Manager, Homeownership Servicing

Illinois Housing Development•Chicago, IL

12h•$94,998 - $118,747•Hybrid

About The Position

This role is a Manager for Portfolio Administration in the Loan and Portfolio Management Department for the Illinois Housing Development Authority. The department provides operational services including infrastructure and transaction management, process development and executions, risk management, and customer support for the Authority. The Manager – Portfolio Administration reports to the Assistant Director and is responsible for the performance of portfolio administration staff and sub-servicer performance related to the Single Family – Homeownership programs. The Manager provides user support for software applications utilized by the department. The position requires a comprehensive knowledge of loan servicing practices, program requirements, and risk management techniques. Provides the appropriate level of leadership in group settings, collaborates with other team members to provide effective and efficient customer service internal and external to the department.

Requirements

Bachelor’s Degree in business, finance, or a related field desirable or an equivalent amount of education and/or work experience.
Demonstrated ability to lead a team and promote team collaboration, cooperation, shared goals and objectives. Provide leadership and direction enabling professional growth and personal maturity.
3+ years of relevant work experience in loan servicing operations, risk and controls, single family real estate, and understanding of complex legal and financial documents related to mortgage lending. Has experience with financial and system controls and experience building customer relationships.
Strong oral/written communication skills. Ability to convey information in the appropriate style. Ability to communicate effectively with Management.
Strong analytical skill, including the ability to identify and resolve customer transaction reporting, process, and accounting and control issues. Able to work independently and assume responsibility for transactions and / or project deliverables with minimal supervision. Able to handle multiple assignments.
Demonstrated experience in lending products and supporting infrastructure, specifically in the affordable housing market.
Proficient PC skills, including experience with Microsoft Office Suite. Knowledge of role-specific tools.
Effective interpersonal skills. Able to build effective relationships with internal and external partners, and proactively identify issues and craft workable solutions.
Business Acumen - Knowledgeable in lending and servicing practices, technology, and information affecting his/her business and organization. Familiarity with the affordable housing industry a plus. Is aware of how strategies and tactics impact downstream systems and processes.

Nice To Haves

Familiarity with the affordable housing industry a plus.

Responsibilities

Manages loan servicing and data management for Single Family – Homeownership related transactions.
Oversees sub-servicer relationship and loan portfolio oversight in the resolution of non-performing loans to ensure compliance with mortgage loan instruments, the Authority’s program policies, and mortgage insurer requirements.
Works closely with staff and sub-servicer to mitigate losses, resolve delinquencies, payment disputes, property preservation issues, foreclosure actions, and the timely payment of real estate taxes and insurance.
Oversees reporting capabilities to maintain accurate loan level detail and transaction maintenance.
Creates processes and procedures to effectively facilitate loan transfers from the Authority to the sub-servicer.
Apprises management of issues that require senior intervention.
Implements approved actions and executes timely solutions.
Ensures that production activities are executed timely and accurately and in compliance with supporting documentation.
Adheres to corporate and departmental loan servicing standards, including documentation of loan loss resolution efforts, loan status, financial controls, and accuracy of transaction processing.
Ensures loan agreements, guidelines, and servicing standards are in place and enforced.
Partners with affected areas across the Authority in executing these responsibilities.
Manages the negotiation of loss disputes with insurers to affect timely and accurate processing.
Works closely with sub-servicer to manage the relationship with real estate brokers and other third party providers to preserve the value of the assets, limit liability exposure, and mitigate losses.
Prioritize business demands; track and report progress.
Builds loss mitigation techniques and strategies that achieve business goals including loan modification initiatives.
In collaboration with team members, assists in the design and implementation of new servicing and loss mitigation guidelines, procedures, and controls to improve efficiency, reduce risk, and control gaps.
Oversees the alignment of procedures with current programs, policies and procedures.
Supports the ongoing evaluation, documentation, and improvement of the loan servicing environment.
Stays abreast of company policies and control requirements.
Maintains the integrity of business activities throughout the entire business process, and supports business continuity practices applicable to the department.
Provides user support for software applications utilized by the department including user access, data administration, improved functionality and systems enhancements.
Oversees the relationship of the Authority’s third party document custodian and the performance of staff Document Administrators responsible for loan document deposits and releases including monthly volume statements and validation of invoicing activity.
Elevates problems to senior management that require intervention.
Management and support of department staff and performance goals and measurements.
Provide effective leadership and direction; mentors staff enabling personal and professional growth and maturity.
Encourages team collaboration and cooperation.
Promote positive morale and communication.
Coordinates recruitment and selection of new staff members, resources, work assignments and customer service, staff development and training, and performance evaluations.
Coordinate or perform additional duties as assigned.
Maintains a comprehensive knowledge of loan servicing practices, program requirements, systems requirements, and risk management techniques.
Provides the appropriate level of leadership in group settings, collaborates with other team members to provide effective and efficient customer service internal and external to the department.
Additional duties as assigned.