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Servicer Oversight and GSE Relationship Manager

New York

Permanent Capital Vehicles

Ref#: 2313

Date published: 20-May-2019

About Fortress

Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $39.9 billion of assets under management as of December 31, 2018. Founded in 1998, Fortress manages assets on behalf of over 1,750 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term. For additional information on Fortress, please visit www.fortress.com.


About NRZ

New Residential Investment Corp. (NYSE: NRZ) is a publicly traded residential mortgage REIT with a market capitalization of approximately $7 billion that is externally managed by an affiliate of Fortress Investment Group LLC, a global asset manager. NRZ owns multiple dynamic and growing operating subsidiaries and a large portfolio of servicing assets, and has relationships with numerous origination, servicing, and real estate counterparties.  


About the Position

This is an opportunity to play a critical leadership role on an interdisciplinary team consisting of front office investment professionals, members of senior management, and leadership team members from accounting and legal / compliance. The Servicer Oversight and GSE Relationship Manager will be responsible for managing NRZ’s relationships with numerous servicing counterparties, critical vendors, and the GSEs, and will report to NRZ’s Chief Financial Officer and collaborate closely with other members across NRZ’s senior leadership.


Responsibilities

  • Serve as primary point of contact for relationships with Fannie Mae/Freddie Mac (GSEs) 

  • Serve as primary point of contact for operational oversight matters with operating subsidiaries, sellers, servicers, consultants

  • Supervise external parties responsible for handling loan-level inquiries, complaints, and requests from GSEs

  • Supervise management of loan-level audit requests / repurchase demands and coordinate resolution with subservicers

  • Manage repurchase demands and indemnification claims with sellers and subservicers

  • Participate in regular meetings with and presentations to GSEs on portfolio performance and subservicer oversight

  • Supervise completion and submission of GSE forms by internal entities and external parties

  • Support Subservicer Oversight/Compliance team members on GSE and regulatory compliance matters

  • Monitor subservicer and service provider performance 

  • Serve as primary relationship management contact for document custodians and MERS account representatives

  • Ensure operations, including those of servicing counterparties, comply with GSE requirements and internal policies/procedures

  • Escalate concerns or risks to Front Office/Subservicer Oversight/Compliance team members 

  • Support Subservicer Oversight/Compliance team with GSE and regulatory examinations and audits

  • Monitor changes to GSE Guides and changes in law applicable to the company’s business activities

  • Manage transactions in collaboration with Front Office/Subservicer Oversight team members, including relating to:

    • Acquisitions of mortgage servicing rights (including bulk acquisitions and flow/co-issue acquisitions)
    • Engagement of new subservicers
    • Engagement of flow/co-issue sellers of mortgage servicing rights
    • Financing matters, including tracking loan lists 


Qualifications

  • Minimum of seven years of mortgage servicing or origination operations, investor reporting, and/or compliance experience at one or more of the following:

    • Mortgage Servicer/Originator
    • Fannie Mae, Freddie Mac, Ginnie Mae
    • State/Federal Banking Regulator or Examiner


  • Working knowledge of mortgage servicing operations, including: 

    • Loan file quality control reviews
    • Loan repurchase requests
    • GSE Guides and GSE reporting/remitting requirements 
    • Document administration responsibilities (MERS, document custody, loan file research matters)
    • Servicing transfers
    • Management of customer and counterparty complaints and issues
    • GSE key performance indicators (metrics relating to customer care, delinquency, default management, loss mitigation, etc.) 

  • Experience working with industry participants and key counterparties, including:

    • GSEs, FHFA, state mortgage regulators
    • Servicers, originators, document custodians, MERS, rating agencies
    • External law firms and external advisors (consultants, auditors) 


  • Professional Skills

    • Strong management and leadership skills, with ability to supervise others and report to senior management  
    • Willingness and ability to familiarize with and utilize GSE websites and online resource
    • Willingness and ability to multitask, prioritize, and balance numerous projects and tasks
    • Excellent research, problem-solving, and analytical skills
    • Excellent verbal and written communication and presentation skills
    • Excellent organization skills, including tracking and following up on projects and issues through resolution 
    • Proficient in Microsoft Office (Word, Outlook, PowerPoint, Excel (including VLOOKUP, SUMIFS, pivot tables)
    • SQL or Tableau experience preferred but not required

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Fortress Investment Group LLC collectively with its subsidiaries and operating affiliates is an equal opportunity employer and considers all applicants for employment without regard to race, religion, creed, color, sex, age, national origin, citizenship status, disability, genetic information, protected veteran status, marital status, sexual orientation, gender identity, or any other status protected by federal, state or local law.