Job Summary
The Loss Mitigation Business Analyst ensures that the Loss Mitigation (Functional Area) default servicing functions performed by the third party servicer(s) meet contractual obligations, investor guidelines, regulatory and legal requirements and follow generally accepted servicing practices. Also insure the Functional Area processes are completed within GSE and insurer timeframes while meeting all regulatory and compliance requirements in an effort to decrease compensatory fees. This role requires in depth knowledge of the Functional Area processes and all associated investor and regulatory guidelines. Further, this position requires interaction with vendor personnel and management, Flagstar personnel and management, mortgagors, regulators, investors, insurers and attorneys.
Job Responsibilities:
Responsible for understanding and, as required, evaluating and analyzing loan level issues associated with underlying process(es) to ensure compliance with/adherence to applicable contractual obligations, investor guidelines, regulatory and legal requirements, and Default Servicing Vendor standards.
Supporting the representation of the Functional Area, owns responses and responsiveness to internal risk partners (quality control, risk, compliance, and internal audit), internal business partners (e.g. Customer Engagement Center), external partners (investors/insurers), and other partners (e.g. MSR owners)
Understand, manage, and where applicable, perform necessary primary work associated within Functional Area when it cannot be performed by third party vendor in existing model
Staying abreast of all Functional Area regulatory, state, and investor/insurer requirements impacting default oversight operations.
Supporting the management and continued enhancement of default servicing testing plans, standards, and policies and procedures for compliance with regulatory, investor/insurer requirements.
Demonstrates a high level of creativity and critical thinking to address problems decisively and develop effective solutions. Reinforces culture of shared ownership and accountability for results.
Collaborating with other default servicing teams, and other internal teams, to assist in the continued development of a best in class default servicing oversight operation.
Adhere to all regulatory and complianceissues linked to the job and the team and understand how these issues help the bank achieve the vision of remaining an independent bank.
Job Requirements:
* Bachelor's Degree
* 3 y ears of comparable work experience
* -3 + years of default servicing experience in banking or financial services in Functional Area
* -Broad exposure to CFPB, OCC, and investor/insurer requirements
* -2+ years of experience with servicing systems, including MSP/BKFS templates, and Loan Sphere
* -2+ years of vendor management experience in Default Servicing (strong preference)
* Strong problem solving & strategic thinking skills with the ability to identify problems and recommend solutions
* Exceptional written and oral communication including facilitation & summarization skills to drive action and results
* Must be highly organized and have a strong attention to detail including the ability to create and maintain documentation
* Ability to work with, lead and consult with all levels in the organization up to and including executives
* Have an innate ability to understand very complex processes and systems, immediately and intuitively understanding how they work and how they can be improved
* Adjusts positively to quickly-changing priorities and shifting goals
* Ability to interact professionally with a diverse group: executives, managers, vendors, and investors
* Strong ability to work with a sense of urgency in a fast pace environment
