Job Purpose:

The Vice President of Servicing and Subservicing Oversight (DOS) will report to the EVP of Capital Markets and Enterprise Risk, and is responsible for providing loan servicing practices that are considered best in class; the oversight of third-party providers to ensure full compliance with agreed upon contractual terms and conditions of contracts and/or servicing agreements between Newfi and the third parties performing loan servicing responsibilities; the oversight of both internal and third-party compliance with state, federal, agency, GSE (Ginnie Mae, Fannie Mae, and Freddie Mac) guidelines and the company’s policies and procedures. The position will design, maintain, and manage an over-sight review plan and governance to ensure optimal portfolio performance and outstanding customer experiences. The position must ensure that executive management is provided with a comprehensive portfolio snapshot overview and trending analysis monthly, or as needed. The position leads all tasks, planning, maintaining and development of contract services and vendor relationships.

Duties and Responsibilities:

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  Oversight of third-party servicing vendors that provide subservicing services related to active servicing, customer service, call center, default/foreclosure, bankruptcy, REO disposition and claims processing.
• Working in conjunction with the company’s compliance and legal personnel to validate company portfolios are managed in accordance with all state, federal and agency compliance requirements.
• Working in conjunction with Compliance Officer, to create and manage a comprehensive and effective Loan Servicing Vendor Oversight Program to measure servicing vendor performance (trends, risks, and opportunities).
• Conduct onsite visits to sub-servicer facilities bi-annually or as needed to proactively identify and respond to potential compliance violations.
• Lead and participates in projects related to Loan Servicing Operations.
• Validate that all required Investor and government reporting is completed and in compliance with federal and state guidelines.
• Validate the completeness and accuracy of inbound and outbound bulk data transfers.
• Confirm flow/bulk loan data transfers and receipt by sub-servicer.
• Provide necessary, accurate and timely mortgagor loan data to sub-servicer.
• Reconcile remittances received from sub-servicer against accounting records.
• Review daily activity reports from sub-servicer to ensure validation of processing activities.
• Verify adequate delinquency controls are maintained, frequent communication with sub-servicer and participation in identifying solutions that will cure accounts in a timely and effective matter.
• Review past due loan accounts regularly; participate in loss mitigation reviews and monthly/quarterly internal asset reviews.
• Verify adequate sub-servicing oversight of active loans to include loan setup, conversions and transfers, loan billings, investor reporting/accounting, bank reconciliations, cash management, escrow administration, force place insurance, private insurance for adequacy and sufficient documentation, renewals, non-renewals and cancellations, payoff statements/processing, correspondence with borrowers and insurance agents, auditing insurance certificates for compliance, property tax disbursements, annual review of delinquent property taxes, correspondence with borrowers to recoup tax advances and/or setup mandatory impounds.
• Verify adequate sub-servicing oversight to include collections, loss mitigation, claims, foreclosure, bankruptcy, property preservation and REO disposition.
• Verify remittances and reporting to related GSEs (Ginnie Mae, Fannie Mae, and Freddie Mac).
• Review GL reconciliations, signoff, daily index tracking.
• Assist Senior Management in setting the strategic direction for the department.
• Acts as a company ambassador when interacting with vendor partners. Displays high integrity, transparency, and fairness with an emphasis on promoting the Enterprise core values.

Qualifications & Desired Skills:

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  Demonstrates knowledge of, adherence to, state and federal regulations and laws as they pertain to this position.
• Proven experience with sub-servicing oversight, monitoring for compliance with state and federal regulations and laws as they pertain to this position.
• Strong research skills including gathering and analyzing data from multiple sources.
• Strong presentation and excellent people skills; self-starter with the ability to work well independently and as a team player.
• Promotes dialogue between staff, sharing of knowledge and ideas, offering, and receiving feedback to further develop best in class initiatives.
• Strong analytical and strategic planning skills.
• Exceptional oral, written, and interpersonal communication skills.
• Ability to make decisions that have impact on cross functional departments.
• Ability to deal with complex difficult problems involving multiple facets and variables in non-standardized situations.
• Ability to work with little to no supervision while performing duties.
• Bachelor’s Degree preferred and a minimum of five (5) years’ experience working in a similar field.
• Must possess a broad base of mortgage servicing knowledge, including, back-office operations, risk assessment, process workflow, conflict resolution, negotiations, due diligence, business intelligence, project management, and vendor management.
• Five (5) + years in mortgage servicing, including a strong understanding of the mortgage process, programs, and loan servicing.

Benefits:

• 
  401k and full medical, dental, & vision.
• Leadership at your fingertips.

Newfi Lending is an Equal Opportunity Employer. We respect and aim to empower individuals and support the diverse cultures, perspectives, skills, and experiences within our workforce.

Disclaimer:

The above statements are intended to describe the general nature and level of work being performed by people assigned to this position. They are not intended to be an exhaustive list of all associated responsibilities, skills, efforts, or working conditions. The Company reserves the right to change, amend, add, delete, and otherwise assign any and all duties, responsibilities, and position titles, as it deems necessary to meet the needs of the business.