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We are looking for an experienced Mortgage Servicing Payoff Manager to lead a critical servicing function in the greater Chicago area. This role oversees payoff operations, collateral release activities, and specialized loan servicing work while maintaining strong regulatory adherence and high service standards. The ideal candidate will bring deep mortgage servicing knowledge, sound operational judgment, and the ability to guide teams through quality, risk, and process improvement initiatives.
Job Responsibility
Direct day-to-day payoff administration and related servicing operations, ensuring work is completed accurately, on schedule, and in accordance with internal expectations
Lead the preparation and delivery of payoff quotes and final documentation, confirming adherence to regulatory deadlines, investor rules, and client service commitments
Oversee lien release, satisfaction, reconveyance, and collateral document processing, including compliance with state-specific recording requirements and statutory timeframes
Manage specialized servicing activities such as loan modifications, subordinations, assumptions, recasts, billing support, residency verification reviews, and other non-routine transactions
Maintain effective controls over payoff funds, suspense accounts, reconciliations, fee accuracy, escrow balances, and borrower instructions to reduce risk and support audit readiness
Partner with Compliance, Cashiering, Tax and Insurance, Default Management, and Investor Reporting teams to resolve escalations, improve borrower outcomes, and support broader operational goals
Supervise third-party vendors including recording partners, title providers, and document custodians to monitor service quality, compliance, and turnaround performance
Use reporting, quality metrics, and workflow analytics to identify trends, strengthen controls, improve productivity, and advance automation and continuous improvement efforts
Provide leadership for the department through performance management, coaching, employee development, and clearly defined daily, weekly, and monthly objectives
Requirements
At least 5 years of experience in mortgage servicing with strong exposure to payoff processing and collateral release activities
Demonstrated knowledge of mortgage loan administration, lien release practices, and servicing operations within a regulated environment
Experience leading teams with accountability for service quality, timeliness, compliance, and operational results
Familiarity with federal and state mortgage servicing requirements, as well as investor and client servicing guidelines
Ability to manage audits, quality control reviews, exception handling, and risk-based operational oversight
Strong analytical and organizational skills with the ability to interpret servicing data, monitor performance, and improve workflows
College degree or equivalent combination of education and relevant mortgage servicing experience
Proficiency in leadership, cross-functional collaboration, and communication within mortgage banking or mortgage operations settings