AVP, Mortgage Loss Mitigation & Acquisitions

VyStar Credit Union•Jacksonville, FL

About The Position

The Assistant Vice President of Loss Mitigation & Acquisition will focus on Loss Mitigation and Acquisition of loan products inclusive of both government and portfolio products along with supporting the VP Mortgage Servicing & Loss Mitigation in evaluating and implementation of future Merger and Acquisitions by VyStar. Maintain servicing and loss mitigation standards in compliance with all government, secondary market and mortgage insurance servicing for policy adherence, and process improvement. Display strong collaboration and sharing of expertise/knowledge within Real Estate Lending and with other areas as it relates to projects, goals, and initiatives. The AVP, Mortgage Loss Mitigation & Acquisitions reports directly to the VP Mortgage Servicing & Loss Mitigation and is responsible for ensuring that the mortgage lending portfolio adheres to VyStar’s established loan policies and procedures along with all government, mortgage insurance and secondary marketing guidelines. The incumbent is expected to become the authority on applicable regulations, policies, and procedures. A successful candidate will leverage strong communication and problem-solving skills to fully understand all regulations and guidelines related to servicing FHA, VA, USDA, Fannie Mae, Freddie Mac and portfolio loans. This position will also serve an active role in representing the Mortgage Servicing & Loss Mitigation department in projects involving, but not limited to system improvements, mergers, and acquisitions. In this capacity the ability to multi-task and to work well with others is critical.

Requirements

High School Diploma or GED is required.
BA/BS degree with emphasis in Accounting, Business or Finance preferred.
Minimum of six (6) years of experience in servicing and/or loss mitigation.
Experience in FHA/VA/USDA servicing and loss mitigation preferred.
3+ years of experience leadership role.
Competent working knowledge of FHA/VA/USDA and Secondary Market (FNMA/FHLMC) requirements regarding mortgage loss mitigation preferred.
Thorough understanding of private and government mortgage insurance requirements.
Competent working knowledge of federal and state regulations related to mortgage loan servicing specifically CFPB requirements preferred.
Strong proficiency with Microsoft products including Word, Excel, PowerPoint and Outlook.
Must be highly motivated, analytical, detail-oriented, able to multi-task and work in a fast-paced environment while applying critical thinking skills.
Utilize independent judgment and technical capabilities to effectively manage a diversified workload.
Exhibit sound professional judgment, problem-solving and negotiation skills.
Demonstrate professional composure, objectivity and fairness when dealing with conflicts and sensitive matters.
Exhibit a strong sense of teamwork and ability to collaborate with team members to achieve high quality and productivity levels.
Excellent interpersonal, communication, analytical and organizational skills combined with the ability to condense technical subject matter into clear and effective communications to Vice President of Mortgage Servicing & Loss Mitigation and Senior Vice President of Real Estate Lending.
Ability to create, compose and edit written materials.

Responsibilities

Proactively monitor and evaluate loss mitigation practices to ensure that quality standards are achieved and that risk level tolerances stay within acceptable levels. Identify errors and potential risks. Assist in the development of internal controls that prevent future errors and mitigate identified risks. Identify improvements that will result in lower risk, higher efficiencies and allow for scalability.
Maintain thorough knowledge of regulatory requirements and VyStar’s mortgage lending policies. Adhere to established policy and procedure review schedules. Propose updates as needed. Assist in the implementation of procedures, and practices while making significant strategic and tactical contributions to the formulation, development, and administration of Credit Union strategies, business goals, and objectives.
Cultivate a positive working relationship with the department to identify, develop, and recommend revisions of internal standards, policies, operating procedures, and new processes to improve efficiencies. Ability to lead a team of 10+ in all functional duties to include succession planning.
Act as the mortgage lead for Merger & Acquisition activities as it relates to identifying and understanding mortgage lending regulations & policies, loan products, and credit risk. Act as the representative for Mortgage Loss Mitigation on projects specific to this line of business. Actively participate, and lead when appropriate, in key re-engineering projects to enhance Mortgage Loss Mitigation processes and procedures.
Assist in training of Mortgage Servicing & Loss Mitigation Department on government servicing policies and procedures related to servicing FNMA, FHLMC, FHA, VA, and USDA loans. Provide quality service to all internal and external stakeholders including peers, members, prospective members, and vendors. Identify areas of opportunities and design solutions to optimize risk/reward tradeoff. Conduct in depth portfolio review to discern emerging trends, opportunities, and risk.
Work with various areas within Real Estate Lending to identify and implement new products and services related to mortgage lending. Ensures proper file organization and maintenance (credit, document, and collateral) are essential elements of an effective loan administration process. A credit union should maintain electronic and hard copy files in a consistent, orderly, and uniform manner, with clearly labeled sections that are easily identified.
Contribute to Mortgage Loss Mitigation & Acquisition area’s preparation for and participation in state and federal examinations and internal audits. Perform other duties and responsibilities as assigned. All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work. To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates. The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance.
Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job: Focus - Focus your full attention by carefully listening to and observing client or member. Connect - Consistently be friendly and approachable. Demonstrate your care. Understand - Listen empathetically and ask questions (70%/30% rule). Counsel - Recommend solutions based on your member’s needs and objectives. Advance - Ensure that member’s expectations were exceeded. Verify necessary follow-up actions.