Manager (Loan Sales and Servicing)

at  Addition Financial

Description:
We are Addition Financial, a member-owned, not-for-profit financial cooperative, offering comprehensive financial solutions that help members achieve their financial goals. Shareholder profits don’t drive us and never have. Since 1937, we’ve been on a mission to bring financial success and education to everyone and make a positive impact in the lives of our members and the communities we serve. And we want your help to make that happen. We’re looking for people who not only want to do meaningful, challenging work, but who also have a heart for service. If this sounds like you, keep reading and we’ll dive into the specifics!

SUMMARY:

The Loan Sales and Servicing Manager is responsible for planning, directing, organizing and controlling the activities and employees involved in administering the loan sales and loan servicing functions. The manager is directly responsible for department activities and projects pertaining to the servicing of all loans, excluding the credit card portfolio. The Loan Sales and Servicing Manager will work with the Director of Loan Sales and Servicing to ensure compliance with all rules and regulations pertaining to servicing the portfolio.

Requirements:

• Manages the servicing functions within the Loan Sales and Servicing Department.
• Understands and can effectively apply loan servicing policies, procedures and regulations to the loan portfolio.
• Coordinates and monitors staffing and workload to provide optimal service to the membership in the most cost-efficient manner.
• Responsible for staff development and coaching of current and new team members.
• Participates in planning and implementation of loan marketing and retention efforts to ensure achievement of growth and retention objectives.
• Remains current on secondary market (Freddie Mac) and mortgage insurance (ARCH, Genworth) servicing guidelines.
• Conducts regular meetings with staff to keep them informed of changes, new procedures, functions and updates.
• Assures that procedures and guidelines regarding loan sales and servicing are accurate and up to date.
• Responsible for quality review functions associated with all hardship workouts.
• Responsible for oversight of escrow administration to ensure adequate insurance coverage is in force at all times. Performs annual aggregate escrow analysis. Responsible for annual payment of real estate taxes and insurance premiums.
• Oversee the quality of investor reporting (Fannie Mae, Freddie Mac) ensuring the team is reports are accurate, timely, processed and remitted within the pre-established guidelines of the department.
• Oversee the settlement of loans sold to the secondary market to ensure all funds are accounted and loan is set up in servicing system to report accurately.
• Directly facilitate audit requests from internal, external and secondary market investors.
• Reconciles custodial accounts for governing bodies (Fannie Mae, Freddie Mac). Performs on-line reporting monthly through the systems. Reconciles portfolios to provide adjustment reports.
• Support team with document preparations for assumption, partial releases, subordination and balloon resets.
• Support team with member inquiries and escalated member issues and research.
• Liaison to other department teams such as IT and Business Intelligence regarding projects and other initiatives.
• Performs other duties and responsibilities as assigned by management.
• Ability to read, analyze and interpret general business periodicals, professional journals, technical procedures and governmental regulations. Ability to create and maintain reports (specifically excel and ARCU reports), business correspondence and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, the Board of Directors and individual members. Ability to participate in and conduct meetings.
• Ability to calculate figures and amounts such as discounts, daily interest and loan to value.

EDUCATION:

• Degree in business or equivalent combination of formal training

EXPERIENCE:

• 5 years’ experience in Loan Servicing including residential mortgages.

Any applicable system or program knowledge:

• Proficient in Microsoft Office (Excel, Word, PowerPoint and Outlook)
• Experience working with Freddie Mac Investor
• Symitar, FICS, and PowerBI experience preferred

SUPERVISORY RESPONSIBILITIES:

Directly supervises all Loan Sales and Servicing team members in the Loan Sales and Servicing Department. Carries out supervisory responsibilities in accordance with the organization’s policies and applicable laws. Responsibilities include interviewing, hiring and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and problem resolution.
The Loan Sales and Servicing Manager establishes and maintains internal controls, maintains security controls and controls loan quality.