Permanent Capital Vehicles
Date published: 20-May-2019
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.
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.
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:
Minimum of seven years of mortgage servicing or origination operations, investor reporting, and/or compliance experience at one or more of the following:
Working knowledge of mortgage servicing operations, including:
Experience working with industry participants and key counterparties, including:
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.