Leading mortgage servicing company located in suburban Philadelphia has an immediate need for a strong manager with a solid background in mortgage default servicing and Loss Mitigation or Underwriting to join their leadership team.
Manage a team of loss mitigation mortgage loan processors and support teams to meet all investor production goals and compliance requirements.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
* Manage the daily performance, quality adherence and workout production of the Loss Mitigation Underwriting and New Application Setup Team (Staging)
* Oversee the loss mitigation application intake, acknowledgement and assignment process
* Manage workout decision timelines in accordance with state, federal and agency requirements
* Maintain department procedures, job aids and training material. Manage the implementation of new investor/insurer workout programs
* Develop and manage to Key Performance Indicators to evaluate Loss Mitigation staff and overall team performance
* Support employee career development by providing effective coaching, training and motivation
* Collaborate with other default managers to eliminate cross-functional processing defects by developing preventative controls
* Responsible for the development and execution of remediation action plans associated with audits, agency examinations and/or client reviews
* Perform vendor SLA monitoring of third-party service providers
* Develop and manage client specific workout programs
* Plan the operation and workflow for the Loss Mitigation function to ensure monthly and quarterly objectives are achieved
* Ensure loss mitigation strategies are being offered in accordance with Investor and Insurer guidelines including Repayment Plans, Forbearances, Modifications
* Execute on personnel hiring, training, ongoing coaching and feedback, performance ratings, salary changes, promotions, transfers, and terminations. Establish priorities and resolve personnel problems.
* Support employee career development by providing employees with opportunities to develop their knowledge, skill and abilities and conducting candid career conversations.
* Develop and administer specific productivity and quality goals for each assigned loss mitigation function
* Ensure Regulatory (Reg X, ECOA etc) and Investor/Insurer/Policy requirements and timelines are understood and met.
* Ensure applicable Loss Mitigation Policy guidelines are understood and followed. Provide coaching and feedback to policy questions and issues.
* Partner with the QA to timely resolve Income Calculation discrepancies and policy issues as applicable.
* Complete regulatory and risk monitoring and exception reporting reviews including root cause analysis.
* Work with your team to identify process improvement opportunities and work with the appropriate levels of management to explore and implement.
* Lead and/or participate in process improvement initiatives including validation testing.
* Serve as Policy and Procedure owner for your applicable area of the Loss Mitigation process including tracking and requesting updates as needed.
* Partner with OOP team and other areas as applicable, to handle borrower inquires and complaints in a timely and accurate manner.
To perform this job successfully, an individual must have the following education and/or experience:
* High school diploma or equivalent is required. Bachelor?s degree preferred.
* Minimum of five (5) years of experience in the mortgage industry required
* Minimum of three (3) years of experience in a leadership capacity required
* Experience in mortgage loan loss mitigation or default preferred
* Experience with Government Sponsored Enterprises (GSE), Federal Housing Authority (FHA) and/or Veteran?s Administration (VA) loans preferred
* Experience with mortgage loan underwriting preferred
* Proficient with Microsoft Office products (e.g. Word, Excel, Outlook, Powerpoint, etc.)
* Proficiency with Mortgage Servicing Platforms (e.g. Black Knight, LPS, etc.) preferred