Statement processor vs payment processor

Differences between statement processor and payment processor duties and responsibilities

Statement processor example responsibilities.

• Manage the ordering of homeowner's association estoppel letters for payoffs; as well as surveys and clear lien searches.
• Sort incoming USPS and interoffice mail.
• Respond to mortgage lenders and taxing agency jurisdictions by utilizing effective verbal and written communication in a prompt and accurate manner.
• Verify the accuracy of the loan documents to the prepared HUD.
• Recognize for being proficient in thinking outside the box for satisfactory documentation to clear underwriting conditions and RESPA regulations.

Payment processor example responsibilities.

• Manage and review all incoming discounts and electronic contractual adjustments for accuracy per the negotiated Medicaid and Medicare contracts ;.
• Maintain daily transactions for customer payments and various bank accounts using Quickbooks to track transactions.
• Prepare and print all reports for EDI processing.
• Maintain client customer confidentiality and HIPAA regulations with all data handling and transfers.
• Uphold and reinforce compliance with hospital policies and federal regulations such as HIPAA.
• Investigate and take corrective action regarding invoices reject by system or through EDI.
Show more