Mortgage Payoff & Reconciliation

Consolidated Analytics, Inc.; Chennai District; On-site; INR 1,800,000 - 2,600,000; Full time

Job summary

Consolidated Analytics, Inc. in Chennai seeks a Real Estate Payoff & Closing Operations SME to oversee mortgage payoff calculations, escrow reconciliations, and lien-release coordination for clear title transfers.

Responsibilities include preparing payoff statements, processing funds, daily cash reconciliations, resolving closing breaks, posting adjustments, and supporting stakeholders across production teams.

Qualifications

• Degree in Accounting, Finance, Real Estate, or equivalent industry experience.
• 5+ years in real estate mortgage servicing or related operations.
• Advanced Excel skills (VLOOKUP, pivot tables) and mortgage systems experience.

Responsibilities

• Prepare and review official payoff statements, tracking per-diem interest, escrow deficits, and fees.
• Process real estate closing funds (wires, ACH, checks) against outstanding statements.
• Initiate lien releases to grant clear titles to buyers.
• Conduct daily cash reconciliations across transaction and ledgers; resolve closing breaks.

Job description

DESCRIPTION

The Real Estate Mortgage Payoff & Reconciliation SME handles the critical final phase of the residential and commercial real estate transaction cycle. This position ensures the flawless calculation and processing of real estate mortgage payoffs while executing daily transactional reconciliations between external closing escrow agents and internal accounting ledgers. The role acts as the primary financial operational bridge during property sales and refinances, reconciling wires, mitigating escrow breaks, and coordinating lien releases to secure clear title transfers for borrowers.

RESPONSIBILITIES

Real Estate Payoff & Closing Operations

• Prepare and review official payoff statements for real estate loans, tracking per-diem interest, escrow deficits, recording fees, and property tax/insurance advances.
• Process incoming real estate closing funds (wires, ACH, certified checks) received from title insurance companies and closing attorneys, verifying them against outstanding statements.
• Initiate the lien release process by preparing and submitting satisfaction of mortgage documents to county recorders to grant clear property titles to buyers.
• Administer final escrow account closing procedures, including checking for active real estate tax/homeowners insurance payments, calculating surpluses, and issuing timely refunds.

Transactional Reconciliation & Risk Control

• Execute daily cash reconciliations across real estate transaction clearing accounts, mortgage suspense accounts, and general ledgers.
• Research and resolve closing breaks, such as payoff shortfalls or overages originating from real estate settlement statements
• Audit ledger lines to trace unapplied closing funds, ensuring misdirected funds are promptly identified, coded, and matched.
• Post adjustments and journal entries to correct posting errors in principal, interest, and real estate escrow accounts in line with regulatory accounting standards.
• Partner with title closers and escrow officers to secure outstanding balances or return excess funds resulting from closing table timeline shifts.

Client & Stakeholder Support

• Respond to internal quality inquiries and escalations.
• Participate in client calibration sessions when required.
• Ensure consistent application of client-specific requirements.
• Maintain strong working relationships with production teams and stakeholders.

EDUCATIONAL QUALIFICATIONS & SKILLS

• Education: Degree in Accounting, Finance, Real Estate Business, or equivalent industry experience.
• Experience: 5+ years in real estate mortgage servicing , Real Estate Payoff & Closing Operations, Transactional Reconciliation & Risk Control, real estate accounting, or title/escrow closing operations .
• Technical Skills: Advanced Microsoft Excel capabilities (VLOOKUPs, pivot tables, data sorting) and experience with mortgage management systems
• Competencies: High mathematical acuity, strict commitment to transaction security, and strong problem-solving skills for balancing ledger variances.
• Excellent communication skills (Written and Spoken)