Job Description
Job DescriptionPosition Overview:
The Mortgage Loan Servicing Manager is responsible for performing interim servicing and subservicing oversight related to residential mortgage loans. Manage and oversee third party subservicing relationship.
Key Responsibilities:
- Review and implement all procedures for new loan set-up and ongoing monitoring and control of sub servicer’s loan administration activities.
- Perform spot audits on a reasonable percentage of loans delivered monthly for subservicing.
- Verify date of set-up and accuracy of loan information boarded on Sub-servicers system.
- Review Sub-servicer’s standard monthly portfolio management reports and provide summary to management
- Confirm directly with investor timely delivery and accuracy of all investor reports, reconciliations and cash remittances
- Review delinquent loans to confirm that adequate efforts have been made to contact borrowers.
- Review copies of all investor audit reports which include Lender’s loans.
- Oversee the Servicing Specialist positions and related interim servicing job duties.
- Supervise the interim servicing team and the day-to-day functions.
- Understand and resolve any tax, insurance, and escrow issues.
- Ensure disbursement, analysis, document collection and document management processes are sound.
- Monitor senior lien foreclosure sale activity; provide related data analysis and strategy recommendations
- Ensure all MERS produced mandatory reports are accurate as they are populated.
- Confirm TOB & TOS (transfer of servicing) batches from our sub-servicers in MERS.
- Assign appropriate sub-servicers in MERS on all loans.
- Conduct monthly reconciliation of all MERS required fields.
- Provide data/documentation requested for MERS Document reviews on selected MINs to stay in compliance.
- Any other duty as assigned by supervisor.