Residential Mortgage Manager - Grasshopper Bank : Job Details

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DescriptionGrasshopper Bank is a

Department: CreditLocation: RemoteDescriptionGrasshopper Bank is a client-first, digital bank built for the business and innovation economy, with an obsession for providing leading-edge technology, solutions-driven products and superior service through a combination of passionate people and digital resources.We are a highly experienced team who pride ourselves on diversity of thought and perspective. Nationally chartered, our portfolio of products and services range from VC, PE & Portfolio Companies to SBA Lending, as well as direct SMB and Embedded Banking.Our entrepreneurial drive allows us to support the growth and success of a wide range of clients at every stage of their business through inclusive partnership. We seek out team members who will enable both our organization and our people to grow and thrive through collaboration and acting with integrity and respect.Our focus on cross-functional teamwork provides a culture where ideas are valued, accountability is encouraged, and successes are celebrated. We welcome all those searching for the opportunity to contribute to banking innovation that influences and supports the emerging digital world of Financial Services.Our digital first approach enables our teams the flexibility to work remotely. We have offices in NYC and Boston.What You'll DoThe Residential Mortgage Manager is responsible for overseeing all aspects of the oversight of multiple 3rd party residential mortgage loan servicers and includes the active managementof all foreclosures for residential mortgage loans, from initial delinquency through property disposition. This critical role involves ensuring service level agreements (SLAs) are met and costs are controlled and strict adherence to complex federal, state, and local foreclosure laws and regulations. The Manager is responsible for developing recovery strategies to minimize losses while mitigating risk. The ideal candidate will possess extensive experience in mortgage default servicing, strong leadership capabilities, a meticulous attention to detail, and a proven ability to navigate the legal and operational complexitiesof residential foreclosures.Foreclosure Process Oversight & Strategy

• Manage the end-to-end foreclosure lifecycle, including referral to counsel, legal proceedings, property preservation, and ultimate disposition.
• Develop and implement foreclosure strategies to optimize outcomes, reduce loss severity, and ensure timely resolution of delinquent accounts.
• Monitor key performance indicators (KPIs) such as foreclosure timelines, loss severity, and compliance rates, implementing corrective actions as needed.
• Collaborate closely with internal departments including Loss Mitigation, Bankruptcy, Property Preservation, and Legal to ensure seamless transitions and

Coordinated Efforts.Vendor & Attorney Management

• Manage relationships with foreclosure attorneys, trustees, and other third-party vendors, ensuring service level agreements (SLAs) are met and costs are controlled.
• Conduct regular performance reviews of vendor partners, addressing any issues and ensuring high-quality service delivery.
• Review and approve legal invoices and vendor charges, ensuring accuracy and adherence to fee schedules.

Compliance & Risk Management:

• Ensure strict adherence to all federal, state, and local foreclosure laws and regulations, including but not limited to the Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), Fair Debt Collection Practices Act (FDCPA), and state-specific foreclosure statutes.
• Stay current with changes in regulatory requirements and legal precedents, implementing necessary policy and procedural updates promptly.
• Oversee quality control and audit processes for foreclosure files to ensure accuracy, completeness, and compliance.
• Identify and escalate potential compliance risks, legal challenges, or systemic issues to senior management and legal counsel.

Reporting & Analytics:

• Generate and analyze comprehensive reports on foreclosure pipeline, performance metrics, legal status, and loss projections.
• Provide regular updates and strategic recommendations to senior management regarding portfolio health and foreclosure trends.
• Utilize mortgage servicing platforms and foreclosure management software to track cases, document activities, and generate reports.

What You Need

• Minimum of 7-10 years of progressive experience in residential mortgage default servicing, with a significant focus on foreclosure processes.
• Minimum of 3-5 years of proven leadership or supervisory experience in a foreclosure or default servicing environment.
• In-depth knowledge of federal and state foreclosure laws, judicial and non-judicial foreclosure processes, and related consumer protection regulations.
• Experience with various loss mitigation strategies and their interaction with the foreclosure timeline.
• Exceptional understanding of mortgage loan servicing systems and foreclosure management software.
• Strong analytical and problem-solving skills, with the ability to interpret complex legal documents and financial data.
• Excellent verbal and written communication skills, capable of articulating complex legal and procedural information clearly.
• Proven ability to lead, motivate, and develop a team in a high-pressure, compliance-driven environment.
• Meticulous attention to detail and strong organizational skills to manage large volumes of critical documentation and deadlines.
• Ability to make sound decisions under pressure and adapt to changing regulatory landscapes.

Seniority level

• Seniority levelMid-Senior level

Employment type

• Employment typeFull-time

Job function

• Job functionFinance and Sales
• IndustriesBanking

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