Mortgage Servicing Manager

BLACK HILLS FEDERAL CREDIT UNION•Rapid City, SD

3d•Onsite

About The Position

We have the fundamental belief that we, as an organization, can and will improve lives. Rooted in the centuries-old credit union philosophy of people helping people, we maintain a simple premise. Those we interact with will receive equal and just treatment, devoid of intolerance, false judgment, racism, or discrimination of any kind. We must not accept less if we are to fulfill our mission, "We Improve Lives." This mission empowers us to serve the greater good and to make a difference in our world. Our cooperative structure creates a cycle of mutual assistance towards the common goal of the financial well-being of members. At Black Hills Federal Credit Union (BHFCU), we’re committed to improving the lives of our members every day, and we look for people who share that passion. Don’t have a ton of financial industry experience? No problem. Our onboarding includes an orientation program with ongoing training to help staff further their career at BHFCU by building on their existing strengths. General Purpose: The Mortgage Servicing Manager will assist in leading a highly functioning team of mortgage servicing specialists and post closers and be the primary support and contact for all of mortgage servicing and post-closing related functions.

Requirements

Working knowledge of the credit union's products and services, specifically mortgage programs.
Knowledge of business English, spelling, grammar, composition, and arithmetic.
Knowledge of Credit Union rules, products, services, regulations, and procedures.
Knowledge of Credit Union philosophies, practices, policies, and interrelated functions.
Knowledge of project management standards and practices.
Strong working knowledge of federal, state, county or city, investor, insurer and internal laws, policies, and procedures about mortgage loan servicing, this includes tax jurisdiction due dates in all states, counties, and cities where Black Hills Federal Credit Union has real estate loans; and Fannie Mae, Freddie Mac, VA, FHA, and MI company selling and servicing requirements.
Ability to understand and follow complex written and oral instructions.
Ability to comprehend complex functions and procedures and to be able to disseminate that knowledge in a clear and understandable format to others.
Ability to express oneself, clearly and concisely, both orally and in writing.
Ability to prepare and maintain confidential records and reports, along with analyzing statistics and financial data.
Ability to gather, assemble, correlate, and analyze facts and develop solutions.
Ability to handle daily routine with moderate freedom to read and act upon various situations.
Proven history of successful implementation of process improvement with evidence of efficiency gains.
A strong ability to communicate with all levels of staff, stakeholders, vendors, and project teams.
Ability to prioritize duties, handle multiple tasks, and produce a high volume of work in a timely manner that is accurate and of high quality.
Ability to assess the needs of multiple members and prioritize requests to ensure that all members receive the highest quality service possible.
Ability to handle daily routine with moderate freedom to interpret and act upon various situations.
Ability to rapidly adapt and respond to changes in environment and priorities and elicit cooperation from all levels of staff and management.
Ability to interact with more than one department daily.
Ability to present a professional and personable personality to communicate to members and visitors that the credit union is a professional institution.
Ability to work within precise standardized guidelines with some latitude to make decisions and take initiative to resolve problems or unique circumstances.
3–5 years of relevant mortgage servicing experience with the ability to serve as a subject matter expert.
Two-year collegiate equivalent in language, math, and reasoning skills required.

Nice To Haves

2 years of management and/or supervisory experience in the mortgage lending industry, with a proven track record of developing and training staff (preferred).
Strong member service orientation.
Solid understanding of accounting and finance principles (preferred).
Demonstrated ability to deploy technology solutions and lead teams effectively.
Bachelor’s degree in Business, Finance, Accounting, or Economics (or equivalent experience) preferred.

Responsibilities

Directly oversee the day-to-day operations of mortgage servicing and post-closing functions, which includes assisting in the day-to-day administration of the core mortgage servicing system (proper setup and maintenance of loan information), servicing mortgage loans, submitting loans to the secondary market, performing periodic post-closing audits, and completing required seller/servicer audits and QC functions.
Directly oversee the entire mortgage construction portfolio to make sure it is being run effectively for draws, timelines, budget, inspections, and final clear title.
Directly mentor and manage mortgage servicing employees and provide support to the Mortgage Operations Manager.
Monitor activities related to mortgage loan servicing, including calculating, and providing payoff information to members and third parties, verifying the accuracy of funds received and processing payoff checks, completing satisfactions on paid in full loans, processing loan modifications, and requests for partial release of property are completed in a timely manner.
Ensure member requests are responded to in a timely manner, along with any questions and complaints concerning all aspects of servicing functions, notifying members of information related to the servicing of the loan, and providing information related to other services.
Oversee documentation needed on loans is timely and correct within the core mortgage servicing system.
Oversee the day-to-day administration of regulatory escrow compliance requirements, payment processing and contact with the tax service providers, tax authorities, hazard and flood insurance carriers, private mortgage insurance companies and any other third parties related to the processing of escrow items.
Generate annual notices and ensure proper distribution to the members, including but not limited to 1098 tax statements and mortgage insurance notices.
Directly monitor any unpaid tax and insurance items on non-escrowed loans and lapse of insurance coverage on all loans has proper follow up with a member(s), tax office or insurance carrier to ensure the account is within compliance requirements.
Conduct all personnel functions in accordance with applicable policies.
Direct, motivate, hire, and coach mortgage servicing personnel and post closers; Administer timely performance appraisals.
Attend/facilitate scheduled meetings and provide necessary training.
Oversee annual tax payments and escrow analysis for each applicable loan according to regulations, assist with the explanation of escrow analysis to members and be able to provide in-depth details.
Responsible for proper setup and maintenance of loan information on core mortgage servicing system, and all follow-up paperwork including processing payments, distributions, allotments, automated payments, payment corrections, PMI notices, construction statements, and late notices.
Responsible for ensuring that the daily balancing of all servicing related general accounting ledgers and any monthly reports are distributed as needed.
Ensure administrative and operations compliance with Federal and State laws and regulations applicable to BHFCU.
Promote the Mortgage Department both within the Credit Union and the community.
Ensure timely delivery of secondary market committed loans to various investors.
Assist with the administration of compliance submissions and subsequent management responses to ensure files are within compliance as needed.
Compile and analyze data and prepare investor accounting reports to ensure compliance with secondary market investor guidelines including those of Fannie Mae, FHLMC, GNMA and private investor.
Maintain contact with secondary market investors in relation to servicing loans in their portfolios.
Calculate and process interest rate and payment changes on adjustable-rate loans and prepare the proper notification to the members.
Ensure the confidentiality and security of member information.
Perform other duties as assigned.