Foreclosure Job Description
Foreclosure
provides management with status updates and reporting in addition to ensuring compliance with all agency, investor and insurer guidelines.
Foreclosure Duties & Responsibilities
To write an effective foreclosure job description, begin by listing detailed duties, responsibilities and expectations. We have included foreclosure job description templates that you can modify and use.
Sample responsibilities for this position include:
Ensure actions taken are compliant with the regulatory and investor requirements
Each functional area manager may have unique and specific approval authorities related to their respective LOB
Monitor daily workflow to ensure timely completion of tasks
Ensures minimal charge-off losses to the bank through the development and the implementation of standardized collection procedures, documentation, and systems to insure that due diligence is maintained on all accounts
Works effectively with all levels of customers and management and communicates with lenders throughout the system to more effectively guide the collection process
Manage a portfolio of mortgage loans that include title issues, third party foreclosure actions, mobile home files, condo/coop cases, deceased mortgagor foreclosure issues, loans that meet charge off analysis criteria and submit necessary case documents for approval
Manage mortgage loans in bankruptcy through the final stage of the process (a.k.a Cram-Down Process)
Collaborate with leadership within multiple mortgage servicing functions to resolve issues with mortgage loans or potential write-offs
Mitigate potential losses incurred through communication and collaboration with investors and vendors to identify and resolve issues
Attend depositions, hearings, settlement conferences, as required
Foreclosure Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Foreclosure
List any licenses or certifications required by the position: HAMP
Education for Foreclosure
Typically a job would require a certain level of education.
Employers hiring for the foreclosure job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Business, Education, Legal, Math, English, Paralegal, Finance, Associates, Business/Administration, Accounting
Skills for Foreclosure
Desired skills for foreclosure include:
Familiarity with RESPA
Mortgage banking
Investor
Agency
FHA
VA
FHLMC
FFDCPA
GLBA
Insurer timelines and document requirements for judicial and non-judicial foreclosures
Desired experience for foreclosure includes:
3 years work experience in a back office operations area or customer service/call center environment
Review reports on delinquent loans for all state required documents
Review assigned delinquent loans for eligibility to submit to foreclosure
Partnering and building relationships with Loss Mitigation and Foreclosure Specialists
Become the subject matter expert on our processes, policies, procedures, our various tools
Increase level and quality service through recommendations of new processes and procedures
Foreclosure Examples
1
Foreclosure Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of foreclosure. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for foreclosure
- Analyze and respond to trends in volume fluctuation, product mix, regulatory changes and investor requirements
- Prepares and reviews foreclosure related documents
- Searches and reviews bankruptcy matters
- Communicates with clients regarding foreclosure matters
- Coordinates foreclosure sales and publications in multiple states
- Enters and verifies information in foreclosure processing platform
- Creates and distributes title reports using proprietary software
- Performs other duties or projects as assigned
- Act as the main point of contact for Spanish speaking customers, both over the phone and via email
- Prepare file for foreclosure approval (around 120 days past due)
Qualifications for foreclosure
- Intermediate computer skills in Microsoft products, such as Word, Excel, PowerPoint, Access and Outlook and servicing applications, default and servicing technology
- Strong knowledge of Microsoft Access, Excel, Word, and Fidelity is preferred
- LPS Desktop preferred
- Must be detail orientated with strong problem solving skills
- Must be PC proficient (Excel, Word, Lotus Notes)
- Must be fluent in verbal and written Spanish
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Foreclosure Job Description
Job Description Example
Our company is hiring for a foreclosure. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for foreclosure
- Responsible for servicing mortgage accounts to ensure the foreclosure is processed in compliance with all state and federal laws while maintaining compliance with Investor, Insurer, Agency and company guidelines
- Monitor attorney progress and insure foreclosure timeliness are maintain in accordance with state and investor requirements
- Accountable for a comprehensive control environment that insures compliance with internal policies, regulatory requirements, and investor/insurer guidelines
- Responsible for validating that the team is handling files accordingly to bank policy and investor guidelines
- Responsible for assuring that bids are completed according to both internal and Investor guidelines and that they are provided timely to Foreclosure counsel
- Prompt review and payment of foreclosure/preservation invoices, fees and costs, keeping expenses within investor/insurer allowable limits
- Create appropriate letters to send for FC proceedings for different states based on research (i.e.- Massachusetts letter, Rhode Island)
- Start and stop foreclosure related activity, specifically the quality control elements associated with the instances throughout the mortgage foreclosure process that initiate, cease, or status the foreclosure as “on hold”
- Assist in development of and participating in presentations for senior leadership and external parties, including clients and regulators regarding how the process works and why it is compliant
- Track default activity to ensure proper servicing actions are taken before foreclosure referral and or commencement
Qualifications for foreclosure
