MORTGAGE SUBSERVICING OVERSIGHT SPECIALIST
Company: Broadway Bank
Location: San Antonio
Posted on: November 8, 2024
Job Description:
Position: Mortgage Subservicing Oversight Specialist - Division:
Res Mortgage Lending-
Work
Days:
Monday - Friday- Hours of Operation:
8:00am - 5:00pm
Why Broadway Bank: We are one of the largest independently owned
banks in
Texas with offerings in personal and private banking, wealth
management,
business banking and mortgage lending. Position Overview: The
Mortgage
Subservicing Oversight Specialist is responsible for ensuring the
effective
oversight of mortgage servicing activities, with a primary focus on
managing
and evaluating the performance of subservicers against established
service
level agreements (SLAs). This role requires collaboration with
internal and
external stakeholders to ensure compliance with regulatory, agency,
and
investor guidelines, while maintaining service quality and
addressing escalated
issues. The role demands expertise in mortgage subservicing, deep
knowledge of
residential mortgage servicing guidelines, and strong analytical
and
communication skills to support mortgage servicing operations
effectively. Essential Functions:
- Maintain in-depth knowledge of the Master Servicer and
Subservicer obligations as defined by the Subservicing Agreement,
and promptly escalate any breaches.
- Continuously monitor and enforce compliance with mortgage
servicing SLAs, producing monthly performance scorecards to track
vendor adherence.
- Ensure subservicers meet all applicable regulatory, agency, and
investor guidelines, including internal policies, by conducting
regular performance evaluations.
- Ensure subservicers adhere to the Delegated Authority Matrix,
escalating deviations as needed.
- Conduct thorough reviews of servicing complaints to assess
vendor handling and resolution in line with established
processes.
- Oversee third-party vendor quality testing programs, evaluating
critical functions like Loan Administration (cash management,
escrow administration), Default Management (Collections, Loss
Mitigation), and Investor Accounting.
- Prepare and deliver comprehensive reports to management based
on assessments and evaluations of servicing and vendor
performance.
- Manage identified servicing issues by working collaboratively
with internal business units such as Retail Banking, Risk,
Compliance, and Audit.
- Coordinate with internal and external stakeholders to resolve
escalated loan-level issues promptly.
- Participate in regular vendor and partner calls to gather
relevant data, ensuring accurate and timely reporting on vendor
performance.
- Oversee the timely submission and accuracy of vendor reports,
ensuring all required documentation is maintained.
- Lead or contribute to ad hoc projects, supporting management
with tasks related to subservicing oversight.
- Support the third-party risk function by providing input on
vendor performance for annual assessments, including participation
in onsite reviews as necessary.
- This
position may require travel within the Bank's geographic area.
Experience & Education:
- A Bachelor's degree in a relevant field or equivalent work
experience is required.
- 5 years of experience in Mortgage Subservicing Oversight,
Mortgage Servicing Quality Assurance/Control, or a related
field.
- Strong experience in servicing and asset management of
residential mortgage loans.
- Comprehensive experience working with investors, including
Freddie Mac, Fannie Mae, and the VA.
- Experience working with regulators and examiners during loan
audits and formulating appropriate responses.
- Deep understanding of residential mortgage underwriting,
servicing guidelines, and regulatory requirements related to
mortgage servicing and subservicing.
- Proficiency in the review of mortgage documentation and a
thorough understanding of the mortgage life cycle. Skills &
Qualifications:
- Exceptional analytical skills, particularly in data analysis
and evaluation.
- Strong proficiency with Microsoft Excel and PowerPoint.
- Excellent written and verbal communication skills, with a keen
attention to detail.
- Strong interpersonal skills, with the ability to collaborate
effectively.
- Proven track record in managing and maintaining relationships
with external vendors.
- Excellent problem-solving skills and the ability to handle
multiple tasks and projects concurrently.
- Solid project management skills, particularly in managing ad
hoc and cross-functional projects.
- Demonstrated ability to work under pressure, manage tight
deadlines, and maintain a high standard of work quality.
- A high level of integrity and adherence to ethical
standards.
- Willingness to engage in continuous learning and professional
development.
- Flexibility to adapt to evolving business needs and dynamic
environments. Other Requirements:
- Requires the ability to lift, carry, push, pull weights or
otherwise move objects weighing as much as 10 lbs. on a regular
basis and/or for extended periods of time during the workday.
- Occasional overtime or extended hours may be required. We're a
culture that offers resources to benefit your
overall health and well-being:
- Employee Impact Groups
- Career Development and Mentorship Programs
- Generous paid time off, minimum 4 weeks
- Employee recognition, awards, and events
- Free vision insurance
- Retirement matching
- Tuition reimbursement This job description is not
designed to be a comprehensive listing of duties, responsibilities,
or
activities that are required for this job. Duties,
responsibilities, and
activities may change at any time with or without notice. Broadway
Bank
is proud to be an Equal Opportunity and Affirmative Action
Employer. Broadway
Bank is a drug-free and tobacco-free workplace, with a
nicotine-free hiring
policy. All qualified applicants will receive consideration
for employment without regard to race, color, ethnicity, religion,
sex, sexual
orientation, gender identity, national origin, disability,
protected veteran
status, genetic data or other legally protected status.
Member FDIC
Keywords: Broadway Bank, New Braunfels , MORTGAGE SUBSERVICING OVERSIGHT SPECIALIST, Other , San Antonio, Texas
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