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Manager, Recourse & Recovery, Correspondent Lending Operations

Job ID: 1002350
Company: PHH Mortgage

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Job Description

The Manager, Recourse and Recovery for Correspondent Lending will be the central point of contact, working with various internal departments, to oversee the recourse and recovery of outstanding invoices of PHH counterparties. As we build out our capabilities within the Correspondent team, this role will look after creation and distribution of counterparty invoicing, maintaining reporting and record keeping for open receivables, invoicing discussions with counterparties, present findings monthly and effectively communicate results with various levels of management. This role joins a newly formed team that focuses on the experience of our sellers and the successful candidate will keep the experience of our lenders central to how they perform their role and design processes to support the channel.

Job Functions and Responsibilities:

  • Development of a project plan to bring the current separate invoicing processes into one consolidated process
  • Work with key team members from various departments to understand their current invoicing responsibilities to assist in creation of new role/department
  • Work with vendors to determine the best accounts receivable system for creation and tracking of the invoicing process and implement cross functionally within our organization the solution
  • Work with accounts receivable vendor to customize software to fit identified invoicing needs as they evolve
  • Create monthly Correspondent Lending counterparty invoices from various internal departments
  • Lead distribution of monthly invoices to the counterparties main point of contact for collection
  • Collaborate with PHH internal accounting department to reconcile invoice totals and outstanding receivables
  • Act as the central point of contact for all counterparty inquiries regarding invoices both by phone and email
  • Develop and maintain accurate records and reporting of all invoice types and outstanding's owed as well as identifying how received funds should be applied to appropriate groups.
  • Develop monthly reconciliation process to track outgoing request and incoming payments for multiple business channels.
  • Create path of escalation for follow up on unpaid invoices from Correspondents
  • Must be able to effectively communicate, written and verbally, with various levels of management

Key Result Areas:

  • Create slides and present findings during the monthly Credit Working Group meeting, ability to highlight potential risks to senior management
  • Ability to communicate effectively and in line with our customer service standards with clients and collected on funds owed
  • Ability to lead and influence indirect reports and direct reports as the business grows
  • Ad-hoc reporting - Gather data, anticipate reporting needs and work on ad-hoc reporting for senior management and risk presentations


To perform this job successfully, an individual must have the following education and/or experience:

  • Bachelor's degree in Business, Finance or Accounting major preferred
  • Comprehensive project management experience required, at least 5 years
  • 5+ years prior experience working in the mortgage industry is required
  • General mortgage or accounting knowledge including, but not limited to, underwriting, capital markets, servicing, or risk
  • Risk management experience in a financial/mortgage company is preferred
  • Strong analytical skills and knowledge of financial and accounting fundamentals
  • Outstanding communication skills, both oral and written, and the ability to communicate clearly at all levels of the organization
  • High proficiency with Microsoft Office products (Excel, PowerPoint) is required
  • High level of professionalism, self-motivation and a strong sense of urgency
  • Must be very detail ordinated
  • Knowledge of SQL, Excel Macros and dash boarding tools is helpful

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.

About Us

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.

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