Supervisor, Special Products
Cenlar is the nation’s leading mortgage loan subservicer. Our unique culture is defined by our core values of respect, trust, integrity and care. A promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career.
The Supervisor, Special Products is responsible for the supervision of the Special Products department, including the staff and functions for Special Product loan types and provides special services for clients. The position requires ensuring staff are performing all functions within compliance with any applicable Federal or state regulations and within investor guidelines. The Supervisor requires oversight of staff to ensure they are perform all revenue activities within guidelines, and that additional revenue opportunities are being explored. This position is responsible for staff annual assessments, e-time, the production and management of staff production/quality metrics and staff scorecards. This Supervisor is required to meet with clients, investors, and auditors and explain department processes and is responsible for the encouragement, coordination, and oversight of process improvement activities.
Responsilities:
Staff Oversight Functions
- Prepares staff performance assessments annually
- Prepares monthly department production and quality
- Creates and monitors staff scorecards and all related staff metrics
- Reviews and approves staff time cards and staff vacation/sick day requests
- Assists department manager with production and analysis of Staffing Model
- Performs all department manager duties in department manager’s absence
- Interviews and vets new candidates
- Ensures proper training and resources/tools are provided to new hires
- Holds monthly meetings personally with staff and report to management on staff issues (or ensure department team leader performs)
- Holds one on one meetings personally with staff individually on a bi-weekly basis-provide regular feedback to employees on performance (or ensure department team leader performs)
Primary Functions
- Ensures staff is performing all functions and testing relevant to Federal and state regulatory guidelines (e.g. RESPA, TILA, ECOA, SCRA)
- Discusses all department functions with auditors, investors, clients and prospects upon demand-meeting with all clients and providing accurate and detailed information to these entities of department processes and controls
- Ensures all department P&P are reviewed semi-annually; ensure all P&P are in compliance with newest regulations
- Actively promotes and initiates process improvement suggestions and working to reduce work hours for each function
- ARMS-Ensures all ARM Notices are being sent timely and ARM daily exceptions reviewed and resolved. Ensures all training material is accurate and up to date for Special Products and Call Center staffs. Ensures all appropriate Quality testing is being completed
- SCRA-Ensures all SCRA setups are being completed accurately and notices sent timely. Ensures quarterly DMDC reviews are being done within each quarter. Ensures all training material is accurate and up to date for Special Products and Call Center staffs. Ensures all interaction/processes with Default are expedited. Ensure all appropriate Quality testing is being completed
- Assumptions- Ensures all Assumption packages are processed and underwritten in accordance with RESPA, ECOA, TILA regulations. Ensures all necessary internal checklists are updated and accurate to any rule changes. Ensures all training material is accurate and up to date for Special Products and Call Center staffs
- Retention Modifications-Ensures all Modifications are being prepared accurately and all system changes are completed and verified. Works with department manager on creation of client SOW’s for each new client
- Step Rates-Ensures all Step rate Notices are being sent timely and ARM daily exceptions reviewed and resolved. Ensures all training material is accurate and up to date for Special Products and Default staffs. Ensures all appropriate Quality testing is being completed
- Subsidy Loans-Ensures all Buydown loan subsidy funds are reconciled monthly and setups verified. Ensures all Section 8 loan funds are reconciled monthly, and all payment changes performed and verified.
- HUD Holder Reconcilement-Monthly reports and reviews are performed to ensure HUD Holder ID accuracy. Specific client reports produced twice monthly
- Controls-DI exception and QC testing is performed for all of the above functions; monthly risk and quality control test reporting
- Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar’s reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
Qualifications:
- Bachelor’s Degree or equivalent experience
- Minimum of 5 years of mortgage banking or financial institution experience, including at least 3 years in a Supervisory or lead position
- Excellent leadership skills
- Excellent organizational skills (Project Management a plus)
- Ability to multi-task
- Detail Oriented
- Excellent Customer Service Skills
- Ability to work with all levels within an organization
- Excellent Interpersonal skills
- Dependable/Reliable
- Good math aptitude
- Effective communication skills (both verbal and written)
- Experience in tax/hazard insurance areas, including loss draft claim handling preferred
It is critical that you have an understanding of the following:
- Requirements under the Equal Credit Opportunity Act (ECOA) specifically:
- notifications of action taken, ECOA notice, and statement of specific reasons,
- notice of incomplete applications, and
- specific rules concerning use of information.
- Requirements under the Truth and Lending Act (TILA) specifically:
- rate adjustments with corresponding change in payment, and
- initial rate adjustments.
- Requirements under the Servicemembers Civil Relief Act (SCRA) specifically, maximum rate of interest on debts incurred before military service and mortgages and trust deeds.
Total Rewards:
At Cenlar, you’ll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.
Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.
