Mortgage Loan Payments Specialist

Job Description

Job Description

We are looking for a detail-oriented Mortgage Loan Payments Specialist to join a servicing team in the northwestern suburbs of Chicago, Illinois. In this role, you will help ensure borrower payments are handled accurately, exceptions are resolved promptly, and daily cash operations remain balanced and well-documented. This position is ideal for someone who thrives in a fast-paced financial operations environment and is committed to supporting reliable loan servicing and a strong customer experience.

Responsibilities:

• Manage incoming payment-related mail by sorting correspondence and routing items to the appropriate workflow queues.

• Apply borrower funds received through lockbox activity, mailed checks, wires, online channels, and other approved payment methods with a high degree of accuracy.

• Prepare check images and deposits in accordance with established cash handling and processing standards.

• Track daily operational deadlines, incoming files, payment requests, and assigned work items to keep processing on schedule.

• Complete standard payoff activity and related cashiering transactions while following servicing guidelines.

• Resolve returned payments, reversals, posting corrections, and other account adjustments tied to payment processing.

• Investigate rejected lockbox items, unresolved transactions, exception reporting, and payment discrepancies to support timely resolution.

• Perform daily balancing and reconciliation of receipts, researching and correcting variances to maintain accurate records.

• Monitor shared inboxes and respond to payment inquiries, account maintenance requests, and other operational support needs.

• Contribute to procedure updates, testing efforts, quality review activities, and ongoing process improvement initiatives.

• At least 1 year of experience in mortgage servicing, cashiering, payment processing, banking operations, accounting support, financial operations, or a related service-focused environment.
• Previous exposure to mortgage payment processing, loan administration, lockbox activity, payoff handling, or wire transactions.
• High school diploma or equivalent required; additional college coursework or an associate degree is preferred.
• Ability to reconcile transactions, balance daily activity, and identify discrepancies with strong attention to detail.
• Proficiency with Microsoft Outlook, Word, and Excel in an office setting.
• Strong organizational skills with the ability to manage multiple tasks and meet service deadlines consistently.
• Experience with mortgage servicing platforms or cashiering systems is preferred.
• Bilingual English/Spanish skills are a plus.