Foreclosure Team Lead

Overview

Position:  Foreclosure Team Lead 

Location: Austin, TX on-site

Pay: $24.03 - $36.05/hr. D.O.E.

Position Summary: 

The Foreclosure Team Lead reports to the Supervisor of Foreclosure. The primary role of the Team Lead is to monitor residential mortgage loans in the foreclosure process to minimize potential losses and preserve the lien-holder's interests. Conducts all activities in adherence to all applicable investor timelines. Performs all duties in accordance with company guidelines and applicable federal, state and local regulations. The Analyst will manage loan portfolios through the current foreclosure process and work with attorney firms to make sure all deadlines are met. They will be able to properly coordinate all work assignments timelines on multiple projects, by managing time constraints and prioritizing accordingly. The analyst will be responsible for developing working relationships with Foreclosure Counsel and firms. 

Responsibilities

• Audits and reviews Foreclosure for timeline adherence across all states. 
• Audits Attorney Network to ensure the firms are properly reporting the updated status for all FC related events.
• Processes loans in Foreclosure from Referral to FC Sale. 
• Performs business unit testing to ensure all FC files are QC'd and updated accurately at all times. 
• Reviews payment histories and reconciles loans including the correction of incorrectly booked transactions.
• Monitors and Maintains accurate records within the servicing system while the asset is in the foreclosure process. 
• Coordinates with attorney firms to maintain and execute applicable documents within the foreclosure process. 
• Works with auction vendors to ensure accurate marketing of properties is occurring.
• Researches borrowers’ disputes related to foreclosure proceedings 
• Evaluates account and filing characteristics against legal precedents in order to identify/alleviate potential losses either monetary, or timeline in nature. 
• Processes foreclosure referrals timely to the firm and ensures First Legal is met in accordance with investor guidelines. 
• Provides accurate and timely bidding instructions to the firm 
• Reviews files to ensure dual tracking guidelines are adhered to
• Provides payment instructions to the Cash Department for funds received directly from borrowers to ensure proper application towards appropriate balances as outlined in the foreclosure case and in accordance with investor/insurer guidelines 
• Leverages of a wide range of legal and foreclosure knowledge, to augment the legal support services provided by internal/external counsel. 
• Resolves complex issues involving payment disputes, escrow discrepancies/changes, ARM changes, inaccurate mortgage assignments 
• Identifies and mediates any potential loan origination/documentation issues that could expose the bank or investors/insurers to financial losses 
• Audits accounts for errors or inaccuracies and corrects/updates accounts while documenting account accordingly 
• Effectively communicates critical information directly to bank customers, opposing counsel and supporting counsel by conveying that information clearly, accurately, honestly and concisely in accordance with bank, department and investor policies and procedures. 
• Adheres to Investor Servicing requirements in regards to proper coding of accounts; notification of property conditions, and monthly delinquency reporting to reduce fines by investors for non-compliance driving positive investor/insurer reportable metrics 
• Develops areas of expertise and company knowledge to improve customer service that will meet department, bank and investor objectives 
• Efficiently manages a task-based workload task management and attorney follow-up that improves the financial performance of the foreclosure portfolio and reduces credit losses to the bank and investors. 
• Initiates the relief process to prevent the continued depreciation of 5/3 and investor/insurer, in accordance with investor/insurer guidelines 
• Maintains records, reports and files 
• Comply with all state and federal laws, regulations and investor and insurer guidelines. 
• Responsible for keeping abreast of relevant changes to investor/insurer guidelines, industry standards and client expectations. Must keep up-to-date on all FHA, VA, USDA, PMI and FNMA/FHLMC servicing requirements and revisions. 
• Attends court hearings and mediation conferences related to foreclosure proceedings. 
• Works directly with Foreclosure Supervisor to draft and publish job aids and procedures
• Reviews internal audit findings and provides responses and remediations
• Reviews departmental exception reporting to ensure all exceptions are cleared in a timely manner

Qualifications

• Bachelor's Degree in Finance, Accounting or Business Administration preferred. Will consider a combination of equivalent experience and education; 
• 4-6 years banking operations or foreclosure legal experience 
• Overall, 3 years Mortgage Servicing or other relevant financial services industry experience. 
• Has knowledge of all Default Servicing processes up to and including Loss Mitigation, Foreclosure, Foreclosure, Conveyance and Claims in addition to mortgage servicing state, federal and agency guidelines and timelines; 
• In depth knowledge of MSP, with at least (2) years recent experience working with MSP; 
• 4-6 years banking operations or foreclosure legal experience 
• Demonstrates a functional knowledge of federal foreclosure law, as well as specific state and local jurisdiction foreclosure requirements. 
• Functional knowledge of mortgage servicing restrictions and guidelines 
• Functional knowledge and mastery of foreclosure terminology. 
• Functional knowledge of RESPA/Investor/Insurer/CFPB/FCRA guidelines and regulations 
• Working knowledge of Federal foreclosure code and laws 
• Strong analytical skills and decisive decision-making skills 
• Ability to interact at a professional level with customers and attorneys 
• Must be detail oriented and have excellent time management and organizational skills; 
• Ability to meet time deadlines while working under pressure; 
• Handles simultaneous tasks and projects in a fast paced environment. Able to work independently and in a team environment; 
• Good business writing and business math skills; 
• Excellent verbal and written communication skills; 
• Strong PC skills. Must be proficient in MS Windows, MS Outlook, MS Office Suite, MS Visio and MS SharePoint. 

Other Duties: This job profile is not intended to be an all-inclusive list of job duties and responsibilities, as one may perform additional related duties as assigned in order to meet the needs of the organization. 

Work Authorization: Must be able to verify identity and employment eligibility to work in the U.S.

Other Duties: This job profile is not intended to be an all-inclusive list of job duties and responsibilities, as one may perform additional related duties as assigned in order to meet the needs of the organization.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Must be able to lift up to ten pounds. Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods of time; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight; to operate office equipment requiring repetitive hand movement and fine coordination including use of a keyboard; and to verbally communicate to exchange information. VISION: See in the normal visual range with or without correction. HEARING: Hear in the normal audio range with or without correction.

[EOE/M/F/D/V. Drug-free workplace.]

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Salary : $24 - $36