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Mortgage Loan Servicing Sub Servicing Specialist

Full Time
Remote
Posted 25 days ago
Job description
Description:

Here we grow again!! We are looking for an experienced Servicing and Sub-Servicing Specialist!!


The Mortgage Loan Servicing and Sub-Servicing Specialist is responsible for ensuring that they provide

servicing practices that are best in class and fully compliant with agreed upon contractual terms and

conditions to comply with state, federal, agency, GSE (Ginnie Mae, Fannie Mae and Freddie Mac)

guidelines and the company’s policies and procedures. The candidate will design, maintain, and manage

an over-sight review plan and governance to ensure optimal portfolio performance and outstanding

customer experiences emanate from vendor relationships. The candidate must ensure that executive

management is provided a comprehensive portfolio snapshot overview and trending analysis on a

monthly basis or as needed. The candidate leads all tasks, planning, maintaining and development of

contract services and vendor relationships.

Duties and Responsibilities:

  • Responsible for oversight of all third-party servicing vendors and works in conjunction with company compliance and legal personnel to validate company portfolios are managed in accordance with all state, federal and agency compliance requirements.
  • Creates and manage a comprehensive and effective Loan Servicing Vendor Oversight Program to measure servicing vendor performance (trends, risks and opportunities). If required, conduct onsite visits to sub-servicer facilities as needed to proactively identify and respond to potential compliance violations.
  • Lead and participate on projects related to Loan Servicing Operations.
  • Validate that all required investor and government reporting is completed in compliance with stated guidelines.
  • Validate the completeness and accuracy of inbound and outbound bulk data transfers.
  • Confirm flow/bulk loan data transfer and receipt by sub-servicer.
  • Provide necessary, accurate and timely mortgagor loan data to sub-servicer.
  • Reconcile remittances received from sub-servicer against accounting records.
  • Review daily activity reports from sub-servicer to ensure validation of processing activities.
  • Verify that adequate delinquency control is maintained which includes communication with sub-servicer and participation in identifying solutions that will cure accounts in a timely and effective manner.
  • Review past due loan accounts regularly; participates in loss mitigation reviews and monthly/quarterly internal asset reviews according to policy.
  • Verify adequate sub-servicer oversight of loan billings, demand statements and payoff processing, investor accounting, reporting relating to GSEs (Ginnie Mae, Fannie Mae and
  • Freddie Mac) , GL reconciliation review and signoff, daily index tracking, daily workflow of insurance cancellations/non-renewals, forced placed insurance, insurance claims processing, correspondence with borrowers and insurance agents, auditing insurance certificates for compliance and escrow processing and analysis.
  • Verify adequate sub-servicer oversight of property tax disbursements, annual review of delinquent property taxes, corresponding with borrowers to recoup advances and/or setup mandatory impounds.
  • Verify sub-servicer is conducting annual property inspections as required, evaluating low valued assets, and providing best course of action or exit strategy.
  • Provide back up support to the Mortgage Loss Mitigation Specialist.
Requirements:


Qualifications & Desired Skills:

  • GNMA servicing experience is preferred
  • Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position.
  • Strong research skills including gathering and analyzing data from multiple sources.
  • Strong presentation and excellent people skills; self-starter with the ability to work well independently and as a team player.
  • Promotes dialogue between staff, sharing of knowledge and ideas, offering, and receiving feedback to further develop best in class initiatives.
  • Strong analytical and strategic planning skills.
  • Exceptional oral, written, and interpersonal communication skills.
  • Ability to make decisions that have impact on cross functional departments.
  • Ability to deal with complex difficult problems involving multiple facets and variables in non-standardized situations.
  • Ability to work with little to no supervision while performing duties.
  • Bachelor’s Degree preferred and a minimum of five (5) years’ experience working in a similar field.
  • Must possess a broad base of mortgage servicing knowledge, including, back-office operations, risk assessment, process workflow, conflict resolution, negotiations, due diligence, business intelligence, project management, and vendor management.
  • Five (5) + years in mortgage servicing, including a strong understanding of the mortgage process, programs, and loan servicing.

Benefits:

  • Competitive comp plan with salary
  • 401k and full medical, dental, vision
  • Leadership at your fingertips

Newfi Lending is an Equal Opportunity Employer. We respect and aim to empower individuals and support the diverse cultures, perspectives, skills, and experiences within our workforce.

Visit us at www.newfi.com or www.newfiwholesale.com

Disclaimer:

The above statements are intended to describe the general nature and level of work being performed by persons assigned to this position. They are not intended to be an exhaustive list of all associated responsibilities, skills, efforts, or working conditions. The Company reserves the rights to change, amend, add, delete, and otherwise assign any and all duties, responsibilities, and position titles, as it deems necessary to meet the needs of the business.

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