We deliver on this mission by empowering our employees by encouraging and recognizing superior performance and innovative solutions, by promoting teamwork and divisional cooperation.
Primary Function
The Sub-Servicer Oversight Operations Specialist will support the Sub-Servicer oversight program. This position supports the various oversight, compliance, and operational functions including but not limited to repurchase management, and collateral management.
Principal Duties:Manage and support repurchase pipeline for both Fannie Mae and Freddie Mac.Distribute loan file and missing document requests, notice of defects, repurchase demands, etc. to appropriate counterparties.Track incoming responses and upload timely to GSE websites.Facilitate the repurchase and/or the indemnification process including post repurchase process (service transfer, collateral release, etc.).Create and distribute weekly repurchase trackers and obtain updates for counterparties.Ensure all MERS produced mandatory reports are accurate as they are populated.Process deactivations in the MERS system for PIF, Short Sale, DIL, Default, and Bankruptcy, or transfer to Non-MERS (once recorded AOM is provided by client).Confirm TOB & TOS (transfer of servicing) batches from our sub-servicers in MERS.Assign appropriate sub-servicers in MERS on all loans.Conduct monthly reconciliation of all MERS required fields.Provide data/documentation requested for MERS Document reviews on selected MINs to stay in compliance.Oversee and manage relationships with document custodians to ensure timely recertification for accurate reporting and to resolve agency exceptions with seller, sub-servicer, and agency teams for loans to be recertified.Resolve document exceptions with seller and sub-servicers for loans to comply with company’s ancillary agreement and Agency requirements.Work with current and previous sub-servicers on aged outstanding invoices due to FNMA.Look at loan history and verify the transfer/sale date on escalated invoices.Work with our sub-servicers to confirm the breach date, bill type, any prior settlements with FNMA, current payment status, rebuttals, and to provide detail comments/support to FNMA in a timely manner.Performs related duties as assigned by management.Education and Experience
Bachelor's degree in Business related field.2 + years’ experience working in a financial business.Knowledge, Skills, and AbilitiesExcellent communication skills.Excellent administrative and organizational skills.Ability to work independently and as part of a team.While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.
By applying to this position candidate acknowledges that this is not a remote role and is required to be on-site.
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All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Okta Verify and Microsoft Authenticator. Employment will be contingent on this requirement.
Company Benefits:
• Medical (including Health Savings Account & Flexible Savings Account)
• Dental - RX – Vision – Life, Disability Insurance – 401(k) Plan with company match! – Employee Assistance Plan
• Performance-based Incentives
• Pet Insurance
• Advancement Opportunities
Newrez NOW:
• Our Corporate Social Responsibility program, Newrez NOW, empowers employees to become leaders in their communities through a robust program that includes volunteering, philanthropy, nonprofit grants, and more
• 1 Volunteer Time Off (VTO) day, company-paid volunteer day where all eligible employees may participate in a volunteer event with a nonprofit of their choice
• Employee Matching Gifts Program: We will match monetary employee donations to eligible non-profit organizations, dollar-for-dollar, up to $1,000 per employee
• Newrez Grants Program: Newrez hosts a giving portal where we provide employees an abundance of resources to search for an opportunity to donate their time or monetary contributions
Equal Employment Opportunity
We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.
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