Foreclosure Cash Specialist II
Foreclosure Specialist is responsible for working directly with governmental, special servicing, private label, and high profile investors while making decisions and providing resolutions regarding foreclosure issues in order to minimize risks and mitigate loss outside of their delegated authority. Provide management with status updates and prepare a variety of complex reports to ensure compliance with all agency, investor, and insurer guidelines. Support internal staff with questions regarding foreclosure loans within their delegated authority. Responsible for ensuring the Foreclosure Process is completed accurately in adherence to mandatory state and investor timelines by acting as a liaison between Freedom Mortgage and outside counsel.
Essential Job Functions:
- Managing past due and approaching standard FCL cases including FNMA, GNMA (FHA,VA,USDA & Private Investors
- Follow up on all FCL actions daily/monthly to ensure investor guidelines and monthly status requirements are within compliance.
- Responsible for document execution of various financial foreclosure documents required during the foreclosure process per Federal Compliance standards.
- Ensure accounts are properly documented with actions taken, correspondence, and explanation of controllable vs non controllable delays.
- Knowledgeable in agency, investor or insurer timelines and documents requirements for judicial and non-judicial foreclosures.
- Reviews and provides HAMP certification nationwide notifications prior to foreclosure sale.
- Moving aged accounts to foreclosure sale, addressing low value properties timely, high balance reviews, lost liens to tax sale, prepare equity analysis with detail and accuracy, meeting timelines on each foreclosure file while closely monitoring attorneys and the overall quality performed on all daily job tasks.
- Ensure cases have a clear & marketable title throughout the FCL process.
- Examine FCL related expenses as they pertain to investor guidelines including contested/litigation
- Prepare bidding instructions for all sales incompliance with investor, insurer guidelines.
- Ensure the accurate & timely referral to Bankruptcy & Post sale areas.
- Endorse, certify and report all FCL sale results within 24hrs of sale.
- Coordinate with Property Preservation department to secure & maintain vacant properties.
- Working knowledge of mortgage banking, familiarity with RESPA, FDCPA &federal and state laws related to legal.
- Update databases to ensure information is accurate, complete, and accessible. Maintain records and files. Perform periodic analyses and review of data. Investigate questionable items.
- Develop a strong working relationship with network of Servicer Appointed and Designated Counsels.
- Provide mentoring to new staff members, assist in special projects as assigned.
Education and/or Experience:
Bachelors Degree from a Four (4) year College or University; or one (1) to two (2) years related experience and/or training; or equivalent combination of education and experience. 3-5 years working knowledge of foreclosure laws and terminology.
Type of Skill and or Licensing/Certification/Registration:
- Microsoft Word
- LPS Desktop
Ability to read, and interpret documents such as policy and procedure manuals, safety rules, operating and maintenance instructions. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of the organization.
Ability to calculate figures and amounts such as discounts, interest, commissions, and percentages.
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.
Customer Service Relationships:
Requires moderate interpersonal and communication skills to ensure that customer requests or needs are met. Acknowledges and clarifies customer inquiries, requests, or complaints to ensure that needs are identified, documented, and addressed.
Tasks are multiple and diverse with some interrelationships across processes. Work requires the direct application of a variety of procedures, policies and/or precedents.