Apply on Employer Site

The Servion Group · 1 month ago

Servicing Representative – Default Specialist

New Brighton,MN,US

Full-time

Onsite

Entry, Mid, Senior Level

$21.12/hr - $25.27/hr

1+ years exp

The Servion Group is involved in foreclosure and loss mitigation operations, and they are seeking a Servicing Representative – Default Specialist. The role requires extensive administrative work in coordinating various functions of foreclosure and loss mitigation, including loan modifications, repayment plans, and bankruptcy processes.

AdviceFinanceFinancial Services

Responsibilities

Know and understand investor/insurer guidelines specifically FHA, FNMA, GNMA, FHLMC, VA, FHLB, USDA

File foreclosure advance claims for reimbursement from investors timely

Monitor the attorneys' performance by reviewing all proceedings, records, and timeframes and updating activities throughout the foreclosure process in system

Document communications with borrowers and attorneys; provide thorough explanations on delays

Partner closely with outside attorneys/vendors to oversee foreclosure actions from referral to foreclosure sales and/or eviction while maintaining investor specific timelines

Prepare accurate judgment figures, payoffs, and reinstatements

Ensure account actions, correspondence and process delays are thoroughly documented in servicing system

Ensure compliance with all state and investor requirements including maintaining investor metrics and protocols on all foreclosure sales

Review and implement according to investor, client, insurer guidelines loan modification terms, forbearances and repayment terms, short sales, and deed in lieu

Submit loss mitigation requests to investor/client/MI for approval as required

Approve or decline files as directed in accordance with departmental guidelines as set forth by investor/client/insurer guidelines

Monitor status of repayment plans, forbearance plans, and trial period plans; update servicing and investor system of record with payment information

Respond and return voicemails, escalations and all other requests within 24 hours from receipt

Contact borrowers and real estate agents to provide status of loss mitigation files

Work with bankruptcy attorneys on mortgages that file bankruptcy so all steps are followed to ensure compliance

Handle all written and verbal correspondence professionally between the borrowers, client, investor, insurer, subordinate lien holders, real estate agents, consumer credit counseling services, and attorneys

Perform timely follow up with attorneys and bankruptcy trustees, follow up timely for hearings, discharges and critical steps and request referrals on delinquent bankruptcies and status updates

Actively participate in quarterly performance meetings; meet or exceed all performance metrics

Must be able to perform all responsibilities and functions listed for Level I with a high degree of efficiency and independence

Responsible for the training of Loss Mitigation Specialists

Coordinate the activities of outsourced partners and vendors to achieve loss mitigation goals. Serve as a resource for other Loss Mitigation Specialists regarding Loss Mitigation operations, policies or procedures

Meet with delinquent borrowers and determine appropriate resolution

Execute account resolution according to investor and MI specifications

Process delinquency reporting to investors, mortgage insurers, and internal authorities

Manage credit bureau reporting and corrections

Attend seminars about loss mitigation or the mortgage industry to assist in personal growth within the industry and with the company

Qualification

Foreclosure process knowledgeLoss mitigation expertiseInvestor guidelines knowledgeMortgage loan softwareBasic MS Office skillsTraining skillsCommunication skillsProblem-solving abilityTeam collaboration

Required

Extensive administrative work involved in the Foreclosure and Loss Mitigation operations of the Servicing Department

Required knowledge and abilities in the coordination of various functions of foreclosure and loss mitigation including but not limited to loan modifications, repayment plans, forbearances, property inspections, judicial and non-judicial foreclosure, Bankruptcy and investor guidelines

Thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency, and Credit Union requirements

Familiarity with AllRegs

Basic MS Office skills

Proficiency in using and learning mortgage loan software

Reporting, letter preparation, group presentation and other related communications skills

Ability to attend meetings or perform other assignments at locations outside the office, if necessary

Ability to define problems, collect data, establish facts and draw valid conclusions

1-3 years in residential foreclosure and loss mitigation; 3-5 years for Sr level and must have knowledge of FHA/GNMA foreclosure process