VP - Loan Servicing

Luminate Bank® is more than a bank—we're Banking Brighter® by making financial success simple, accessible, and rewarding. Whether you're purchasing a home, growing your savings, or planning for long-term stability, we offer expert guidance and personalized solutions to illuminate your path. Our seamless digital banking, tailored lending options, and wealth-building strategies empower you to take control of your financial future. With competitive rates, clear insights, and a customer-first approach, we help you make informed decisions with confidence. No matter where you are in your journey, Luminate Bank® is here to support you every step of the way.

Position Overview:

The VP of Servicing will be responsible for overseeing, developing and implementing the Servicing Policy for the Residential and Consumer Lending Divisions of Luminate Bank in compliance with all regulatory and agency requirements/SOP. This individual will ensure all policies and procedures are updated in alignment with guidelines or regulatory changes. The VP of Servicing candidate will have exceptional communication and organizational skills, thrive in a fast-paced environment, detail oriented and driven.

Responsibilities and Duties:

• Lead, manage and optimize all aspects of the mortgage servicing operations, including loan boarding, payment processing and customer service.
• Establish measurable KPIs and service level standards to ensure accuracy, timeliness and customer satisfaction.
• Develop, implement, and maintain an effective Servicing Policy and Procedures Manual that aligns with Luminate Bank’s risk tolerance and board approved limits.
• Manage the sub-servicing relationship for all mortgage servicing and related activities to ensure compliance with servicing policy requirements along with vendor management requirements
• Maintain all agency direct servicing reporting requirements, including but not limited to, Fannie Mae, Freddie Mac, HUD, FHLMC and Ginnie Mae.
• Play a pivotal role in securing the company’s Ginne Mae issuer status, ensuring all necessary requirements, processes, and compliance protocols are in place to support.
• Oversee all aspects of scratch and dent loan transfers in and out.
• Manage the first payment process and ensure collections on all first payments.

Qualifications and Skills:

• Bachelor’s degrees in business administration, or equivalent work experience
• 10 years’ experience in residential agency mortgage servicing
• 10 years’ experience in direct supervision/management of team members
• 2 years of Ginnie Mae servicing experience and oversight
• Strong research, problem solving, organizational, communication and interpersonal skills
• Strong attention to detail, self-drive and analytical skills
• High degree of professional ethics and integrity
• Operates effectively both as an independent contributor and as part of a cross-functional team

Preferred Qualifications:

• Prior agency mortgage servicing experience and creating/maintain policies and procedures
• Significant experience overseeing mortgage sub-servicers
• Knowledge and training around interim servicing within the company and creating/maintaining policies and procedures around interim servicing process

Benefits:

• Competitive compensation reliant on ability and experience
• Excellent benefits package including health, pre tax HSA, FSA accounts and dental & vision
• Life and AD&D Insurance, as well as additional voluntary benefit possibilities
• 401K with robust company match
• Flexible PTO program
• Earned Sick & Safe Time (ESST)
• The opportunity to work for the Midwest’s fastest growing bank

We are an equal opportunity employer and value diversity in our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.