Default Servicing Coordinator
RIHousing is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
What it’s all about:
This position is accountable for the coordination of the default servicing reporting and compliance functions including monthly oversight of the SFDMS reporting, demand notice preparation and foreclosure referral, default related quality assurance compliance oversight, submission of FHA/GNMA exception requests, claim submission tracking, vendor invoice oversight, document imaging oversight and post purchase education reporting for the residential mortgage loan portfolios serviced by Rhode Island Housing in accordance with regulatory, investor and insurer guidelines. This position will also be responsible performing mortgage counseling functions as needed.
What you’ll do on daily basis:
- This position coordinates with default servicing functions including collections, loss mitigation, foreclosure, bankruptcy, and REO daily to ensure that all reporting and compliance requirements are met.
- The incumbent works with the Assistant Director, Default, Loss Mitigation and REO Supervisors to ensure the timely completion of time sensitive regulatory requirements as outlined in the job summary.
- In this regard, the incumbent keeps current on applicable federal/state laws and regulations. The incumbent also works with the default staff and supervisors to research and resolve complex matters including regulatory reporting and discrepancies, as well as compliance findings, and provides feedback on corrective action. Incumbent will also help in updating and maintaining procedure manuals.
- He/she will help performing mortgage counseling functions including conducting face to face counseling sessions in accordance with regulatory guidelines. As such, he/she must be knowledgably of quality right part contact and Fair Debt Collections Practices.
- This position assists in compliance oversight including review and analysis of findings to identify trends and to minimize financial risk to the agency.
- He/she is knowledgeable and keeps current on Rhode Island Housing program requirements, FHLMC, FNMA, GNMA guidelines, investor requirements, FHA and private mortgage insurance requirements and applicable laws/regulations affecting mortgage servicing.
- Be able to coordinate default servicing reporting and compliance functions to ensure the timely and accurate submission and identify trends in findings to minimize financial risk to the agency.
- Accurately ensure submission of FHA/GNMA exception reporting.
- Coordinate demand notice preparation and foreclosure referral in compliance with regulatory and investor guidelines.
- Perform mortgage counseling functions.
- Perform post purchase education reporting including monitor impact of post purchase education on portfolio delinquency.
- Perform research or special projects as assigned.
- Minimum three years’ experience in a residential mortgage default servicing department with demonstrated knowledge of collections procedures, loan counseling, foreclosure/bankruptcy proceedings and REO, investor and compliance requirements, and real estate laws.
- Excellent written and verbal communication skills
- Strong analytical, negotiation, problem-solving, organizational and MS Office skills.
- Use of personal vehicle/valid driver’s license and proof of insurance is required.
- Bachelor’s degree in business administration, real estate or related field or equivalent work experience.
- Competitive salary
- Parking Stipend
- Medical/Dental/ Vision/Life Insurance
- Paid Time Off
- Retirement Options
- Education Reimbursement
- Onsite Fitness Classes
- Volunteer Days
- Winner of “Best Places to Work” 2016, 2018, 2019
- Worksite Health Award 2013-2019
To achieve our mission, we:
- Offer fair, affordable and innovative lending programs.
- Provide housing related education to consumers and others.
- Promote and finance sensible development that builds healthy, vibrant communities.
- Provide housing grants and subsidies to Rhode Islanders with the greatest need.
- Team up with partners to improve everything we do.
RIHousing requires its employees to be highly motivated and knowledgeable, have a sound understanding of the changing needs of Rhode Island's housing market, be willing to work within and toward a smoothly integrated operation, demonstrate a commitment to serve the people of Rhode Island, especially those with low and moderate incomes in need of safe and affordable homes, and possess a high level of integrity and a deep respect for all Rhode Islanders, including customers, partners and fellow employees.
Apply online at www.rihousing.com