Job Function/ Purpose. The Loss Mitigation Processor (Foreclosure Specialist) is responsible for monitoring and tracking all assigned foreclosures and evictions throughout the litigation process. In addition, the Loss Mitigation Processor (Foreclosure Specialist) must be able to detect any delays and make sound judgments on behalf of investor and insurer guidelines to reduce any losses. Qualifications - High School diploma or GED required; college degree in a business-related field or commensura... more details
Job Function/Purpose
The Loss Mitigation Processor (Foreclosure Specialist) is responsible for monitoring and tracking all assigned foreclosures and evictions throughout the litigation process. In addition, the Loss Mitigation Processor (Foreclosure Specialist) must be able to detect any delays and make sound judgments on behalf of investor and insurer guidelines to reduce any losses.
Qualifications
* High School diploma or GED required; college degree in a business-related field or commensurate experience preferred * Mortgage, collection, foreclosure, and/ or legal experience preferred * Knowledge of FHLMC, FNMA, GNMA, FHA, VA, CFPB, and Home Affordable Programs preferred * Knowledge of loan documents preferred * Knowledge of Fiserv/LoanServ system preferred * Must have excellent mathematical and analytical skills * Must be able to manage time efficiently, prioritize tasks, and coordinate multiple and changing priorities in a demanding environment * Must have excellent telephone, written, and verbal communication skills * Must have strong propensity for detail, accuracy, and confidentiality * Must be professional and courteous with internal and external customers * Working knowledge of Windows, Microsoft Word and Excel applications
Principal Activities/Objectives
* Compile and review all collected data obtained and detect any non-compliance within the collection and original loan files prior to referring the foreclosure package to the attorney. * Instruct the foreclosure attorneys on which course of action must be taken with regard to all proceedings and delays within compliance of the investors’ and various agencies’’ guidelines. * Prepare payoff and reinstatement quotes for mortgagors and attorneys. * Review file prior to the Foreclosure Sale for pre-certification and submit accurate bidding instructions. * Respond to all correspondence from the various agencies, attorneys, investors, title companies and borrowers. * Insure all litigation is complete and all proper documentation has been received from the foreclosure attorney * Maintain compliance with all federal, state, agency, and internal collection, loss mitigation, foreclosure, and bankruptcy policies and procedures.
Note:
Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time
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