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Payment Processor Sr.

City: Ewing
State/Territory: US-NJ


Start something good. Empower your career. Become an employee owner at Cenlar.

Employee owners have made Cenlar the nation’s leading mortgage loan subservicer.  Our unique culture is defined by our core values of respect, trust, integrity and care. Company ownership, a promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career. Consider this opportunity to join our team as a Payment Processor Sr.

The Payment Processor is responsible for loan level cash transactions, reconciling funds received to the system of record and depositing checks to Federal Reserve Bank. 


  • Assists the department supervisor/manager in day to day direction, prioritization of staff and workflow
  • Assists the team in the daily operations of department duties
  • Acts as initial escalation point of contact on issues, delays, client inquiries etc
  • Assists in mentoring, coaching, and timely feedback on performance of team
  • Creates and updates departmental procedures and job aids
  • Functions as a department subject matter expert (SME)
  • Keeps supervisor/manager advised of all issues, unresolved escalated items and/or potential risk/exposure issues
  • Manages departmental reports to ensure completion
  • Trains other processors to review and manage system functions and reports
  • Reviews and responds to Fed Wire service message requests
  • Performs payoff reversals and reset loans
  • Works on special projects and any other duties assigned
  • Consistently complies with all company guidelines
  • Responsible for advanced level tasks which may include loan level reversals and reapplications, or reversal of funds to checks and/or wire transfers.Works with the Investor Reporting manager to determine appropriateness of reversal requests
  • Analyzes daily suspense aging report; post suspense funds when applicable according to client and investor rules
  • Researches payments as initiated by internal departments or directly by clients
  • CAP team processing, responsible for special applications of cash transactions for capitalized loans
  • Conducts root cause analysis of payment misapplications, loan level tracking of same to determine source as follows:Borrower error, client error, vendor error, conversion error, Cenlar error, or processor error
  • Completes 1098 adjustments through the cashiering workstation
  • Interprets previous servicer history to facilitate the reversal of payments that were applied by a previous servicer
  • Assists in the preparation of audits by gathering required documentation
  • Performs supervisory tasks for nightly closing of the department during the absence of the Supervisor, including, but not limited to:
  • Ensures that all payment and payoff batches are closed
  • Ensures the check deposit is prepared and transmitted to the Federal Reserve Bank
  • Ensures that all lockbox files are received and processed at the data center
  • Secures of all negotiable instruments


  • High School Diploma or GED required
  • 5+ years of current branch banking experience or related payment processing experience
  • Computer literacy, including but not limited to Windows, Excel, Word, Outlook
  • Proficiency in a 10-key calculator by touch
  • Strong math aptitude essential
  • Demonstrated analytical and problem solving skills
  • Excellent written and verbal communication and interpersonal skills required
  • Ability to work as a team member in a diverse workforce
  • It is critical that you have an understanding of the following:
    • Requirements under the Truth in Lending Act (TILA) specifically:
      • the prohibition of pyramiding late fees,
      • payment processing and the treatment of partial payments,
      • payoff statements, and
      • payoff statements for high cost mortgages.

Total Rewards:

As an employee-owner at Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.

Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.


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