Manager, Homeownership Servicing

Manager – Home ownership Servicing

At IHDA we strive to create and maintain a work environment that promotes diversity, recognition and inclusion. IHDA is committed to hiring and investing in individuals of diverse talents and backgrounds to ensure a range of perspectives and experiences inform and guide our work of financing affordable housing in the state of Illinois.

The Illinois Housing Development Authority (IHDA) is one of the Nation's preeminent Housing Finance Agencies and one of the State's ten largest financial institutions. Our mission is to finance the creation and preservation of affordable housing across the state. IHDA oversees more than 20 federal and state programs on behalf of the state of Illinois and serves as one of the state's primary resources for housing policy and program administration.

For over 50 years, IHDA has led the state in financing and supporting affordable housing.

This role is a Manager for Portfolio Administration in the Loan and Portfolio Management Department for the Illinois Housing Development Authority. The department provides operational services including infrastructure and transaction management, process development and executions, risk management, and customer support for the Authority. The Manager – Portfolio Administration reports to the Assistant Director and is responsible for the performance of portfolio administration staff and sub-servicer performance related to the Single Family – Home ownership programs.

Position responsibilities include overseeing analysis that measures sub-servicer servicing performance for loans acquired by the Authority to sustain affordable home ownership. Coordinates management of staff, including recruitment and selection, resources, work assignments and customer service, staff development and training; and performance evaluations. The Manager oversees the development of guidelines and makes recommendations for identifying and enforcing prudent mortgage servicing practices, problem resolution, and loss mitigation.

The Manager provides user support for software applications utilized by the department. The position requires a comprehensive knowledge of loan servicing practices, program requirements, and risk management techniques. Provides the appropriate level of leadership in group settings, collaborates with other team members to provide effective and efficient customer service internal and external to the department.

Essential Functions:

• Portfolio Oversight:
  Manages loan servicing and data management for Single Family – Home ownership related transactions. Oversees sub-servicer relationship and loan portfolio oversight in the resolution of non-performing loans to ensure compliance with mortgage loan instruments, the Authority's program policies, and mortgage insurer requirements. Works closely with staff and sub-servicer to mitigate losses, resolve delinquencies, payment disputes, property preservation issues, foreclosure actions, and the timely payment of real estate taxes and insurance.
  
  Oversees reporting capabilities to maintain accurate loan level detail and transaction maintenance.
• Documentation and Data Maintenance:
  Ensures that production activities are executed timely and accurately and in compliance with supporting documentation. Adheres to corporate and departmental loan servicing standards, including documentation of loan loss resolution efforts, loan status, financial controls, and accuracy of transaction processing. Ensures loan agreements, guidelines, and servicing standards are in place and enforced. Partners with affected areas across the Authority in executing these responsibilities.
• Property Disposition:
  Manages the negotiation of loss disputes with insurers to affect timely and accurate processing. Works closely with sub-servicer to manage the relationship with real estate brokers and other third party providers to preserve the value of the assets, limit liability exposure, and mitigate losses. Prioritize business demands; track and report progress.
• Risk Management:
  
  Builds loss mitigation techniques and strategies that achieve business goals including loan modification initiatives. In collaboration with…