Vice President-Loan Servicing

  • Michael Page
  • $205,500.00 - 205,500.00 / Year *
  • 201 E 45th St, New York, NY 10017
  • Full-Time

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The Vice President-Loan Servicing will manage the loan servicing team and monitor all functions related to loan servicing of our clients' Multifamily Portfolios. The will also oversee the booking of new loans onto their loan servicing system, application of loan payments in accordance with loan documents, tracking of key loan data and ensuring the input of all loan data to the system is accurate and complete.

Client Details

Our client was launched in 1974 through a joint agreement between the City of New York and its leading commercial banks to restore and rebuild New York's aging neighborhoods. In the more than 40 years since, they have evolved and expanded their reach to become a consistent source of capital to under-served housing markets throughout New York City and in communities across the state.


The Vice President-Loan Servicing will be responsible for:

  • Manage the loan servicing team. Perform ongoing review of organizational structure and make recommendations regarding necessary changes/adjustments.
  • Manage departmental customer/agency escalations, identifying appropriate resolutions to ensure a positive customer/investor experience.
  • Manage the training and development of staff in accordance with our client's, Investor, and Agency guidelines, policies and procedures.
  • Develop and maintain policies and procedures to meet Agency, Investors and our clients' guidelines.
  • Ensure all training programs, certifications and development courses are completed as scheduled and deliver semi-annual performance evaluations and ongoing coaching for staff.
  • Complete daily/weekly/monthly reporting requirements and assist the Director with various monthly reporting responsibilities, as directed.
  • Prepare audit responses, special project reports and project implementation reports.
  • Reconcile all monthly servicer postings entered at the loan level.
  • Monitor system capabilities to maximize efficiency. Set-up and review new system functions as new products are on-boarded.
  • Maintain loan servicing procedures, ensuring compliance with policies and internal controls.
  • Review and approve payoff letters and process receipt of payoff funds, including but not limited to: release of liens, UCC Cancellations, refunds and return of original collateral documents.
  • Monitor reports to identify delinquent loans, providing information to senior management and contacting borrowers, as needed.
  • Process all escrow account related functions, including but not limited to: monitoring of taxes, insurance and annual escrow analysis, disbursing funds or force placing insurance, as required.
  • Establish control/performance reporting to assist with the management of major activities and departmental projects.
  • Develop and implement initiatives targeted to improve business unit performance and productivity including continuously improving and automating processes for efficiency.
  • Establish reporting to measure key performance indicators around customer and Investor contact effectiveness.
  • Identify and implement opportunities to gain efficiencies within the department.
  • Collaborate with the Director, other division managers, department managers and staff on a regular basis.
  • Assist the Director with departmental projects, as necessary.


The ideal Vice President-Loan Servicing will have:

  • BA/BS required. Degree in Finance or Accounting preferred.
  • Minimum of 7 years' experience with a bank/financial or mortgage institution, with a focus on GSE or FHA servicing.
  • Minimum of 4 years' supervisory experience.
  • Extensive experience with multifamily mortgage industry best practices and ability to review existing business practices and make recommendations to upgrade Servicing platform to ensure appropriate industry standards for monitoring and control structures are in place.
  • Superior management, delegation, planning and interpersonal skills.
  • Strong organizational, critical thinking and problem-solving skills are required.
  • Excellent verbal and written communication skills.
  • Proficiency with Microsoft Word, Excel, Access, Project, Visio and PowerPoint required.

Job Offer

The Vice President-Loan Servicing will receive and competitive annual base salary in New York, NY.

Associated topics: bank, banking, cfa, chief finance officer, expense, finance, financial controller, pay, risk, treasure

* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.