Servicing Manager: Default, Collections, & Loss Mitigation

Job Details

Job Location

MN - New Brighton, MN

Position Type

Full Time

Job Shift

Day

Description

SUMMARY:

Extensive administrative work involved in overseeing servicing operations of the Servicing Department for the mortgage company and providing direct member service to the borrowers. Provide guidance and technical expertise to other members in the default/collection area with day-to-day activities in accordance with established guidelines and determining appropriate courses of action. Maintain positive, professional, and cooperative relationships and communication with all staff.

REQUIRED QUALIFICATIONS:

• Education: High School Diploma/GED required. Bachelor’s degree in business OR any related field preferred.
• Experience: A minimum of 8 years experience in a management role in the mortgage industry preferably in mortgage servicing specifically in the default area.
• Licenses/Certifications: none
  
  

MORTGAGE SERVICING FUNCTIONS: Collections, Loss Mitigation, Foreclosure, Bankruptcy, Loan Boarding, Cashiering, Call Center, Correspondence, Website, , Special Servicing, Escrow, Invoicing.

ESSENTIAL RESPONSIBILITES:

• Ensure staff is following FDCPA, CFPB and all investor and insurer guidelines, ensuring compliance with applicable consumer laws, regulations, company guidelines, etc. by maintaining a current knowledge of accounting, compliance or other policies, procedures, guidelines and current standards.
• Oversee all functional areas within the collections and loss mitigation operations to promote efficient and effective processes in terms of mortgage loan collections.
• Attend seminars about loss mitigation or the mortgage industry to assist in personal growth within the industry and with the company.
• Provide clear, constructive feedback regarding work performance (to/from individuals or groups) and be able to provide clarification, as necessary.
• Manage existing vendor relationships (WaterfallCalc, Safeguard, NFR).
• Manage departmental employee relations issues as they pertain to employee’s work, work processes, dealings with other personnel, and supervision whether provided or received.
• Starting in July 2025, conduct face-to-face or Teams consultations with delinquent FHA borrowers (or any borrower if borrower desires it) and determine appropriate resolution.
• Monitor delinquency reporting to investors, mortgage insurers, and internal authorities
• Manage credit bureau reporting and corrections resulting from errors during the loss mit workout process
• Implement peer or QC reviews to check for errors when posting workouts to LoanServ
• Provide KPI’s to director monthly
• Provide Loan Mod data for NMLS quarterly
• Handle escalated calls as needed
• Submit Sagent Support / Asana tickets as needed
• Ensure specialists have proper access to all investor/insurer portals
• Hold quarterly performance meetings; ensuring all performance metrics are being met.
• Communicate and implement compliance updates to staff and facilitate training if needed
• Manage day-to-day activities of the team.
• Delegate tasks to employees.
• Develop and implement timelines to achieve targets.
• Create and assign employee work schedules including assignments and job rotation.
• Maintain day to day communications with team members including providing general technical direction and coaching.
• Provide input to department director on hiring, training, performance, process development and workflow.
• Monitor team members' participation to ensure the training they are being provided is being put into use, and, where necessary, determine if any additional training is needed
• Provide reports as directed to keep Director informed.
• May review and approve time records, vacation/PTO requests, overtime scheduling and scheduling/time off requests.
• Perform miscellaneous duties as assigned.
• All other duties as assigned
  
  

ESSENTIAL DUTIES, KNOWLEDGE, SKILLS, ABILITIES:

• Must possess a positive and helpful attitude and be able to behave as a role model when managing and coaching team members.
• Strong written communication skills
• Ability to identify individual learning needs/styles and coach/train appropriately.
• Outstanding customer service focus and ability to work effectively and collaboratively with others.
• Ability to effectively supervise and direct the work of others, including delegating, coaching, motivating and managing staff performance.
• Maintain courteous, professional, and effective working relationships with employees at all levels of the organization, customers, vendors and/or any other representatives of external organizations.
• Ability to multi-task as well as quickly adapt to changing work assignments
• Thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency, and Credit Union requirements.
• Ability to monitor accurate and timely execution of escrow analysis, PMI cancellations and ensure sufficient hazard and flood insurance coverage on all loans.
• Ability to p rovide in-dept and detailed support to the Servicing Director and serve as a back-up for this position.
• Understanding of FNMA, GNMA, and FHLMC guidelines
• Familiarity with mortgage loan Servicing Systems
• Proficiency in using and learning mortgage loan software.
• Proven excellent reporting, letter preparation, group presentation and other related communications skills.
• Ability to define problems, collect data, establish facts, and draw valid conclusions.
• Basic Excel, MS Office
  
  

COMPENSATION: $69,738 - $87,171 Annual Salary (Range)

General Description of Benefits:

All full-time employees are eligible for Medical Insurance, Telehealth Services, Dental Insurance, Vision Insurance, Life Insurance, Short-term Disability, Long-term Disability, Legal and Identity Theft Protection, Critical Illness Insurance, Hospital Insurance, Accident Insurance, Participation in 401k Plan with up to 5% company match, and Variable Bonus Pay.