The Director of Capital Markets Delivery, Data Quality & Transaction Management Operations is responsible for the day-to-day operations of Capital Markets investor loan delivery including forward and reverse originations to Fannie Mae, Freddie Mac, Ginnie Mae and/or private investors, as applicable. The Director is responsible for ensuring timely and efficient settlements and maintenance of profitability, as well as for investigating and resolving pool or delivery discrepancies. In addition, the Director is responsible for ensuring the loan level data quality in accordance with selling guidelines, ULDD delivery requirements, contracts and/or commitments, as well as for investigating and resolving and data eligibility issues and ensuring the consistency, accuracy and overall quality of loan data throughout the loan delivery and settlement process. Additional responsibilities include the management of transaction operations including data file creation, due diligence coordination, collateral delivery oversight, and contract negotiations pertaining to whole loan sales, EBO transactions, deal calls, scratch and dent, and reconstitutions.
Job Functions and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Examples below:
- Assist in the implementation of the Capital Markets Operations infrastructure including the development, testing and use of all systems, procedures and policies relative to investor loan delivery including forward and reverse originations to Fannie Mae, Freddie Mac, Ginnie Mae and/or private investors and other Capital Markets operations activities. Ongoing responsibility for testing, updating and maintaining final investor loan delivery systems.
- Manage the delivery of loans on appropriate systems in accordance with best execution. Write syntax as needed for pools to conform to best execution and agency guidelines/contracts. Investigate and resolve trade discrepancies. Assist with investigate and resolution of pool discrepancies with GSEs/investors.
- Prepare pools for investor delivery including loan level eligibility and final data validation review to ensure compliance with product requirements, GSE requirements, investor contracts and/or mandatory commitments.
- Perform loan quality/eligibility checks prior to delivery to ensure highest product quality from a loan delivery perspective. Communicate with upstream and downstream business partners on suggestions for process improvements as well as updating of loan-level data. Lead projects as required from the business side to improve loan data quality.
- Manage pool delivery to GSEs/investors including communication with document Custodian for the movement of collateral as needed. Investigate and resolve pool discrepancies with GSE/investor.
- Manage operations of GSE early funding programs, including execution of documentation for submission to GSEs, reconciliation of early funding amounts, forecasting and communication to Trader of inventory available for early funding.
- Manage transaction operations from the time of trade through settlement, including data file creation/coordination, due diligence coordination, collateral delivery oversight, and contract negotiations (mortgage loan purchase and servicing agreements, servicing agreements, bid letters, custodial agreements, etc.). Transactions include but are not limited to whole loan sales, EBO transactions, deal calls, scratch and dent sales, and reconstitutions.
- Oversee the duties of the Delivery and Data Quality Team.
- Develop and maintain monthly settlement calendar that contains information pertinent to delivery and settlement of pools.
- Update Capital Markets policies, procedures and systems to reflect GSE announcements, new products/ program changes relating to loan delivery. Lead projects as required from the business side to implement new products/programs and/or changes in existing products/programs.
- Manage all internal and external reviews and audits, including SOX.
- Collaboration with internal groups to ensure timely, accurate and efficient loan deliveries and settlements.
To perform this job successfully, an individual must have the following education and/or experience:
- Bachelor’s degree preferred or seven to ten years related Capital Markets experience
- Strong knowledge of GSE guidelines and procedures.
- Understanding of the transaction management process, in particular, due diligence coordination, loan data tape creation, contract negotiations and settlements. Ability to work collaboratively with outside counsel, due diligence firms, investment bankers and other transaction parties.
- Ability to partner with various internal departments to ensure effective implementation of time-sensitive initiatives and identify deficiencies and room for improvement.
- Working knowledge of the current mortgage banking practices, particularly and in-depth understanding of custodial, warehouse and settlement processes and policies.
- Excellent written and oral communication skills.
- Excellent interpersonal skills.
- Strong multi-tasking skills with the ability to manage strict deadlines.
- Strong analytical and problem-solving skills.
- Ability to work collaboratively with management, clients, peers, subordinates, and outside business partners including due diligence firms, counsel and broker dealers.
- Self-starter that has the ability to lead while working under pressure in order to meet deadlines in a constantly changing environment.
Training / Licensing Requirements:
- Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
Ocwen and its subsidiaries are proud to be equal opportunity workplaces. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.
This position is not eligible to be performed in the state of Colorado.
Company: PHH Mortgage
PHH Mortgage, a wholly owned subsidiary of Ocwen Financial Corporation, is one of the largest subservicers of residential mortgages in the United States. PHH Mortgage provides servicing solutions to companies who own mortgage servicing rights and offers portfolio retention services to extend and enhance customer relationships.
PHH has been providing mortgage lending and servicing solutions since 1984 and is dedicated to responsible and ethical practices while delivering an exceptional customer experience. We strictly focus on subservicing and portfolio retention allowing our diverse professional clients – representing some of the largest and most recognizable financial and wealth management institutions, investors of MSRs, regional and community banks, and credit unions – to concentrate on their core businesses, while providing borrowers with exceptional customer service throughout the life of their loans.
Adhering to the highest levels of risk and compliance, built to bank-like standards, we build relationships with our clients and their customers to promote a philosophy of retaining “customers for life.” We strive to be a natural extension of each client’s team, helping them to keep their expenses down, borrowers satisfied and service levels up while meeting today’s regulatory demands and changing market conditions.
Ocwen is proud to be an equal opportunity workplace and is an affirmative action employer. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.
This position is not eligible to be performed in the state of Colorado.