Loss Mitigation Manager

Critical features of this job are described under the headings below. They may be subject to change due to changes in our business processes or other business-related reasons.

POSITION SUMMARY:  Directs the daily operations of the Loss Mitigation area; assists with Foreclosure and Bankruptcy areas, which includes maintaining compliance with investor/insurer requirements, monitoring daily loss mitigation practices or related activities; oversees daily payment operations; provides internal training to staff; monitors work processes to maintain compliance as investor/insurer guidelines change.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Essential duties and responsibilities include the following. Other duties may be assigned.

• Directly supervises staff; interviews, hires, and trains employees; makes assignments and monitors work; develops employee skills and encourages growth and development; reviews and evaluates employee performance; addresses workplace issues and provides guidance, coaching, and disciplinary measures for staff; addresses personnel issues in conjunction with appropriate leadership and the Human Resources division.

•  Monitors loss mitigation operations, making recommendations to reduce/control default rates, improve loss mitigation and maintain full investor/insurer compliance.

• Monitors customer communication efforts, letters, outreach and the response to communications to improve direct contact and the success rate of borrower arrangements to cure defaults.

• Trains Loan Servicing staff on agency and investor/insurer procedures and guidelines.

• Maintains compliance with investor requirements and other state and federal regulations.

• Directs the activity of loss mitigation staff to maintain compliance with Federal Housing Administration (FHA), Veterans Administration (VA), United States Department of Agriculture (USDA) and Conventional Mortgage Insurer requirements.

•  Monitors daily payment operations, making recommendations to increase efficiency and to improve on-line/Automated Clearing House (ACH) payment participation and Lockbox operations.

• Serves as backup for payment functions, including daily Automated Clearing House (ACH) and lockbox processing.

• Makes outgoing calls to customers to attempt to assess reasons for default and make satisfactory arrangements to bring accounts back into a current standing.

• Serves as a member of the Foreclosure Review Team.

• Prepares reports on the status of various functions, projects and departmental operations.

• Reviews and monitors phone reports to ensure departmental goals are being met.

• Provides support to complete any function within the Loan Servicing group as needed.

MINIMUM QUALIFICATIONS

The requirements listed below are representative of the knowledge, skills, and/or abilities required.

Education and Experience:

•  Bachelor degree in Business, with Finance or Accounting emphasis, preferred.

• Two years of management experience.

•  Minimum of one year of mortgage loan servicing experience, with a minimum of 5 years preferred.

The above qualifications express the minimum standards of education and/or experience for this position. Other combinations of education and experience, if evaluated as equivalent, may be taken into consideration.

Knowledge, Skills, Abilities, and Competencies:

•  Ability to effectively manage staff.

•   Ability to handle private, personal information in a confidential manner; maintains a high level of confidentiality.

• Excellent customer service skills.

• Strong knowledge of mortgage collection and foreclosure laws, regulations, and procedures.

• Sets appropriate parameters for productivity, then holds self and others responsible for obtaining those results.

• Strong interpersonal skills; ability to relate well to a diverse population.

• Ability to communicate effectively with subordinates and superiors to ensure productivity and good work habits.

• Excellent verbal and written communication skills.

• Builds and maintains positive relationships with internal and external constituents.

• Strong organizational skills.

• Strong time management skills; uses time effectively; consistently meets deadlines.

•  Ability to effectively work both independently and as part of a team.

• Documents regularly, thoroughly, accurately, and completely.

• Exercises good and consistently fair judgment, courtesy, and tact in dealing with the staff and public in giving and obtaining information.

• Ability to exercise good judgment in evaluating complex situations.

•  Excellent problem solving skills.

• Ability to handle frequent procedural change and document processes for training purposes.

• Ability to read and interpret complex program policies and procedures.

• Computer literate; proficient in Microsoft Word, Excel, Outlook, and the internet; able to effectively adapt to and use other computer systems as needed for daily activities.

Special Demands:

The special demands described here are representative of those that must be met by a staff member to successfully perform the essential functions of this job.

•  The ability to use a phone headset for long periods of time.

• While performing the duties of this job, the employee is regularly required to sit; stand; use hands to finger, handle or feel; and talk and hear.

• The employee is occasionally required to walk; reach with hands and arms, and stoop, kneel, or crouch.

• Specific vision abilities required by this job include close vision, distance vision, and the ability to adjust focus.