Ocwen Financial Corporation (NYSE: OCN) is one of the largest independent mortgage loan servicers in the United States. Ocwen is widely recognized in government, industry, community and media circles as a leader in foreclosure prevention, mainly through loan modifications. Ocwen has been featured in Time Magazine, National Public Radio, ABC News, the New York Times, the Wall Street Journal and other national publications for our innovation, dynamic growth and ability to provide win/win solutions for the distressed homeowners and loan investors we serve.
Ocwen’s legal department supports a broad range of business groups in a constantly changing and growing area. As a public company filing with the NYSE, Ocwen has a strong commitment to best corporate governance practices. Our legal department is comprised of highly experienced leaders that excel in today’s dynamic work environment. As a result of tremendous growth we are expanding our 70 person legal department and seeking a high energy, fast paced individual experienced with consumer financial services regulation, mortgage loan and servicing purchases and sales, warehouse lending, borrowing and compliance management.
The position of Assistant General Counsel, Loan Origination and Capital Markets will report to the Vice President and Deputy General Counsel. This position will have exposure to a wide variety of management level employees in multiple Business Units throughout the Company including Executive Management. This position is primarily responsible for supporting the Company’s existing and evolving residential mortgage loan fulfillment services as they apply to various mortgage products and clients throughout the mortgage lifecycle: origination, correspondent markets, servicing, default, and asset management.
This position will be responsible for providing legal support to the business units that provide valuation, loan processing, loan underwriting, due diligence, and other mortgage fulfillment services, and this position will provide support to certain business units that are subject to certain state license requirements applicable to mortgage loan companies, bankers, broker, and originators, contract processing and underwriting, and appraisal management companies.
- Development and maintenance of a legal program specific to the Origination Services business lines
- Assisting in the development and maintenance of policies, procedures, training, monitoring, reporting, and risk assessment, to further expedite and improve legal services that support the Origination Services business lines
- Provide rapid, practical, business-oriented legal/commercial advice for various Business Units, Compliance and Management regarding the Company’s Origination Services businesses, including certain licensed entities
- Apply innovative problem-solving skills and practical business judgment to maximize revenues, minimize risk
- Conducting analysis of residential mortgage loan laws and regulations, such as UDAAP, TILA, SAFE Act, ECOA, FCRA, RESPA, when applicable
- Assist in the development and maintenance of a legal applicability matrix for Business Units and/or specific services/products
- Explain the law and its implications to the client to support business decisions and document such advice in a sustainable and business oriented format
- Assist in the review, mark up/draft of high volume, third party, commercial contracts, including master services agreements, statements of work, licenses, RFPs, and RFP responses and supporting documents applicable to the Origination Services business lines, with minimal support from senior staff
- Assist in identifying opportunities to draft sustainable template forms and agreements, particularly for new and evolving businesses and services
- Support business clients in negotiating commercial contracts
- Support special projects, initiatives, and corporate transactions that apply to the Origination Services business lines
- Juris Doctor from a nationally recognized law school required
- Admitted to a state bar and eligible to practice under the New Jersey In-House Counsel rules
- Minimum of 7+ years of proven experience in a senior attorney role working with a mortgage origination and/or servicing organization in a similar capacity, and has demonstrated the ability to organize research on the subject matter, and establish and implement procedures consistent with the published guidelines
- This position requires the candidate to have a strong understanding of the mortgage origination industry and a thorough knowledge of the relevant laws and regulations
- This position requires the candidate to identify key strategic issues, incorporate risk assessment skills, and use the law to advance the business
- The candidate must have excellent verbal and written communication skills and a passion for providing excellent customer service
- The candidate must have strong organizational skills, attention to detail, and flexibility, as well as the ability to work effectively and collaboratively with global cross-functional teams in a fast-paced and high risk environment
- The candidate must be proficient in Microsoft Applications to include, Excel, Word and PowerPoint
Ocwen Financial Corporation - 18 months ago