What are the responsibilities and job description for the Default Loan Servicing Specialist position at First American?
Who We Are
ServiceMac is a new sub-servicing entity backed by some of the leading practitioners of the mortgage servicing industry. ServiceMac is focused on providing superior technology, products, and services for the mortgage and real estate industries backed by highly personalized service and support. Through continuous innovation and acquisition, our offerings comprise of personalized solutions that span the mortgage continuum and enhance security, compliance, customer satisfaction, and profitability. Our inclusive, people-first culture has earned our company numerous accolades, including being named to the Fortune 100 Best Companies to Work For® list for eleven consecutive years. We have also earned awards as a best place to work for women, diversity and LGBTQ employees, and have been included on more than 50 regional best places to work lists. First American will always strive to be a great place to work, for all.
What We Do
Service mortgage accounts to ensure all bankruptcy, property preservation and/or default activities follow all state and federal laws. Perform a variety of default loan servicing tasks within timelines and workflow processes on files. Processes are managed in accordance with established work rules, goals & objectives to improve timeline and attorney performance.
Default Loan Servicing Specialists perform duties related to early-stage, late-stage, reporting, and litigation in the default loan servicing process.
How You'll Contribute
Education, Experience, Licensure, and Certification
This hiring range is a reasonable estimate of the base pay range for this position at the time of posting. Pay is based on a number of factors which may include job-related knowledge, skills, experience, business requirements and geographic location.
What We Offer
By choice, we don’t simply accept individuality – we embrace it, we support it, and we thrive on it! Our People First culture is inclusive for all employees - not just because it's the right thing to do, but because it's the key to our success. We are proud to foster an authentic and inclusive workplace For All. You are free and encouraged to bring your entire, unique self to work. First American is an equal opportunity employer in every sense of the term.
Based on eligibility, First American offers a comprehensive benefits package including medical, dental, vision, 401k, PTO/paid sick leave and other great benefits like an employee stock purchase plan.
ServiceMac is a new sub-servicing entity backed by some of the leading practitioners of the mortgage servicing industry. ServiceMac is focused on providing superior technology, products, and services for the mortgage and real estate industries backed by highly personalized service and support. Through continuous innovation and acquisition, our offerings comprise of personalized solutions that span the mortgage continuum and enhance security, compliance, customer satisfaction, and profitability. Our inclusive, people-first culture has earned our company numerous accolades, including being named to the Fortune 100 Best Companies to Work For® list for eleven consecutive years. We have also earned awards as a best place to work for women, diversity and LGBTQ employees, and have been included on more than 50 regional best places to work lists. First American will always strive to be a great place to work, for all.
What We Do
Service mortgage accounts to ensure all bankruptcy, property preservation and/or default activities follow all state and federal laws. Perform a variety of default loan servicing tasks within timelines and workflow processes on files. Processes are managed in accordance with established work rules, goals & objectives to improve timeline and attorney performance.
Default Loan Servicing Specialists perform duties related to early-stage, late-stage, reporting, and litigation in the default loan servicing process.
How You'll Contribute
- Service mortgage accounts to ensure all applicable activities are processed in compliance with all state and federal laws while maintaining compliance with Investor, Insurer, Agency, and company guidelines
- Order, review and maintain loan documents to include signing of documents needed to proceed within the default process
- Conduct a complete review of files to ensure all applicable timeframes have been met in the relevant processes managed.
- Manage loan level requirements on assigned cases by interacting and instructing various parties such as mortgagors, attorneys, investors, insurers, trustees, appraisers, clients, and any other party involved with default.
- Review proceedings, records, and timeframes in addition to working all system/database activities throughout the process.
- Diligently follow up on all outstanding requests and telephone calls from internal and external partners.
- Perform required research on loans with questionable items such as the application of payments, proper notification, and any other situation that may arise.
- Manage exception reporting used as key controls for minimizing risk.
- May prepare, validate and deliver accurate default service reports ensuring data integrity and adherence to investor, agency and regulatory requirements.
- May analyze default portfolio trends and performance metrics, identify data variances or risks, and partner with operations, compliance, and management to support decision-making and continuous process improvement.
Education, Experience, Licensure, and Certification
- High School diploma or equivalent
- 3 years of directly related experience
- Working knowledge of fundamental concepts, practices and procedures of department
- Good verbal and written communication skills
- Extreme attention to detail and ability to adhere to strict guidelines and procedures
- GSE and Government experience preferred
- System of Record experience preferred
- Working knowledge of computer software programs to include Windows, Microsoft Word and Excel, Internet and Microsoft Outlook experience preferred
This hiring range is a reasonable estimate of the base pay range for this position at the time of posting. Pay is based on a number of factors which may include job-related knowledge, skills, experience, business requirements and geographic location.
What We Offer
By choice, we don’t simply accept individuality – we embrace it, we support it, and we thrive on it! Our People First culture is inclusive for all employees - not just because it's the right thing to do, but because it's the key to our success. We are proud to foster an authentic and inclusive workplace For All. You are free and encouraged to bring your entire, unique self to work. First American is an equal opportunity employer in every sense of the term.
Based on eligibility, First American offers a comprehensive benefits package including medical, dental, vision, 401k, PTO/paid sick leave and other great benefits like an employee stock purchase plan.
Salary : $21 - $28