Mortgage Loan Servicing Manager
Comp: Commensurate with Experience
Relocation Package: Yes
Location: Grand Rapids, MI
Employment Type: Full-time
Our client is a growing mortgage company seeking a Loan Servicing Manager that will be responsible for overseeing all aspects of the organization residential loan servicing platform. This professional will possess the confidence to speak to all levels of management and have at minimum of five (5) years of residential mortgage servicing experience.
GENERAL SUMMARY : Directs the work flow and management of the Mortgage Servicing Portfolio and Secondary Market operations. Maintains relationships with investors, insurers and other third party vendors to direct the boarding, file/custodial management, escrow administration, taxes/insurance monitoring, lien release, account maintenance. Ensure the reporting of loan activity and remitting funds to investors, MI companies; payment and escrow administration. Ensures compliance with Federal, State, NCUA regulations as well as company policies and procedures. Responsible for the planning, organizing, staffing and directing the operation of the Mortgage Servicing function.
ESSENTIAL DUTIES AND RESPONSIBILITIES :
- Establishes, directs and manage the functions of the loan servicing department and line of business, managing the functions to add value in pursuit of its business and strategic objectives which include the boarding, file/custodial management, escrow administration, taxes/insurance monitoring, lien release, account maintenance. Directs task completion of Mortgage Servicing/Loan Administration Specialists.
- Develops and modifies department operating procedures. Develops and implements internal controls for the escrow disbursements for taxes and insurance, ARM analysis, annual escrow analysis, PMI cancellation requests and issuance of annual account statements.
- Coach subordinates to takes responsibility to drive performance improvement and personal development. Select employees, prepares and conducts performance appraisals, counsel, trains and develops employees. Initiates recommendations for staffing and equipment requirements for department. Establishes department objectives. Implements goals for staff improvement and success.
- Ensure all Mortgage Servicing elements including Investor Reporting/remittance and Investor Accounting are aligned with secondary market requirements, MI guidelines and regulations while managing the relationship and support overall group success.
- Monitors and enforces adherence to governmental guidelines regarding escrow analysis and schedules the execution of the analysis process.
- Responsible for adhering to investor reporting requirements, setting up custodial accounts and shipping loans. Initiates and coordinates data transmission through automation with investor.
- Review and analyze mortgage servicing system and mainframe system reports to ensure accuracy. Develops new reports as necessary. Initiates and oversees the preparation of servicing specific reports to aid in more efficient use of time and resources.
- Directs the post-closing tracking of releases, security instruments and hazard insurance to ensure files comply with final closing instructions, Investor wholesale agreements, PMI contracts and the Credit Union’s policies and procedures.
- Monitor changes to the secondary market guidelines, implement changes to increase work efficiency. Assist direct reports in resolving closing and title issues. Resolve member complaints and problems as they arise. Recommend training needs and programs for staff.
- Responsible for setting and posting daily pricing, processing rate lock requests, product parameters and price changes and committing loans to Freddie Mac and Fannie Mae.
- Following up with investors to ensure packages are received, notes are certified and loans are funding as scheduled, shipped loans are funded in a timely manner and are being purchased within commitment period.
- Provides assistance and consultation on loan scenarios to Loss Mitigation and Collections on mortgage loan workouts and modifications.
- Accountable for Home Mortgage Disclosure Act (HMDA) and LAR submission
- Performs other related work or projects as assigned.
- The ability to be bonded.
Salary to commensurate with experience. Full-time position/direct hire. Exceptional benefit package to include: Medical, dental, vision, flexible spending allowance, 401(k), and tuition reimbursement.
All Placement Fees paid by Client Company.
Discovery Calls are Confidential.
Only Qualified applicants will be considered.