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Payoff Jobs in California (NOW HIRING)

City National Bank

Payoff/Collateral Specialist

Los Angeles, CA · On-site

$20.28 - $30.42/hr

  • Medical

  • Dental

  • Vision

  • Retirement

  • PTO

PAYOFF/COLLATERAL SPECIALIST WHAT IS THE OPPORTUNITY? This position is responsible for reviewing notes and related loan documents to be able to accurately represent terms in payoff statements and ...

CHAMPION DODGE LLC

INVENTORY CLERK

Downey, CA · On-site

$17 - $18/hr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Make payoff checks for trade-in vehicles * Verify CIT paid for customers, prior to mailing payoff-check. * Prepares journal entries for adjustments made to the schedules, and submits to management ...

CHAMPION DODGE LLC

INVENTORY CLERK

Downey, CA · On-site

$17 - $18/hr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Make payoff checks for trade-in vehicles * Verify CIT paid for customers, prior to mailing payoff-check. * Prepares journal entries for adjustments made to the schedules, and submits to management ...

Champion Dodge Chrysler Jeep Ram

INVENTORY CLERK

Downey, CA · On-site

$17 - $18/hr

  • Medical

  • Dental

  • Vision

  • Life

  • Retirement

  • PTO

Make payoff checks for trade-in vehicles * Verify CIT paid for customers, prior to mailing payoff-check. * Prepares journal entries for adjustments made to the schedules, and submits to management ...

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All JobsPayoff JobsPayoff Jobs in California

Payoff information

See California salary details

$54.3K

$72.9K

$85.9K

How much do payoff jobs pay per year?

As of Aug 13, 2026, the average yearly pay for payoff in California is $72,929.00, according to ZipRecruiter salary data. Most workers in this role earn between $68,600.00 and $76,500.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a payoff specialist?

To thrive as a Payoff Specialist, you need a strong understanding of loan processing, financial documentation, and attention to detail, typically supported by experience in banking or mortgage operations. Familiarity with loan servicing software, payment processing systems, and occasionally certification in mortgage processing tools is highly beneficial. Excellent organizational skills, effective communication, and problem-solving abilities help you stand out in this role. These skills are crucial for ensuring the accuracy and timeliness of loan payoffs, which directly impacts customer satisfaction and regulatory compliance.

What is a payoff specialist?

Payoff Specialists are professionals who manage the process of closing out loans by calculating the remaining balance, ensuring all necessary documentation is completed, and coordinating with borrowers and financial institutions to finalize payments. They often work in banking, mortgage, or auto finance industries and play a critical role in ensuring loans are paid off accurately and efficiently. Their responsibilities may also include verifying payoff amounts, preparing payoff statements, and processing lien releases once loans are settled.

What is the difference between Payoff vs Loan Officer?

AspectPayoffLoan Officer
CredentialsTypically requires financial or mortgage licensing, certifications varyRequires mortgage or financial licenses, certifications like NMLS
Work EnvironmentFinancial institutions, mortgage companies, online platformsBanks, credit unions, mortgage companies, retail settings
Industry UsageUsed in mortgage and loan repayment contextsUsed in loan origination and approval processes

Payoff and Loan Officer roles often overlap in the mortgage and lending industry. While Payoff specialists focus on loan repayment strategies and refinancing options, Loan Officers handle the application and approval process for new loans. Both require financial licensing and work within similar environments, but their primary functions differ—Payoff emphasizes managing existing loans, whereas Loan Officers originate new loans.

What are some common challenges faced by professionals working in payoff departments within finance or mortgage companies?

