Ocwen Loan Servicing, LLC (NYSE:OCN) is an industry leader in residential and commercial mortgage loan servicing with a 20 plus year track record of success. Headquartered in Atlanta, Georgia, with offices in Florida, Texas and Washington, DC as well as support operations in India and Uruguay, Ocwen has been featured in Time Magazine, National Public Radio, New York Times, and other national publications for our innovation, dynamic growth and ability to successfully help homeowners across the US.
As a leader in loan modifications, we strive to help struggling families meet their financial responsibilities and stay in their homes as well as help them address the concerns and complex questions they may have about their home and mortgage. Helping homeowners is what we do!
The Manager, MAV Operations will be part of the team responsible for acquiring MSR for residential mortgage portfolios and, managing those portfolios, and overseeing third-party vendors. “MSR Asset Vehicle LLC (“MAV”) is a newly-created joint venture between Ocwen and an external institutional investor with a focus on the acquisition of Mortgage Servicing Rights (“MSRs”)”. This position reports to the Director of MSR Acquisition.
Responsibilities will include:
- Perform and assist in numerous operational and oversight functions at MAV, including performance of certain transaction management and subservicer oversight processes and/or oversight of external vendors performing these tasks
- Assist in the development of policies and procedures, including those for subservicer oversight
- Assist with purchase contract negotiation, including coordination with inside and/or outside counsel, and/or assist in review of contracts prepared by outside vendors
- Coordinate and oversee loan-level due diligence process including reviews of results with SMEs
- Coordinate with subservicer on servicing transfers
- Create, maintain, and deepen relationships due diligence firms, subservicer personnel, and other outside vendors
- Coordinate with sellers on all closing deliverables and payments or oversee third parties performing these functions
- Monitor post-closing contractually-required follow-ups and payments and endure compliance.
- Maintain ongoing reporting including pipeline reports
- Assist in all other operational aspects of MAV
Key Result Areas:
- Responsible for assuring the smooth, accurate and complete execution of all MSR acquisitions
- Oversee the transaction management processes for investments ranging from 200 to 400 million USD per annum and ensure all functions performed by third-parties are performed correctly and punctually
- Work with and drive cross-functional teams across multiple geographies to gather and share information and to ensure all relevant groups are informed of transactions
- Closely monitor subservicer for compliance with contract including contractually required service levels
- Produce high quality and actionable reporting on subservicer performance
- Bachelor’s degree required
- MBA or CFA preferred
- Mortgage Loan Originator license with a minimum of 5 years’ experience
- Preference for someone currently serving as a Qualified Individual (“QI”) for their current employer
- High degree of organization/detail-orientation and the ability to work on multiple tasks concurrently
- Ability to deal with ambiguity in a quick and effective manner
- Highly proactive and motivated self-starter with roll-up-the-sleeves work ethic
- Ability to work as part of a team and coordinate across the organization to ensure results
- Proficiency in the Microsoft Office suite, especially Excel