Manager, Outbound Servicing Transfers at Freedom Mortgage – Moorestown, New Jersey

Freedom Mortgage
Moorestown, New Jersey, United States of America
Mortgage Servicing
Full time
Remote

Summary:

The Manager, Outbound Servicing Transfers is responsible for providing oversight for functions within the Sales & Acquisitions department including: Bulk Sales of Mortgage Servicing Rights (MSRs), Repurchases, Flow Transactions, Scratch and Dent Sales, Early Buyout Sales, Investor related Delinquent loan sales, transfer of sub-served loans, review of Purchase and Sale Agreements, negotiation of Servicing Transfer Instructions with purchasers, Servicing Data and Loan off boarding for sold loans, Agency submissions, problem resolution, and QC/Regulatory audit reports and responses.

Essential Job Duties and Responsibilities:

• Responsible for ensuring that all transfers of servicing to include whole loan sales, MSRs sales, subserviced loans and repurchases are completed within investor, PSA and Transfer Instructions requirements.

• Responsible for ensuring all sales comply with the complex loan data and reporting requirements outlined in the executed Servicing Transfer Instructions to successfully offboard loans to the Purchaser’s Servicing System of Record.

• Ability to analyze and negotiate requirements of Purchase and Sales Agreements, Servicing Transfer Instructions and Letters of Intent related to outbound Servicing Transfers to ensure Freedom can meet the Purchaser’s requirements within the Servicing Operational parameters and Compliance objectives.

• Responsible for ensuring compliance with RESPA, CFPB and Agencies Guidelines when off boarding loans to the Purchaser’s System of Record and limit risk exposure to Freedom.

• Responsible for ensuring all agency submission requests directly to FNMA/FHLMC/GNMA on behalf of Freedom Mortgage comply with terms of the Purchase and Sale agreements and Agency requirements preventing the denial of a Sale for Freedom Mortgage avoiding the risk of negative financial implications.

• Responsible for ensuring repurchased loans acquired from all channels within Freedom are processed in accordance with Purchase and Sale Agreements, Servicing Transfer Instructions, CFPB and other regulatory requirements.

• Responsible for implementation of new regulatory agency programs by HUD, VA, FHA, FHLB, FNMA, FHLMC, GNMA and other regulatory agencies affecting outbound transfers of servicing. Also responsible for ensuring controls and procedures are established to meet all regulatory requirements and internal process and procedures.

• Responsible for ensuring control reports, and reconciliations are completed accurately and timely to ensure key data fields are off boarded to Purchasers’ Servicing System of Record accurately and in compliance with Servicing Transfer Instructions and requirements.

• Responsible for the reconciliation of clearing accounts tied to the service release loans within the timeframes established by internal accounting practices and regulatory requirements.

• Update and maintain key transfer documents to include but not limited to Servicing transfer task lists in Smartsheet and/or other related applications, all adhoc and system generated Data Reports meet Purchaser’s requirements, and all necessary Servicing Lines of Business are kept abreast of requirements and timelines for each sale and/or transfer of servicing.

• Responsible for ensuring all internal process and procedure documents are maintained as internal processes change and external regulatory requirements are mandated.

• Create task plans and action items for tracking projects, timelines adherence and completion of the projects.

• Comply with all company policies and procedures.

• Maintain regular and punctual attendance.

Other Job Duties and Responsibilities:

Performs other related duties as assigned.

Supervisory Responsibilities:

This position has direct reports. Manages staff and carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily.

The requirements listed below are representative of the knowledge, skill, and/or ability required.

• Strong knowledge of investor/PSA requirements, RESPA, CFPB and Agencies Guidelines

• Ability to manage and mitigate potential risk exposure

• Strong relationship building and communication skills with key agency stakeholders

• Ability to implement and maintain robust compliance programs

• Ability to provide training and guidance to relevant stakeholders

• Strong analytical and negotiation skills

• Ability to develop and implement effective quality control processes

• Attention to detail

• Strong organizational and time management skills

• Ability to communicate with executive leadership regarding matters of significant importance to the organization.

Education and/or Experience:

• High School Diploma/GED required

• Bachelors Degree from a Four (4) year College/University and 8 years related experience and/or training; or equivalent combination of education and experience.

Certificates, Licenses, Registrations:

• Not Required.

Work Complexity:

Problems and issues faced are moderately complex. Problems typically impact own department and maybe other departments. Problems are typically solved through drawing from prior experience and analysis of issues

Work Environment:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Work is normally performed in a typical interior office work environment which does not subject the employee to any hazardous or unpleasant

elements. The noise level in the work environment is usually moderate.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.

Equal Employment Opportunity:

The company is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information, or any other basis protected by applicable federal, state, or local laws.

Americans with Disabilities Act:

Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-by-case basis in accordance with applicable law.

Job Responsibilities:

The statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. The company may change the specific job duties with or without prior notice based on the needs of the organization.