The Acquisition and Bulk Sale Manager would coordinate all Acquisitions, Nonperforming Asset (NPA) Sales, and Loan Sold Servicing Released (LSSR) activities. This position will be responsible for overall coordination of activities within Servicing and Post Closing.
- PRINCIPLE DUTIES AND RESPONSIBILITIES:Develop and then manage each project plan for each acquisition or bulk sale through the transfer and post closing delivery dates.
- Bulk Acquisitions and Bulk Sales –partner with Secondary Marketing on the development and execution of the Bid Letter, P&S Agreement, and Due Diligence.
- Bulk Sales, NPA Sales, LSSR's – coordinate all deliverables and tasks with Secondary Marketing and all Servicing and Post Closing areas to execute and deliver all loan sales.
- Liason with representatives, contacts from acquirers and sellers of MSR's and coordinate with all necessary 3rd parties – tax service providers, flood providers, insurance providers, foreclosure attorneys, etc.
- Manage budgets and expenses for each transaction – handle repurchase/recourse obligations pertinent to each sale – manage holdback funds.
- Obtain investor approvals, agency approvals, for all acquisition and sale transactions.
- KNOWLEDGE, SKILLS and ABILITIES:Must have general working knowledge of all areas of Servicing and Post Closing
- Must be proficient with basic project management applications and spreadsheets
- Must be able to manage budgets, reconciliations, etc
- Requires experience leading data mapping, trial conversions, data conversions, with major servicing platforms – MSP, LSAMS, LoanServ, etc
- Must be able to multi task and communicate effectively
- Requires experience with sales and acquisitions of Fannie Mae, Freddie Mac, FHA, VA and Private Securitizations
Requires 15 years experience in Mortgage Loan Servicing – primarily with sales and acquisitions.