"Mortgage Banking Operations consist of New Owner Administration, Financial Services, Capital Markets and Accounting and Financial Reporting..."
MVCI Mortgage Bank
Mortgage Banking Operations consist of New Owner Administration, Financial Services, Capital Markets and Accounting and Financial Reporting to support the other processes.
New Owner Administration
- Work with legal team on creation of all contract and loan documentation for sales.
- Complete all contract paperwork, including finance documents, for sales.
- Facilitate all closings for both cash and finance transactions.
- Monitor the recording of all required documents as well as obtain title insurance upon request.
- Complete all training for sales administration personnel.
- Insure internal and governmentally imposed compliance to all contract and lending requirements on all transactions.
- Maintain various contracting and loan origination systems to facilitate business.
- Maintain imaging database for all financed documents.
- Work with custodian to insure all pertinent documents are secure as represented in our securitization deals
- Maintain on-going management and Associate development of world-wide staff.
Financial Services
- Process loan and maintenance fee payments through lock-box, ACD, credit card, Web site and wire transfer
- Balancing of cash clearing accounts for loan and maintenance fee payments
- Provide research for customer service issues
- Bill and distribute maintenance fee invoices and annual communication from COAs
- Distribute Owner letters and process incoming correspondence
- Collect on delinquent loans and maintenance fees through outbound calls and letter campaigns
- Report loan activity to Credit Reporting Agencies
- Monitor Bankruptcies filings for both loans and maintenance fees
- Process Foreclosures and Deed-in-Lieu of foreclosures
- Lockouts and lien for delinquent maintenance fees
- Process satisfactions/releases for loan payoffs and maintenance fee liens
- Resolve escalated Customer issues
- Process ownership changes and related data updates
Capital Markets
- Develop and manage investor and bank relationships related to consumer loans and MVCI's timeshare business
- Monetize the consumer loan portfolio as necessary through securitizations or direct private placements
- Manage interest rate risk, currency risk and credit risk as the mortgage bank supports MVCI's timeshare business
- Partner with various financial institutions to provide desirable third-party financing
- Partner with various MVCI departments to assist in financial preparation required for each new resort or product
- Management of compliance and investor reporting on the portfolio of sold consumer loans