts with Funding/Purchasing Manager, external clients and Document Custodian to ensure timely delivery and review of the collateral documents as to ascertain proper and timely transfer of collateral from Sellers to PennyMac after any corrections/adjustments have been made.
• Servicing Liaison
• Acts as the Liaison between the Post-funding Department, Accounting and Servicing department in order to stay current with data requirement s for the file documents. This will allow for the servicing department to board each loan in an efficient and effective manner.
• Adherence to the policies, procedures and processes to ensure a successful transaction of outstanding document issues to the Post Closing department. This will enable the Post-Closing Department to efficiently manage the collection of the outstanding documents from company’s external clients.
• Continually provide outstanding customer service to both Sellers and coworkers.
• Compliance Management
• Interacts with the Funding/Purchasing Manager, Post-Funding and PennyMac’s Compliance Department to stay current with various Federal, State and local laws.
• Adheres to company procedures when reviewing loan files to maintain compliance of all relevant rules and regulations
• Cash Management
• Interacts with the Funding/Purchasing Manager, Post-funding, PennyMac’s Treasury Department, PennyMac’s Accounting group and Seller’s Warehouse Lender(s) to ensure that funds are wired to the authorized bank accounts.
• Coordinates with the Funding/Purchasing Manager, the Treasury Department and Accounting Department to ensure timely availability of cash to purchase loans.
• Coordinates with the Funding/Purchasing Manager and Accounting Department to deliver data necessary for accurate accounting of purchased loans.
• Coordinates Post-Funding adjustment functions with the Funding/Purchasing Manager, the Treasury Department, Accounting and the Servicing Department to ensure accurate recordation of post-funding adjustments.
• Secondary Marketing Liaison
• Reviews loan corrections/adjustments with Post-Funding, Secondary Marketing and the Funding/Purchasing Manager to ensure all loans are purchased correctly and in accordance with PennyMac’s rate lock and commitment policies.
• Actively manages an assigned pipeline to verify accurate accounting figures for the maintenance of acceptable funding/purchasing cycle times while maximizing PennyMac’s interest spread income.
• Manages the accuracy and completeness of the adjusted/corrected data and documents in order for the shipping department to efficiently provide acceptable turnover of mortgage loans.
• Manages team and time effectively to manage the ebb and flow of the monthly funding cycle.
• Complete special assignments necessary to support business strategy.
• Demonstrate behaviors which are aligned with the organization’s desired culture and values.
Preferred Qualifications
Skills & Abilities:
• Bachelor’s Degree or higher in Business Administration, Finance or related field - Preferably in Accounting.
• Minimum of 5 years of mortgage funding experience
• Contemporary knowledge of accounting, the mortgage industry and operational practices
• Functional understanding of applicable Federal, state and local lending regulations.
• Demonstrates expertise in a various accounting and mortgage concepts, practices & procedures.
• Relies on experience & judgment to plan and accomplish goals.
• Knowledge of basic computer software programs, including Internet, Windows and Microsoft Office Suite.