- Complete foreclosure hold reporting and exception tracking
- Ensure tasks are completed within required time frame
- Liaise with foreclosure attorneys to ensure timely processing of actions directed
- Monitor and resolve aged foreclosure holds
- Perform pre-foreclosure referral and pre-foreclosure sale quality control checks
- Experience in mortgage default servicing preferred
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Foreclosure Job Description
Job Description Example
Our company is looking for a foreclosure. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for foreclosure
- Oversee the statutory default letter process related to the collection process
- Monitor active foreclosures being reviewed for loss mitigation workouts to prevent dual tracking
- Collaborate with third party service providers and/or foreclosure attorney network to ensure timely cancellation/postponement of foreclosure proceedings due to active loss mitigation
- Oversee team responsible for review of loss mitigation denials to determine if foreclosure proceedings can commence
- Ensure imminent foreclosure reviews comply with regulatory and Government Sponsored Enterprise (GSE) requirements for properties scheduled for sale within sixty days
- Ensure inquiries and issues related to foreclosure status and loss mitigation updates submitted to the Default Legal Department (DLD) Home Affordable Modification Program (HAMP) mailbox are responded to and resolved
- Identify areas of opportunity through analysis of defect reporting and monitoring and collaborate with supervisory staff to implement process enhancements to reduce identified defects
- Prepare, analyze and submit monthly management, tracking, and trending reports
- Participate in efforts to improve accuracy, operating efficiency and expense reduction within the department
- Maintain open communication with internal staff, national attorneys, clients, management
Qualifications for foreclosure
- Ability to operate standard office equipment such as calculator, computer or typewriter
- Knowledge of the loan system preferred
- One to two years secretarial or office experience preferred
- Be able to learn job specific software programs and procedures
- Self-motivation and communication skills
- Interpersonal skills necessary to relate to and empathize with other people
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Foreclosure Job Description
Job Description Example
Our company is growing rapidly and is looking for a foreclosure. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for foreclosure
- Responsible for managing an Investor Specific portfolio
- Coordinates and conducts regular proactive conference calls with vendors on default related issues and status of resolutions
- Calculates bidding instructions for nationwide foreclosure sales and reviews for accuracy
- Assist the Default Supervisor/Manager with special projects including Monitor team performance, preparing management review reports, quality control audits
- Ability to provide counseling , develop training and mentor new and existing Foreclosure Specialists
- Provide backup coverage for other Foreclosure Specialists
- Manage staff of direct reports, including but not limited to participating in hiring decisions, training, performance reviews, assigning and prioritizing duties
- Maintains current foreclosure status of assigned loans within established policies and procedures
- Records pertinent information in the loan servicing system and other applicable software to maintain accurate and current records
- Reviews and reconciles reports between loan servicing system and other applicable software to insure timeliness and quality
Qualifications for foreclosure
- Participate in all required compliance training, including Bank Secrecy Act/anti-money laundering
- 2+ years’ experience in default, foreclosure/bankruptcy, and loss mitigation
- Employees are expected to carry out all reasonable requests by managers/supervisors, which the employee is capable of performing
- Employees must record all hours worked accurately and honestly in Stonegate Mortgage’s timekeeping system
- Ability to prepare foreclosure files, task queue, conduct file audits, assist and support supervisor regarding daily task, foreclosure claim reports and all required for claims and bank reconciliation purposes
- Ability to provide support for Bank Reconciliation and Check Processing functions
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Foreclosure Job Description
Job Description Example
Our company is looking for a foreclosure. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for foreclosure
- Responds to attorneys, vendors, branches and other department’s disputes, inquiries, and/or complaints related to the foreclosure action in accordance with established policies and procedures
- Manages all delinquent loans to ensure they are reviewed for foreclosure/repossession by the required milestone(s)
- Manages/Audits foreclosure timelines on assigned cases by interacting and instructing various parties such as mortgagors, attorneys, investors, and any other party involved with the foreclosure
- Manages, maintains and markets the bank’s repossessed assets according to policy and procedures
- Manages foreclosure/Repossession reports geared to drive workflow
- Manages exception reporting used as key controls for minimizing risk
- Monitors/Audits Foreclosure/Repossession loans, identifying trends or risks associated with the portfolio
- Reviews and approved foreclosure/repossession documents as needed
- Reviews and approves foreclosure/repossession bidding instructions and authorizes bidding amounts for upcoming foreclosure sales
- Performs required research on high risk/escalated files, providing a detailed account
Qualifications for foreclosure
- Experience in mortgage default servicing, specifically in foreclosure and bankruptcy preferred
- Advanced knowledge of proper legal/litigation procedures
- Thorough knowledge of mortgage loan documents
- Extensive knowledge of legal terminology
- Thorough knowledge of Fair Debt Collection Act
- Thorough knowledge of credit reporting