Distressed Portfolio Manager

Primary Purpose of Position: The Distressed Portfolio Manager oversees all aspects of troubled residential loans including Collections, Foreclosures, Bankruptcy, Property Preservation, Title Resolution and various Loss Mitigation programs. The position also ensures compliance with all federal and state, mortgage insurer and guarantor requirements and program policies, and conducts assessments to ensure compliance. This individual also provides analytical and technical support and guidance to internal and external partners.

Core Functions:

Supervise, coach, and develop staff

• Provide guidance to staff in the performance of their job responsibilities and resolving problem situations
• Conduct regular coaching sessions with staff
• Work with staff to develop department and individual goals
• Determine and realize training needs of staff

Manage activities associated with the resolution of problem loan situations in order to find solutions to maintain homeownership and mitigate losses.

Manage activities associated with the handling and monitoring of bankruptcy accounts.

Manage activities associated with foreclosures to ensure they are performed in accordance with State law, various regulations, policies and procedures.

Manage activities associated with property preservation requirements and ensure compliance with applicable guidelines.

Oversee financial aspects of defaulted loan portfolio including foreclosure expenditures, hazard insurance claims, and receipt of loan principal and interest.

Ensure compliance with various Federal and State regulatory and legal requirements, MaineHousing policies and procedures, and mortgage insurance/guarantors guidelines related to default servicing.

Enforce MaineHousing policies and procedures and facilitate the resolution of problem situations with Loan Servicers, mortgage insurers, and government guarantors.

Develop, coordinate and conduct training programs for staff and external servicing partners related to all default servicing requirements.

Other duties as assigned.