Principal Servicer Oversight

Who We Are

At Newrez, we bring big thinkers and caring doers together to make home happen. We’re a team built on heart and hustle, united by a commitment to show up for our customers, our communities, and each other. We believe that when our people thrive, homeowners thrive - and that’s why we invest in your growth, wellbeing, and ability to make an impact.

Every day, we work to exceed the expectations of our residential mortgage borrowers and business partners through superior service, simple processes, and clear communication. We do this by empowering our employees, encouraging innovative solutions and recognizing great performance.

The Principal Servicer Oversight oversees Servicers that report into Master Servicing through monitoring Rating Agency activity, news articles, completing and annual documentation review and “site” reviews. This position also reviews securitization and master servicing whole loan agreements for specific rights and obligation of both the master servicer and servicer and works with the various departments to ensure new contractual responsibilities are implemented.

Duties and Responsibilities

• Review transactional contracts for predefined rights and obligations.
• Work with Portfolio Specialists to ensure they are aware of new responsibilities and Secondary Buyout (SBO) system of record is properly updated.
• Maintain a daily servicer watch list which contains any items identified internally or externally that may impact the performance of the servicers.
• Develop an internal issues log to identify any internal control failures along with remediation.
• Track non-operational reporting requirements for securitizations such as quarterly notifications and annual certifications of audit requirements.
• Work with head of Master Servicing to complete and/or Quality Control (QC) servicer's annual documentation reviews and include any findings on the watch list.
• Assist management and team members to determine annual servicer review topics and specific concerns to be addressed using the watch list, departmental concerns and through reviewing the annual questionnaire.
• Support team through reviewing internal policies and procedures for completeness and controls.
• Performs related duties as assigned by management.

Qualifications and Education Requirements

• Bachelor's Degree preferable with business/accounting courses and evidence of servicer operational oversight related experience required.
• 7+ years' mortgage servicing experience; including experience in contract review, default, and investor reporting.
• Experience with SBO.net preferred.

Skills, Abilities, and Knowledge

• Understand how to read and follow securitization contracts for master servicing and servicing rights and obligations.
• Proficient in Microsoft Word and Excel.
• Proficiency in Structured Query Language (SQL) a plus.
• Excellent written communication.
• Understanding of servicing operations and risk control.
• Self-Motivated. Ability to work independently with minimal supervision.
• Understanding of mortgage lending and servicing
• Strong organizational, as well as the ability to meet strict deadlines.

Additional Information

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.

All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Okta Verify and Microsoft Authenticator. Employment will be contingent on this requirement.

By applying to this position candidate acknowledges that this is not a remote role and is required to be on-site.

A good faith estimate of the compensation is:

Compensation for this position may also include other elements, including medical, financial, various paid time off benefits, and a bonus based on individual and company performance, variable or annual.

Placement within the range will be based on a variety of factors, including but not limited to, skills, experience, qualifications, location, etc.

Additional Information:

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.

All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Microsoft Authenticator. Employment will be contingent on this requirement.

Why Newrez

We’re a great place to work because we invest in what matters: your career, your community, your wellbeing, and your future. Our total rewards package is designed to support your whole self.

Company Benefits:

We offer benefits, programs, and perks that support you in every aspect of your life.

• Medical, dental, and vision insurance

• Health Savings Account with employer contribution

• 401(k) Retirement plan with employer match

• Paid Maternity Leave/Parental Bonding Leave/Caregiver Leave

• Adoption Assistance

• Tuition & Certification reimbursement

• Employee Mortgage Loan Program

• The Newrez Employee Emergency and Disaster Fund is a program to support our team members experiencing hardships

Newrez NOW:

Through Newrez NOW, our Corporate Social Responsibility program, you’ll have opportunities to give back, lead, and make a difference.

• 1 company-paid Volunteer Time Off day (with over 40,000 volunteer hours contributed since our inception)

• Matching Gifts Program - dollar-for-dollar up to $1,000

• Access to grants, nonprofit resources, and volunteer opportunities

• More than $6,000,000 donated since 2020

• 1 in 5 employees participates in at least one Employee Resource Group (ERG)

Equal Employment Opportunity

We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.

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