Loan Servicing Operations Specialist
MaineHousing | Augusta, ME
Primary Purpose of Position: The Loan Servicing Operations Specialist administers loan servicing procedures, financial reporting, and regulatory functions for MaineHousing’s Single Family and Home Improvement loan portfolios. This position serves as a resource to our servicing partners and conducts servicer site visits, quality control reviews, and servicer evaluations. The Loan Servicing Operation Specialist also provides regulatory, analytical and technical support to the Loan Administration staff, customers and partners and serves as the primary resource for the loan servicing’s software/database system.
Education /Experience: Bachelor’s Degree and four years of financial experience in mortgage banking and/or real estate office or a combination of education and experience preferred.
- Provide technical support to internal and external partners.
- Develop and maintain knowledge of loan servicing procedures, policies, processes, systems and related federal and state regulations and mortgage insurance or government guarantor requirements.
- Meet and communicate with Loan Servicers and mortgage insurance or government guarantor partners regularly to understand their operations and current issues.
- Provide technical assistance, verbally and in writing to internal and external partners.
- Serve as a resource and trainer for MaineHousing’s loan servicing software/database.
- Perform servicer evaluations and quality control audits to identify non-compliance in the application of loan servicing and all reporting requirements related to federal, state, mortgage insurance/guarantor, and Consumer Financial Protection Bureau regulations and policies.
- Identify deficiencies and areas of non-compliance with loan servicing policies and procedures.
- Prepare supporting work papers and audit reports.
- Determine potential causes of any deficiencies and make recommendations to management for resolution.
- Communicate problem areas and follow up with internal and external partners to effect resolution.
- Report material findings of violations of federal regulation, insurer guidelines or suspicious loan activity to management.
- Evaluate internal control processes and procedures to ensure effective handling of servicing operations, make recommendations for improvements in efficiency and effectiveness.
- Identify program risks and/or operational inefficiencies, prepare reports and communicate results and recommendations to management.
- Work with external partners, Servicers, Loan Servicing staff and other Agency staff in identifying solutions.
- Implement recommended solutions or corrective actions.
- Coordinate regulatory audits between Loan Servicers, mortgage insurance providers or government guarantors and Federal Regulatory agencies.
- Retrieve the loan files selected to be audited from Loan Servicers.
- Review and determine quality of documentation received, request corrective or additional information, if required.
- Forward applicable loan files and documents to audit agency for review. Follow up to ensure retrieval of all documents upon conclusion of audit.
- Evaluate the findings report; assist in response preparation, if required.
- Recommend and implement corrective actions, if required.
- Assist customers and internal and external partners with various requests.
- Provide technical assistance, verbally and in writing, to internal and external partners, and customers regarding loan servicing requirements and portfolio data.
- Interpret and communicate guidelines, and review and approve various servicer and customer requests.
- Develop a strong working relationship with partners.
- Facilitate conflict areas with diplomacy.
- Analyze data and prepare technical reports.
- Compile and analyze data from the loan servicing system/database.
- Prepare technical reports and complete various paperwork for internal and external partners as needed
- Prepare routine weekly, monthly, quarterly, and annual reports.
- Develop, coordinate, and facilitate training programs for internal and external partners
- Identify training needs associated with loan servicing functions
- Prepare, coordinate, and conduct loan servicing training sessions for MaineHousing staff and external partners.
The starting hourly rate for this position is $17.1014, plus a comprehensive benefits package.