What are the responsibilities and job description for the Mortgage Servicing Default Specialist - TruHome Solutions position at CommunityAmerica Credit Union?
Summary
This position will be assigned mortgage loan files in Default of their mortgage. The position will work accounts that are active in: bankruptcy, foreclosure, eviction, REO and claim processing. Individual will be responsible for providing accurate accounting and member records to state specific law firms by THS or our clients. This team member will work closely with and oversee assigned counsel to ensure performance timelines and related fees stay within required investors/insurer guidelines.
In addition, at times will be necessary to conduct sensitive and challenging conversations with severely delinquent members to obtain cash for keys, when allowed, to avoid eviction proceedings. The individual will assist in coordinating all property preservation requirements placed on TruHome to ensure all properties are secured and any required preservation activities are performed to guideline timeframes and costs. Upon completion of any foreclosure related activities will assume responsibility for conveying properties to FHA, FHLMC, FNMA and VA.
Duties & Responsibilities
KNOWLEDGE, SKILLS AND ABILITIES:
In this position, individual will be expected to lift to 20 pounds from time to time. Also, must be able to stoop, bend, reach or stand for extended periods of time. Must be able to sit and use a computer for extended periods of time.
Working Conditions
This position is expected to work in general office environment with limited to no travel.
Experience/Educational Requirements
This position will be assigned mortgage loan files in Default of their mortgage. The position will work accounts that are active in: bankruptcy, foreclosure, eviction, REO and claim processing. Individual will be responsible for providing accurate accounting and member records to state specific law firms by THS or our clients. This team member will work closely with and oversee assigned counsel to ensure performance timelines and related fees stay within required investors/insurer guidelines.
In addition, at times will be necessary to conduct sensitive and challenging conversations with severely delinquent members to obtain cash for keys, when allowed, to avoid eviction proceedings. The individual will assist in coordinating all property preservation requirements placed on TruHome to ensure all properties are secured and any required preservation activities are performed to guideline timeframes and costs. Upon completion of any foreclosure related activities will assume responsibility for conveying properties to FHA, FHLMC, FNMA and VA.
Duties & Responsibilities
- Knowledge and understanding of Federal Bankruptcy laws.
- Reviewing and monitoring Aacer, Chapter 13 plans and BK schedules.
- Loading required timeline events into the system of record.
- Working with THS escrow department to insure timely payment of tax and insurance on foreclosure, Bankruptcy and REO accounts.
- Obtain and complete required documents necessary to set up a bankruptcy file.
- Respond timely to inquiries from borrowers, courts, attorneys, or Credit Union clients.
- Preparing and filing applicable documents such as: Proof of Claims, Notice of Payment Changes, and Post Petitions Fees, Final Cure Notices and Reaffirmation Agreements.
- Processing Bankruptcy Payments.
- Processing Cramdown based on Agency/Insurer and/or Client guidelines.
- Attempts contact with borrower to discuss both foreclosure and eviction time frames and processes.
- Oversight and direct contact with law firms to discuss all bankruptcy, foreclosure, and eviction files to ensure timely filing of required documents and obtain required documents for internal file.
- Initiate cash for keys with borrower to avoid eviction process
- Submission of notification to FHLMC and FNMA within 24 hours of foreclosure sale.
- Coordinate all property preservation activities and inspections while accounts are in a defaulted stage.
- Preparing marketing packages to submit to the Credit Union for approval.
- Document review and execution for REO sales.
- Claim preparation and submission for insurers.
- Coordinate payment of invoice based on fee approval of service performed.
- Document/file preparation for claim and audit support on all defaulted files.
- Always develop and maintain positive working relationships by providing high quality customer service to all internal and external customers.
- Work with other credit union departments to ensure the workflow or process is providing the best service to the members.
- Performs other duties as assigned.
KNOWLEDGE, SKILLS AND ABILITIES:
- Comprehensive knowledge of Mortgage Servicing and Default activities.
- Strong interpersonal skills.
- Ability to assist other team members in solving problems.
- Self-Motivated with ability to work independently without close supervision.
- Excellent communication skills – verbal, written and listening.
- Understanding of MSP Servicing system.
- Ability to maintain sensitive and confidential information.
- Must be detail oriented.
- Must be able to be bonded.
In this position, individual will be expected to lift to 20 pounds from time to time. Also, must be able to stoop, bend, reach or stand for extended periods of time. Must be able to sit and use a computer for extended periods of time.
Working Conditions
This position is expected to work in general office environment with limited to no travel.
Experience/Educational Requirements
- Bachelor’s degree or equivalent related work experience preferred.
- 3-5 years Default Mortgage Servicing experience.
- Strong knowledge of agency servicing requirements .
- Microsoft Office knowledge and experience.