Distressed Portfolio Manager

Description

Primary Purpose of Position: The Distressed Portfolio Manager oversees all aspects of troubled residential loans including Collections, Foreclosures, Bankruptcy, Property Preservation, Title Resolution and various Loss Mitigation programs. The position also ensures compliance with all federal and state, mortgage insurer and guarantor requirements and program policies, and conducts assessments to ensure compliance. This individual also provides analytical and technical support and guidance to internal and external partners. 

Core Functions:

Supervise, coach, and develop staff

• Provide guidance to staff in the performance of their job responsibilities and resolving problem situations
• Conduct regular coaching sessions with staff
• Work with staff to develop department and individual goals
• Determine and realize training needs of staff 

Manage activities associated with the resolution of problem loan situations in order to find solutions to maintain homeownership and mitigate losses.

Manage activities associated with the handling and monitoring of bankruptcy accounts. 

Manage activities associated with foreclosures to ensure they are performed in accordance with State law, various regulations, policies and procedures. 

Manage activities associated with property preservation requirements and ensure compliance with applicable guidelines. 

Oversee financial aspects of defaulted loan portfolio including foreclosure expenditures, hazard insurance claims, and receipt of loan principal and interest.

Ensure compliance with various Federal and State regulatory and legal requirements, MaineHousing policies and procedures, and mortgage insurance/guarantors guidelines related to default servicing. 

Enforce MaineHousing policies and procedures and facilitate the resolution of problem situations with Loan Servicers, mortgage insurers, and government guarantors. 

Develop, coordinate and conduct training programs for staff and external servicing partners related to all default servicing requirements. 

Other duties as assigned.

Requirements

Education and Experience: Education and four years of financial and regulatory experience in mortgage banking and/or real estate office and two years of management or coaching experience preferred. 

Skills and Knowledge: 

· Ability to effectively lead and supervise others 

· Knowledge of Fair Debt Collection Practices Act (FDCPA), Real Estate Settlement Procedure Act (RESPA), Consumer Financial Protection Bureau (CFPB), Bankruptcy Code, and the State of Maine regulations related to Collections, Loss Mitigation and Foreclosure requirements 

· Experience with financial analysis reviews and report preparation

· Excellent written and oral communication skills; including formal report writing

· Ability to work collaboratively and effectively as a team member

· Ability to multi-task and demonstrate strong problem solving and decision-making skills

· Ability to complete detailed research and pay critical attention to detail

Working Conditions: Fast paced environment with multiple priorities, interruptions and deadlines. MaineHousing office hours are Monday – Friday from 8:00am to 5:00pm.

Reports To: Director of Homeownership

Supervises: Loss Mitigation Specialist, Foreclosure Specialist and REO Asset Manager

The salary range for this position is $78,886 - $118,331.  All new employees will start at the annual salary of $78,886, unless otherwise agreed to by MaineHousing.  We offer a great benefits package, including, but not limited to, health, dental and vision, retirement options with employer match, life insurance, short and long-term disability, employee assistance, and generous earned time allotment and all major federal holidays. Employment is eligible for the Public Service Loan Forgiveness Program.