Special Assets Manager

Mainehousing-1; Augusta (ME); On-site; USD 79,000 - 118,000; Full time

Job summary

The Special Assets Manager at MaineHousing oversees troubled residential loans, including collections, foreclosures, bankruptcy, property preservation, and loss mitigation programs, ensuring compliance with federal, state, and insurer requirements.

The role mentors staff, coordinates training, guides staff in problem situations, and oversees coordination with loan servicers, mortgage insurers, and guarantors to resolve defaults.

Qualifications

• Four years of financial and regulatory experience in mortgage banking or real estate office.
• Two years of management or coaching experience preferred.
• Knowledge of FDCPA, RESPA, CFPB, Bankruptcy Code and Maine state regulations.
• Strong analytical and report-writing skills.
• Excellent written and oral communication; ability to lead staff.
• Ability to multi-task and pay attention to detail.

Responsibilities

• Supervise, coach, and develop staff.
• Provide guidance to staff in performance and resolving problem situations.
• Conduct regular coaching sessions with staff.
• Work with staff to develop department and individual goals.
• Determine and realize training needs of staff.
• Manage resolution of problem loan situations to maintain homeownership and mitigate losses.
• Oversee bankruptcy accounts and foreclosure processes to comply with laws.
• Ensure compliance with Federal/State guidelines, MaineHousing policies, and insurers.
• Enforce policies and coordinate with Loan Servicers and guarantors.
• Develop, coordinate and conduct training programs for staff and partners.
• Other duties as assigned.

Skills

Leadership

Communication

Regulatory knowledge

Financial analysis

Teamwork

Detail-oriented

Multi-tasking

Education

Bachelor's degree in finance, real estate, or related field

Job description

Primary Purpose of Position:

The Special Assets Manager oversees all aspects of troubled residential loans including Collections, Foreclosures, Bankruptcy, Property Preservation, Title Resolution and various Loss Mitigation programs. The Special Assets Manager also ensures compliance with all federal and state, mortgage insurer and guarantor requirements and program policies, and conducts assessments to ensure compliance. This individual also provides analytical and technical support and guidance to internal and external partners.

Core Functions:

Supervise, coach, and develop staff

• Provide guidance to staff in the performance of their job responsibilities and resolving problem situations


• Conduct regular coaching sessions with staff


• Work with staff to develop department and individual goals


• Determine and realize training needs of staff

Manage activities associated with the resolution of problem loan situations in order to find solutions to maintain homeownership and mitigate losses.

Manage activities associated with the handling and monitoring of bankruptcy accounts.

Manage activities associated with foreclosures to ensure they are performed in accordance with State law, various regulations, policies and procedures.

Manage activities associated with property preservation requirements and ensure compliance with applicable guidelines.

Oversee financial aspects of defaulted loan portfolio including foreclosure expenditures, hazard insurance claims, and receipt of loan principal and interest.

Ensure compliance with various Federal and State regulatory and legal requirements, MaineHousing policies and procedures, and mortgage insurance/guarantors guidelines related to default servicing.

Enforce MaineHousing policies and procedures and facilitate the resolution of problem situations with Loan Servicers, mortgage insurers, and government guarantors.

Develop, coordinate and conduct training programs for staff and external servicing partners related to all default servicing requirements.

Other duties as assigned.

Requirements

Education and Experience:

Education and four years of financial and regulatory experience in mortgage banking and/or real estate office and two years of management or coaching experience preferred.

Skills and Knowledge:

• Ability to effectively lead and supervise others


• Knowledge of Fair Debt Collection Practices Act (FDCPA), Real Estate Settlement Procedure Act (RESPA), Consumer Financial Protection Bureau (CFPB), Bankruptcy Code, and the State of Maine regulations related to Collections, Loss Mitigation and Foreclosure requirements


• Experience with financial analysis reviews and report preparation


• Excellent written and oral communication skills; including formal report writing


• Ability to work collaboratively and effectively as a team member


• Ability to multi-task and demonstrate strong problem solving and decision-making skills


• Ability to complete detailed research and pay critical attention to detail

Working Conditions:

Fast paced environment with multiple priorities, interruptions and deadlines. MaineHousing office hours are Monday – Friday from 8:00am to 5:00pm.

Reports To:

Director of Homeownership

Supervises:

Loss Mitigation Specialist, Foreclosure Specialist and REO Asset Manager

The salary range for this position is $78,886 - $118,331. All new employees will start at the annual salary of $78,886, unless otherwise agreed to by MaineHousing. We offer a great benefits package, including, but not limited to, health, dental and vision, retirement options with employer match, life insurance, short and long-term disability, employee assistance, and generous earned time allotment and all major federal holidays. Employment is eligible for the Public Service Loan Forgiveness Program.

Position may remain open until a suitable candidate is found