Supervisor, Mortgage Default Management

Navy Federal Credit Union
Vienna, VA
Jun 14, 2018
Jun 15, 2018
Full Time
Employee Perks Why You Will Love Being Part of the Navy Federal Team: *Competitive compensation with opportunities for annual raises, promotions, and bonus potential*Best-in-Class Benefits! (7% 401k match / Pension plan / Tuition reimbursement / Great insurance options)*On-site amenities include fitness center, wellness center, cafeteria, etc. at Pensacola, FL; Vienna, VA and Winchester, VA campuses*Consistently Awarded Top Workplace*Nationally recognized training department by TRAINING Magazine IND123*An employee-focused, diverse, and service-oriented workplace environment Basic Purpose To supervise and plan the handling of delinquent mortgage and equity loans in collection, loss mitigation, bankruptcy, foreclosure, or Real Estate Owned status (homes owned and obtained by Navy Federal through foreclosure). To oversee the maintenance of records on past-due accounts and to limit and reduce losses in compliance with investor, insurer, state and Navy Federal objectives as well as established standards and regulations.Responsibilities:1. Supervises and plans mortgage and equity collection activity in accordance with policies, procedures and guidelines which include: reviewing and analyzing account information to determine the proper and most effective collection approach; contacting members, and internal and external collections counterparts by telephone and correspondence; collecting on delinquent accounts; and counseling mortgage and equity loan borrowers concerning their financial affairs, solutions to delinquency, and alternatives to foreclosure. Manages collection queues to ensure timely review of delinquent accounts. Researches and analyzes statistical collection reports including delinquency ratios; makes recommendations and implements loss reduction strategies. Analyzes complex and/or problem accounts to determine appropriate collection methods. Provides specialized counseling to members and resolves member complaints regarding collection activities. Originates reviews and approves correspondence to members.2. Directs the processing of loans in foreclosure, bankruptcy, loss mitigation and Real Estate Owned status. Analyzes recommendations for foreclosure prior to submission to Foreclosure Review Committee. Reviews and enforces guidelines for providing forbearance on payment plans and delegates the authority to approve forbearance. Approves forbearance and repayment plans outside established guidelines. Oversees and monitors the quality of casework by approved attorneys to ensure compliance with all regulations and requirements of VA, FHA, investors and insurers, and state and federal laws in all areas where Navy Federal conducts business. Reviews all unusual legal cases and ongoing litigation; stays up-to-date by maintaining contact with both internal and external sources (eg, attorneys, Mortgage Default Management Specialists, Security). Represents the credit union by testifying and/or acting as expert witness in court and at external legal proceedings and financial resolution meetings. Oversees working relationships between Navy Federal and its vendors (eg, attorneys, realtors, investors and insurers); reviews/evaluates business interactions and performance and takes action to correct problems/issues. Manages business relationships to maintain responsive and productive communications and associations.3. Performs supervisory duties: selects employees; prepares and delivers performance appraisals and staff desk audits; schedules staff and work assignments; counsels employees, provides guidance, and oversees employee training and development for all aspects of mortgage and equity collections, including communications techniques, financial counseling and analysis. Monitors recorded and live telephone calls to determine the effectiveness of the counselors and specialists. Serves as the Manager, Mortgage Default Management in absence of the incumbent. Directs/leads and serves as a team member on projects and task groups.4. Researches and remains cognizant of mortgage and collection industry trends, as well as Federal, state, investor and insurer regulations regarding collections, foreclosure, bankruptcy and loss mitigation.5. Performs other duties as assigned or appropriate.Qualifications -- Knowledge, Skills and Abilities:Required:* Demonstrated experience in the collection of delinquent mortgage and equity loans that indicates a thorough knowledge of mortgage industry collection policies and practices and skill in applying these to the collection of delinquent loans* Thorough knowledge of state and federal laws affecting the collection of delinquent mortgage and equity loans; real estate, bankruptcy and foreclosure, loss mitigation and real estate owned activities; and FNMA, FHLMC, GNMA, VA, FHA and private mortgage investors and insurers mortgage collection, bankruptcy and foreclosure processes/policies* Experience that demonstrates strong knowledge of loss mitigation process, investor and insurance issues* Skill in communicating information to others, both orally and in writing, including skill in persuading and negotiating, interpreting complex legal policies and procedures, and counseling members about their mortgage and equity accounts* Proficiency in leading, guiding and directing others in completing projects or work assignments in a timely manner* Strong organizational, time management, analytical and problem-solving skills* Demonstrated ability to supervise* Skill in interacting with others while maintaining tact and confidentiality* Proficient in the use of personal computers and associated software (eg, word processing, spreadsheets, etc.)Desired:* Working knowledge of Mortgage Servicing systems and other related Navy Federal systems* Education above the high school level in business, finance, mortgage banking or related fieldHours:Monday-Friday, 8:00AM-4:30PM, some overtime may be required Equal Employment Opportunity Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability