Secondary Market Loan Servicing Supervisor

Central Bank Illinois; Geneseo (IL); On-site; USD 65,000 - 95,000; Full time

Job summary

Central Bank Illinois is seeking a Secondary Market Loan Servicing Supervisor to lead the administrative staff and oversee accounting and record-keeping for all secondary market real estate loans. The role ensures accuracy and full compliance with regulations and bank policy.

The position requires strong leadership, mortgage servicing knowledge, and the ability to coordinate cross-functional teams, manage PMI and escrow processes, and support audits. Local candidates in Geneseo, IL are preferred.

Qualifications

• Proven ability to lead and develop a mortgage servicing team.
• Strong understanding of federal and state lending laws and regulations.
• Experience in mortgage servicing operations and PMI/escrow processes.
• Ability to manage multiple tasks and meet deadlines.
• Attention to detail and accuracy in data input and reporting.

Responsibilities

• Supervises the Secondary Market Loan Servicing administrative staff and oversees daily workflow.
• Ensures compliance with investor guidelines and regulatory requirements.
• Manages the monthly escrow analysis process and PMI servicing procedures.
• Oversees tax payments and monitoring for escrowed taxes.
• Administrates the loan servicing platform and liaises with providers.
• Supports audits and implements corrective action plans.

Skills

Team leadership

Regulatory compliance

Mortgage servicing knowledge

Analytical skills

Risk management

Communication

Multitasking

Education

Two-year business school course

Tools

Microsoft Office Suite

Document management systems

Job description

FUNCTION OF JOB:

The Secondary Market Loan Servicing Supervisor supervises the Secondary Market Loan Servicing administrative staff and performs administrative and operational activities related to the accounting and record keeping for all secondary market real estate loans, ensuring that all servicing related functions are completed accurately, and fully comply with federal and state regulations and bank policy.

MAJOR DUTIES AND RESPONSIBILITIES:

• Directly supervises the Secondary Market Loan Servicing administrative staff, including daily workflow oversight, performance evaluations, coaching, training and development, and recommending promotions, transfers, salary adjustments, or corrective actions.
• Maintains thorough knowledge of each function within the secondary market loan servicing department, including the administration of online resources.Maintains a working knowledge of other bank departments and how functions affect the secondary market loan servicing department.
• Coordinate, evaluate and schedule work among administrative staff, ensuring training and the promotion of cross training across servicing functions to build team resiliency and flexibility.
• Ensure procedures have been developed and are updated timely for the Mortgage Servicing area. Communicate new procedures or changes in the procedures to appropriate staff.
• Direct all aspects of the monthly escrow analysis process for all escrowed secondary market mortgage accounts.
• Manage all Private Mortgage Insurance (PMI) servicing procedures, ensuring we are compliant with all regulations in regards to PMI.
• Oversee and manage the bank’s real estate tax payment and monitoring system, ensuring data integrity, payment of escrowed taxes, and the monitoring of escrowed and non-escrowed taxes.
• Responsible for the administration of the loan servicing platform and serve as a liason to the platform providers for loan or customer issues, enhancements, or operational functionality.
• Responsible for ensuring the Mortgage Servicing staff is adhering to all investor guidelines (including but not limited to FNMA, FHLB, USDA, and FMAC), as well as remaining compliant with state and federal laws.
• Serve as administrator for E-Status, the online payment portal provided by FICS for Secondary Market loan payments.
• Ensure all funded loans are accurately boarded to loan servicing platform, and escalate issues as appropriate to the Secondary Market Loan Operations Officer.
• Coordinate with the Collections and Loss Mitigation team on delinquent mortgage accounts, supporting workout options, forbearance plans, and loss mitigation activities consistent with investor guidelines and regulatory requirements. Report to Secondary Market Loan Operations Officer the delinquency trends.
• Manages the processing of all late notices and statements created and sent to Secondary Market Loan Customers..Manages the processing of all Secondary Market Loan Investor reporting.
• Support internal and external audits by providing documentation, responding to findings, and implementing corrective action plans.
• Identify and mitigate operational risks within servicing workflows; escalate material risk issues to Secondary Market Loan Operations Officer.
• Provides reports, worklists & queries for Real Estate Loans to Management and Mortgage Loan Officers as needed.
• Assists the Secondary Market Loan Operations Officer with the conversion process for secondary market loan operation functions for bank acquisitions, branch additions, software conversions, etc.
• Assists in all other areas as requested.

KNOWLEDGE AND SKILLS ESSENTIAL FOR SUCCESSFUL JOB PERFORMANCE:

• Must be able to input information with a high degree of accuracy and efficiency.
• Ability to perform the following mathematical functions: addition, subtraction, multiplication, division, computation of fractions, accurate counting.
• In-depth understanding of a mortgage servicing department including but not limited to loss mitigation standards.
• Ability to lead, motivate, and develop a team of mortgage servicers.
• Strong knowledge of federal and state lending laws and regulations to ensure compliance.
• Excellent verbal and written communication skills, both in-person and electronically, for clear interactions with team members, clients, and stakeholders.
• Strong analytical skills to identify issues and implement effective solutions in the processing workflow.
• Ability to prioritize tasks and manage multiple projects simultaneously to meet deadlines.
• Familiarity with relevant software and tools, document management systems, and Microsoft Office Suite.
• Ability to work without close supervision.
• Must be able to perform multiple tasks simultaneously.
• Must possess effective managerial skills.
• Is emotionally mature and resistant to stress.
• Has the professional maturity necessary to react to constructive criticism and suggestions in a positive manner.
• Has the professional maturity necessary to request clarification, instruction or direction when uncertain of the proper procedures necessary for task/work completion.
• Position requires a thorough knowledge of some specialized area in banking, finance, or a technical subject and a working knowledge of several related areas or functions.(The above may be gained by completion of a two-year business school course.)
• Experience required by position is from over two (2) years through five (5) full years employment with the Bank or experience in mortgage servicing. (Over 2-5 years)