Loan Operations Manager

Job Type

Full-time

Description

Primary Purpose of Position:
The Loan Operations Manager oversees the financial servicing, loan purchasing, and regulatory functions of Maine Housing's loan portfolios. This position ensures that the loan portfolios follow federal, state, and Mortgage Insurer/Guarantor requirements, program policies, and that financial functions are handled in accordance with bond requirements and accounting standards. The Loan Operations Manager also conducts risk assessments and compliance reviews and is responsible for vendor management and procurements in the Loan Administration area.

Education and Experience: Education and a minimum of four years of financial and regulatory compliance experience in mortgage banking and/or real estate office or a combination of education and experience preferred.

Core Functions:

• Supervise, coach, and develop staff

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

o Conduct regular coaching sessions with staff

o Work with staff to develop individual goals

o Determine training needs of staff and ensure necessary training is provided

• Manage the loan purchasing and financial reporting functions of the residential loan portfolio(s).

o Provide guidance and work with staff to process loan purchases and perform financial reporting functions.

o Monitor and coordinate monthly activities with Loan Servicers.

o Work with staff, Loan Servicers, and production departments to resolve problem areas.

o Work with production departments during implementation of new programs to ensure smooth transition of loans to loan servicing.

• Manage the loan origination, loan servicing, and financial reporting requirements of the multi-family loan portfolio.

o Provide guidance and work with staff on the origination of multi-family loans, processing requirements of loan servicing, and financial reporting functions.

o Work with staff, legal team, and production departments to resolve problem areas.

o Work with production departments during implementation of new programs to ensure smooth transition of loans to loan servicing.

• Oversee financial aspects of defaulted loan portfolio including the processing of expenditures, mortgage insurance claims, hazard insurance claims, and receipt of loan payments.

o Prepare various reports for Finance Management including Risk Management reports, Gain/Loss reports, and other status reports.

o Monitor activities with Loan Servicers and work with them to resolve problem situations associated with expenses related to escrow matters and RESPA requirements.

• Ensure compliance with various Federal and State regulatory and legal requirements, Maine Housing policies and procedures, and mortgage insurance/guarantor guidelines.

o Research and interpret loan servicing regulations, policies, and practices.

o Identify regulatory compliance risk, recommend, develop, implement, and maintain policies and procedures to ensure compliance with loan servicing requirements.

o Monitor Loan Servicers for compliance with applicable regulatory requirements.

o Provide guidance in the development of alternative solutions or implementation of corrective actions to mitigate or reduce risk exposure.

o Report regulatory matters, concerns and overall compliance condition of Maine Housing's servicing portfolio to management.

• Oversee and coordinate regulatory audits conducted by Federal and State regulatory agencies, mortgage insurance companies, or government guarantors.

o Evaluate the findings report and prepare responses, as needed.

o Implement corrective actions and new procedures, if required.

• Manage internal examinations and compliance reviews of Loan Servicers.

o Perform and coordinate activities associated with servicer evaluations and quality control reviews.

o Evaluate the financial condition, internal controls, quality of service and support, contingency planning, quality assurance and personnel changes of Loan Servicers.

o Provide guidance in the development of alternative solutions or implementation of corrective actions to mitigate or reduce risk exposure.

o Coordinate procurement activities in selecting contractors and…