Summary:
The Manager, Bulk Acquisitions is responsible for providing oversight for functions within the Sales & Acquisitions department including: Bulk Acquisitions of Mortgage Servicing Rights (MSRs) in excess of $100 Billion annually and Inbound Repurchases, review of Purchase and Sale Agreements, negotiation of Servicing Transfer Instructions with sellers, obtaining Servicing Data and Loan Boarding for the acquired loans, Agency approvals, problem resolution, and QC/Regulatory audit reports and responses.
Essential Job Duties and Responsibilities:
Responsible for ensuring that all acquisitions are completed withing investor/PSA requirements.
Responsible for ensuring all acquisitions comply with all the complex, very large loan data and reporting requirements outlined in the signed Servicing Transfer Instructions to board Freedom’s Servicing System of Record.
Responsible for ensuring compliance with RESPA, CFPB and Agencies Guidelines when acquisitions board to Freedom System of Record and limit risk exposure to Freedom.
Responsible to ensure all agency submission requests directly to FNMA/FHLMC/GNMA on behalf of Freedom Mortgage comply with terms of the Sale agreements and Agency requirements preventing the denial of an acquisition for Freedom Mortgage or negative financial implications.
Ability to analyze and negotiate requirements of Purchase and Sales Agreements, Servicing Transfer Instructions and Letters of Intent to ensure Sellers can meet Freedom’s requirements within the Servicing Operational parameters and Compliance objectives.
Oversee the maintenance of key transfer documents to include but not limited to, Servicing Due Diligence Questionnaire, Servicing Transfer Instructions and Data Reporting to ensure all necessary Servicing Lines of business requirements and timelines are met for each acquisition.
Responsible for ensuring control reports, and reconciliations are completed accurately and timely to ensure all funds due to Freedom have been received and in compliance with Servicing Transfer Instructions and requirements.
Create task plans and action items for tracking projects, timelines adherence and completion of the projects.
Responsible for maintaining the Servicing Transfer Instructions and Questionnaire with any new Agency or line of business requirements.
Develop and maintain department policies and procedures.
Responsible for escalating matters in accordance with company policy.
Comply with all company policies and procedures.
Maintain regular and punctual attendance.
Other Job Duties and Responsibilities:
Performs other related duties as assigned.
Supervisory Responsibilities:
This position has direct reports. Manages staff and carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
Qualifications:
To perform this job successfully, an individual must be able to perform each essential function satisfactorily.
The requirements listed below are representative of the knowledge, skill, and/or ability required.
Strong knowledge of investor/PSA requirements, RESPA, CFPB and Agencies Guidelines
Ability to manage and mitigate potential risk exposure
Strong relationship building and communication skills with key agency stakeholders
Ability to implement and maintain robust compliance programs
Ability to provide training and guidance to relevant stakeholders
Strong analytical and negotiation skills
Ability to develop and implement effective quality control processes
Attention to detail
Strong organizational and time management skills
Ability to communicate with executive leadership regarding matters of significant importance to the organization.
Education and/or Experience:
High School Diploma/GED required
Bachelors Degree from a Four (4) year College/University and 8 years related experience and/or training; or equivalent combination of education and experience.
Certificates, Licenses, Registrations:
Not Required.
Work Complexity:
Problems and issues faced are moderately complex. Problems typically impact own department and maybe other departments. Problems are typically solved through drawing from prior experience and analysis of issues.
Work Environment:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Work is normally performed in a typical interior office work environment which does not subject the employee to any hazardous or unpleasant
elements. The noise level in the work environment is usually moderate.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.
Equal Employment Opportunity:
The company is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information, or any other basis protected by applicable federal, state, or local laws.
Americans with Disabilities Act:
Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-by-case basis in accordance with applicable law.
Job Responsibilities:
The statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. The company may change the specific job duties with or without prior notice based on the needs of the organization.