Professionals in payoff departments often manage time-sensitive requests for loan payoffs, which requires attention to detail and the ability to work efficiently under pressure. A frequent challenge is coordinating with multiple stakeholders, such as borrowers, lenders, and title companies, to ensure accurate and timely processing of payoff statements. They must also stay updated on regulatory requirements and internal policies, as errors can lead to costly delays. Strong communication and organizational skills are essential to succeed in this collaborative, fast-paced environment.
What are the most commonly searched types of Payoff jobs in California? The most popular types of Payoff jobs in California are:
What are popular job titles related to Payoff jobs in California? For Payoff jobs in California, the most frequently searched job titles are:
What job categories do people searching Payoff jobs in California look for? The top searched job categories for Payoff jobs in California are:
Payoff jobs near you
Infographic showing various Payoff job openings in California as of August 2026, with employment types broken down into 91% Full Time, 6% Part Time, 2% Temporary, and 1% Contract. Highlights an 92% Physical, 4% Hybrid, and 4% Remote job distribution, with an average salary of $72,929 per year, or $35.1 per hour.

Payoff/Collateral Specialist

City National Bank

Los Angeles, CA • On-site

$20.28 - $30.42/hr

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 25 days ago

Job description

PAYOFF/COLLATERAL SPECIALIST
WHAT IS THE OPPORTUNITY?
This position is responsible for reviewing notes and related loan documents to be able to accurately represent terms in payoff statements and demand letters and real estate reconveyance at loan payoff. Also reviewing all collateral items to ensure adherence to established Bank and department policiesResponsibilities include reviewing, investigating and clearing items on the collateral exception reports, ensuring proper control and maintenance of collateral entries to the loan collateral system, investigating and researching unresolved collateral discrepancies and processing paid loan paperwork for units assigned. investigating and clearing items on the paid collateral exception reports.
WHAT WILL YOU DO?
  • Reviews loan note and related loan documents prepares payoff statements and demands for title and escrow companies as well as borrower.
  • Interprets terms of notes relating to prepayment penalties and accurately calculates and represents same in payoff statements.
  • Releases collateral upon satisfaction of debt or receipt of appropriate levels of loan authority. Prepares and submits reconveyance documents for filing within regulation time period.
  • Researches and follows up on exception items relating to paid loans. Ensures that lenders and various related departments are notified of pending items and follows up to clear up exceptions.
  • Ensures proper control and maintenance of collateral files as required by Bank policy to facilitate examination by Bank Auditors, National Bank Examiners and Loan Review personnel.
  • Investigates and researches unresolved collateral discrepancies. Consulting with department supervisors and manager to resolve problems or errors relating to collateral such as improper securities provided as collateral, incomplete collateral provided, etc. May contact other departments such as Securities Custody, New Accounts, etc. to resolve pending problems or errors.
  • Processes paid loans, reviews files, forwards appropriate documents to borrower as paid and archives the file.
  • Maintains a proactive commitment to established bank programs, such as Community Reinvestment Act (CRA) and Affirmative Action.
  • Complies fully with all Bank Operational and Credit policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).

WHAT DO YOU NEED TO SUCCEED?
Required Qualifications*
  • Minimum of two years working with all types of collateral on commercial loans
  • Minimum of two years working with commercial loan documentation
  • Minimum of two years of experience in identifying and handling brokerage account statements with stocks, cash and bonds held as collateral

Additional Qualifications
  • Knowledge of commercial loan documentation required.
  • Experience in identifying and handling brokerage account statements with stocks, cash and bonds held as collateral as required.
  • Knowledge of Depositary Transfer Company operations helpful.
  • Working knowledge of Microsoft Word/Excel would be required.
  • Ability to interact effectively with all levels of Bank personnel, departments and customers.
  • Proficient P.C. skills.
  • Excellent verbal/written communication skills required.

WHAT'S IN IT FOR YOU?
Compensation
Starting base salary: $20.28 - $30.42 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:
  • Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
  • Generous 401(k) company matching contribution
  • Career Development through Tuition Reimbursement and other internal upskilling and training resources
  • Valued Time Away benefits including vacation, sick and volunteer time
  • Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
  • Career Mobility support from a dedicated recruitment team
  • Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.
ABOUT US
Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.
Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.

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