Staff Loan Accountant

Job Description

Staff Accountant | loanDepot

The Tone:
This is a full-time hybrid role at loanDepot, located in Irvine, CA, requiring two days per week in the office. loanDepot is a prominent digital commerce company that has transformed the mortgage industry with a digital-first approach, making home ownership more accessible. The Staff Accountant plays a foundational role within the Loan Accounting team by accurately recording, reconciling, and analyzing critical loan-related transactions. This position directly contributes to maintaining accurate financial reporting and ensuring strict adherence to trust account regulations, providing vital, timely financial insights to both Operations and Accounting leadership.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: Hybrid Irvine, CA
• Pay: $55000–$75504 yearly
• Team: Loan Accounting, reporting to Accounting leadership
• Mission: Ensure accurate financial reporting and compliance for loan-related transactions.
• Tech Stack: General ledger, Excel

What You’ll Actually Do
• Record Keeping: Review, accurately record, and meticulously analyze various loan accounting transactions, encompassing loan fundings, borrower payoffs, and the processing of borrower refunds.
• Financial Close Support: Maintain comprehensive loan accounting schedules and actively support the monthly close process, which includes the precise preparation and posting of journal entries to the general ledger.
• Warehouse Line Management: Systematically record all warehouse line activity, such as advances, paydowns, and interest charges, while diligently reconciling warehouse balances to lender statements and promptly researching and resolving any identified differences.
• Account Reconciliation: Reconcile balance sheet and trust accounts thoroughly, ensuring the timely research and resolution of all reconciling items to maintain financial integrity.
• Regulatory Compliance: Ensure that all loan-related activity consistently follows trust account rules, internal company policies, and adheres strictly to Generally Accepted Accounting Principles (GAAP).
• Operational Collaboration: Work closely with Operations so that borrower refunds and other open items are resolved accurately and within established timeframes.
• Reporting & Analysis: Extract data from the general ledger and related systems to prepare detailed reports and conduct spreadsheet analyses for management review.
• Process Improvement: Identify opportunities and assist in implementing process improvements aimed at increasing work efficiency and strengthening internal controls.

The Must-Haves
• Background: Bachelor’s degree in Accounting, Finance, or a closely related field, providing a foundational understanding of financial principles.
• Experience: 1–3 years of practical accounting experience, demonstrating proficiency in core accounting functions.
• Skills: Working knowledge of Generally Accepted Accounting Principles (GAAP) and proven ability in account reconciliations; strong Excel skills, including data manipulation and analysis; a detail-oriented and organized approach; strong analytical capabilities for interpreting transaction data; excellent communication skills for collaborating with various teams; and the ability to quickly learn new accounting systems.
• Bonus: Prior experience specifically within mortgage or loan accounting is preferred.