Loan Accounting Specialist

at WSFS Bank in Wilmington, Delaware, United States

Job Description

Position type: Full-time

Location: Wilmington, DE Schedule: Monday – Friday 8am-5pm Hybrid/Onsite


The Loan Accounting Specialist is responsible for monthly reporting, remitting, and reconciling for investors, including GNMA/FNMA, MBS pools, FHLMC, FHLBB, FNMA whole loans, and Private Investors, and agent serviced loans, according to investor guidelines. The incumbent will manage funding/service release functions and timely and accurate completion of the assigned special projects and reconciliations of investor P&I, T&I, Clearing, and balance sheet accounts. This position performs high volume bank reconciliations, timely balancing and reporting outstanding items to the appropriate department, preparing bulk loan sales, and researching and reporting aging items.


+ Complete timely and accurate reporting, remitting, reconciling for assigned monthly investors. Initiate funds transfers of payments and payoffs.

+ Process service releases on sold loans according to investor guidelines and cut-off schedules.

+ Ensure adherence to the Agency and Private Investor Servicing Agreements, Regulation AB, USAP and other guidelines for timely and accurate reporting, remitting, and reconciling.

+ Review all reconciled Investor Custodial and Clearing Account Bank Statements. Research Bank Statements/Book Balance out-of-balance conditions.

+ Monitor agent service reporting to ensure accurate administration of agent service portfolio, including monthly reporting, payoffs, verification of remittance funds, and monthly ARM adjustment.

+ Complete daily, weekly, and monthly reconcilements accurately and consistently to meet or exceed the department’s designated SLA’s

+ Handles specialized servicing for Investors and the more complex monetary transactions related to non-accruals, participations, charge off processing & REOs.

+ Orchestrate all request for analysis reports and histories for the various Investors to avoid penalties and fines in delayed delivery. Research and resolve any disputed issues.

+ Interact with internal and external customers daily as well as government agencies, insurance agents, attorneys, credit officers, loan officers and vendors. Take ownership of issues and perform detailed analytical review and research to resolve problems, avoid penalties and to provide stellar customer service.

+ Perform other loan servicing duties as required.

Minimum Qualifications:

+ Associates Degree in Accounting or similar discipline; Bachelor’s degree preferred.

+ Minimum of five years of experience in Investor/Loan Servicing.

+ Must have a thorough knowledge and experience with general ledger accounting or bank reconciliations in a loan services discipline.

+ Must have the ability to research open items and troubleshoot accounting and processing issues.

+ Must have knowledge of appropriate government regulations, in several disciplines i.e., consumer, mortgage loan servicing, investor reporting, and compliance.

+ Demonstrated knowledge of Truth in Lending, RESPA, Fair Lending, Fair Credit Reporting Act and pertinent lending guidelines is required.

+ Knowledge of loans services including experience with Fannie Mae and Freddie Mac’s Seller/Servicer system.

+ Practical knowledge and experience with standard accounting principles and practices, and a thorough understanding of general ledger accounting and settlement process from the financial institution’s perspective.

+ Ability to manage all deadlines and priorities effectively; adjust priorities quickly; and demonstrate great attention to detail.

+ Ability to communicate frequently with other departments by assisting with Loan Services Hotline calls.

+ Proficient with Windows and Microsoft software products.

+ Strong oral and written communications skills.


WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at careers@

How do you get to be nearly 200 years old in a world that’s constantly changing? For us, the answer has always been the same: create a team of Associates who are passionate about serving the community, and success will follow. Our Mission and Values serve as essential reminders about who we are and how we do business. WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

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Job Posting: JC221203137

Posted On: Aug 14, 2022

Updated On: Sep 03, 2022