Manager Loan Servicing Risk
RIHousing – Manager Loan Servicing Risk
Salary - $72,772.72 - $105,520.46
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 responsible for monitoring the performance of the single family mortgage loan portfolio to identify portfolio risks and opportunities. The position will also carry out activities related to improving the performance of the portfolio including such items as mortgage insurance claims, REO expenses and short sales.
What you’ll do on a daily basis:
- Monitor performance of the single family loan portfolio to identify portfolio risks and opportunities. Forecast and report trends to management.
- Supervise and train single family Loan Workout staff.
- Approve and negotiate short sale and deed-in-lieu of foreclosure transactions.
- Approve and process charge-offs of sold Real Estate Owned and short sale properties.
- File and track all mortgage insurance claims.
This position is responsible for monitoring the performance of the single family mortgage loan portfolio to identify portfolio risks and opportunities. The incumbent reviews current and historical delinquency, loss mitigation, and foreclosure trends and compares these trends to industry data. He/she provides management reports detailing portfolio performance and forecasts potential loan losses. Incumbent also analyzes effectiveness and cost of loss mitigation programs and makes recommendations as needed. He/she is responsible for approving loan loss charge-offs and final closeout of sold Real Estate Owned and short sale properties.
This position will supervise and train the single family loan workout staff on a daily basis to ensure the accurate and timely completion of investor and insurer required loss mitigation efforts including but not limited to forbearance, loan modification, short sale, and deed in lieu of foreclosure transactions. The incumbent, in accordance with investor and insurer guidelines, reviews and approves loss mitigation through the completion of a financial cost benefit analysis to minimize potential losses to the agency. As required, he/she negotiates the terms and conditions of short sale and deed-in-lieu transactions including potential deficiency recovery.
The incumbent is responsible for the timely filing of all mortgage insurance claims. He/she will monitor payment of said claims, review paid claims and dispute claim disallowances and denials as needed.
The incumbent is also responsible for assisting in the preparation of written policies to improve workout flow and minimize risk to the agency. He/she monitors all regulatory changes and communicates changes to appropriate staff. In this regard, incumbent assists department staff in preparation for external and internal regulatory reviews. He/she is responsible to develop and maintain positive working relationships with a variety of external partners and vendors including attorneys, investors, private insurers, real estate agents, governmental agencies, and appropriate trade organizations.
Incumbent will perform research or special projects as assigned.
What you’ll need to succeed:
- Minimum of five years loan servicing experience with demonstrated knowledge of loan servicing operations including escrow, customer service, default, loss mitigation, insurance claims, and portfolio risk analysis
- Supervisory experience required
- Strong Knowledge and understanding of laws, regulations and guidelines governing loan servicing
- Excellent verbal and written communications skills, as well as analytical, problem-solving, and organizational skills
- Bachelors degree in business administration or related field with proven management and leadership skills or equivalent relevant 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 uses its resources to provide low-interest loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build, and keep a good home. Created by the General Assembly in 1973, RIHousing is a privately funded public purpose corporation. 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 deep respect for all Rhode Islanders, including customers, partners and fellow employees.