PennyMac Analyst II, Loan Reconciliation in Plano, Texas
Analyst II, Loan Reconciliation
Perform comprehensive loan file reviews once all expected proceeds and settlements have been received.
The purpose of the review is to validate that all required investor, insurer, and internal guidelines were met in a timely manner, and that the claim payment made by the investor and insurer was appropriate based on what PennyMac was entitled to receive.
Oversee the reimbursement or supplemental recovery process to and from the investor, insurer, or other third parties. Prepare regular reports to inform management of the losses experienced in the loan servicing process and may present losses in a monthly
loss reconciliation forum. Ensure that PennyMac’s recovery was maximized through an extensive file review, supplemental claims, or third party recovery (transactional reps and warrants), where applicable.
This position will consult with various business units to identify risk and loss exposure and develop procedural recommendations and process remediation.
Review completed loan files to validate that all required investor, insurer, and/or PennyMac guidelines were met in a timely manner (and therefore entitling PennyMac to financial recovery)
Reconcile financial transactions to ensure maximum recovery for the company
Prepare monthly reports on monetary losses due to curtailments or other servicing deficiencies
Present losses to management in regular established loss forums
Seek third party recovery of losses, as stipulated in the reps and warranties of specific transactions
Negotiate full or partial settlements with MI, Investor, or other third parties, as required
Consult with various business units to identify risk or exposure to losses and develop procedural recommendations
Perform work duties utilizing MS Access or Sequel database, including query design and execution
Perform other related duties as required and assigned
Demonstrate behaviors which are aligned with the organization’s desired culture and values
Skills & Abilities:
Highly motivated individual with strong time management skills
Must be a team player with strong attention to detail and ability to work independently
Proven track record at delivering timely and accurate information in a fast-paced environment
Excellent critical thinking, problem solving, and mathematical skills, and sound judgment
Financial Services and, if possible, mortgage industry experience preferred
Strong business acumen and ability to interface effectively with executive management
Must be highly proficient in Excel and Word
MS Access or SQL experience in database and query functionality preferred
4 Year college degree (Bachelor) or equivalent work experience
Minimum Years of Experience