Mortgage Loan Servicing Manager

Canopy Mortgage, LLC; Lindon (UT); Hybrid; USD 85,000 - 120,000; Full time

Job summary

Canopy Mortgage, LLC is looking for a Mortgage Loan Servicing Manager to manage compliance with agency requirements and oversee a growing servicing portfolio. This includes supervising a servicing assistant and ensuring high standards of customer service.

The ideal candidate will have a Bachelor's degree in finance or a related field and a minimum of 5 years in mortgage servicing. The position allows for remote work flexibility.

Qualifications

• Minimum of 5 years in mortgage servicing.
• In-depth knowledge of Agency Seller/Servicer requirements.
• Strong analytical abilities.

Responsibilities

• Oversee compliance with agency requirements.
• Manage subservicer performance and relationships.
• Coordinate loan boarding and monitoring of performance.
• Prepare monthly reports for executive management.

Skills

Process analysis

Problem-solving

Communication skills

Interpersonal skills

Mortgage servicing software

Education

Bachelor’s degree in finance, business administration, or a related field

Job description

Description

We are seeking a detail-oriented and experienced Mortgage Loan Servicing Manager (“Servicing Manger”) to oversee our growing servicing portfolio. The successful candidate will ensure compliance with agency and regulatory requirements while effectively managing the performance of our subservicer and our mortgage servicing portfolio and loans held in interim servicing. This position will also supervise an assistant.

Requirements

• Key Responsibilities
  • Servicing Compliance
    • Ensure adherence to agency servicer requirements through regular audits and compliance checks.
    • Stay informed on regulatory changes and implement necessary policy adjustments.
  • Subservicer Oversight
    • Manage the relationship with the subservicer, ensuring high standards of customer service and operational efficiency.
    • Monitor and evaluate subservicer performance metrics, addressing any issues that arise.
    • Monitor and review escrow and custodial controls
  • Interim Servicing
    • Oversee the creation and distribution of transfer of servicing notices
    • Oversee the collections of borrower payments on loans held for sale, including defective loans held for sale
    • Coordinate the design and implementation of interim servicing workflow and reporting solutions, including integrations and expanded use of existing loan origination and accounting software.
  • Defective Loan Servicing
    • Assist with reviewing repurchase requests, as assigned
    • Participate in Bad Loan Committee meetings, including providing timely updates to the committee related to assigned loan handling
    • Assist with boarding and loss mitigation of defective loans, including those in foreclosure
  • Loan Boarding Process
    • Oversee the onboarding process for retained loans with the subservicer, ensuring timely, accurate and complete onboarding to subservicer
    • Confirm accurate and timely boarding of all retained loans, including ‘bad’ loans retained for interim servicing
    • Coordinate escrow boarding remittances with the accounting department.
  • Reporting and Analytics
    • Prepare and present monthly activity reports to executive management.
    • Reconcile and prepare monthly MSR portfolio roll forward report, including loan count, UPB, payoffs, paydowns, additions and other adjustments
    • Analyze servicing performance data to identify trends and recommend actionable strategies.
    • Manage and report on Servicing related KPIs to executive management
    • Assist with ensuring data integrity exists across disparate systems, including Nano (LOS), Loan Vision (Accounting ERP) and Qlik (Company BI reporting)
    • Coordinate with Secondary Marketing and Finance for periodic third party MSR valuations; assist with providing and validating data and reports
  • Post-Close Loan Performance Monitoring
    • Review and approve all sold loan Early Payoff Penalties (EPO) and Early Payment Default penalties (EPD) in accordance with investor agreements and company policy
  • Portfolio Retention
    • Coordinate with Consumer Direct sales team to support portfolio retention efforts; including validating that all retained loans are monitored for refinance, payoff intercepts, and other opportunities
    • Prepare analysis and reporting to Senior Management related to runoff and portfolio retention performance.
  • Team Management
    • Supervise a servicing assistant responsible for interim servicing tasks, including collecting borrowers' first payments and sending transfer of servicing notices.
    • Provide training and support to the servicing team to enhance performance.
• Qualifications
  • Education: Bachelor’s degree in finance, business administration, or a related field preferred
  • Experience:
    • Minimum of 5 years in mortgage servicing
    • In-depth knowledge of Agency Seller/Servicer requirements.
  • Skills:
    • Strong process, analytical and problem-solving abilities.
    • Excellent communication and interpersonal skills.
    • Proficiency in mortgage servicing software and reporting tools.
• Key Success Criteria
  • Compliance Accuracy: Maintain a compliance rate of 100% with agency requirements, demonstrating effective oversight of subservicer activities.
  • Performance Metrics: Achieve or exceed established performance benchmarks for customer service and operational efficiency, as measured by monthly performance reports.
  • Successful Loan Boarding: Ensure timely and accurate boarding of all retained loans with the subservicer, with a target of minimizing discrepancies to less than 1%.
  • Team Development: Foster a collaborative team environment, with a focus on training and development, resulting in improved employee engagement and performance metrics.
  • Stakeholder Satisfaction: Maintain high levels of satisfaction among internal stakeholders and borrowers, as indicated by feedback and satisfaction surveys.

Will consider remote employees.