Foreclosure Specialist Job Description
Foreclosure specialist
provides support for the Office of General Counsel and/or Outside Legal Counsel reviewing and editing documents related to judicial and non-judicial release of endowment restrictions.
Foreclosure Specialist Duties & Responsibilities
To write an effective foreclosure specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included foreclosure specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
Appropriately update servicing systems to include coding and investor reporting screens
Inputting loan data including set-up dates, foreclosure dates, referral codes, charge off info
Reviewing loans that are scheduled for foreclosure sale to ensure that they meet all applicable qualifications and requirements
Enters information on foreclosure documents such as name, title, state and county against core mortgage systems
Verifies foreclosure name and document contents of more complex foreclosure documents such as deeds, assignments of mortgage, substitutions of trustees, , ensuring that quality metrics are consistently met
Recognition of varying post sale foreclosure demand requirements by state
Maintain current foreclosure post sale status of accounts within the assigned portfolio
Play the role of a liaison, among internal departments, clients and vendors to ensure maintenance of all processing activities and administer responsiveness of alerts to remain within state foreclosure timelines
Manage all attorney communication through servicing system and ensure all verbal communications are accurately recorded
Work with attorneys and management to resolve complex issues that may arise within the foreclosure post sale process
Foreclosure Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Foreclosure Specialist
List any licenses or certifications required by the position: HAMP, OREO
Education for Foreclosure Specialist
Typically a job would require a certain level of education.
Employers hiring for the foreclosure specialist job most commonly would prefer for their future employee to have a relevant degree such as High School and Bachelor's Degree in Business, Legal, Education, Math, English, Paralegal, Real Estate Law, High School Education, Associates, Communication
Skills for Foreclosure Specialist
Desired skills for foreclosure specialist include:
Familiarity with RESPA
Mortgage banking
Agency
Investor
FHA
VA
FHLMC
Insurer timelines and document requirements for judicial and non-judicial foreclosures
Insurer timelines and documents requirements for judicial and non-judicial foreclosures
FDCPA &federal and state laws related to legal
Desired experience for foreclosure specialist includes:
Must have strong attention to detail as duties are high risk and subject to multiple internal and external control checks to ensure accuracy
Typically incumbent will have 4+ years or greater experience in mortgage servicing with demonstrated proficiency interacting professionally and diplomatically with sensitive matters ability to communicate clearly and effectively both verbally and in writing
Two or more years of financial services operations experience
Aggressive pre sale BID queue management, time sensitive
Compliance document collection review
Title review of curative and non-curative issues
Foreclosure Specialist Examples
1
Foreclosure Specialist Job Description
Job Description Example
Our growing company is looking to fill the role of foreclosure specialist. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for foreclosure specialist
- Conducts research of tax data
- Process tax payments
- Performs clerical duties, such as maintaining simple to complex files, searching and investigating information contained in files, processing departmental documents requiring knowledge of functional operations and entering report results into tracking system
- May read and follow instructions on difficult metes and bounds legal descriptions
- Calculating the First Legal Deadline (FLD) and ensuring it’s entered into the Foreclosure (FCL) workstation and reviewing loans for extensions
- Providing foreclosure timeline delay chronologies
- Calculating the FLD which is used by FCL firms to effectively manage the Foreclosure action & complete the 1st legal milestone event within the allowable time frame
- Working with other LOBs, liaisons & FCL counsel to ensure the FLD is met
- Reviews loans approaching day 210 of delinquency to determine if an extension should be requested
- Validating foreclosure timelines when private investors or Mortgage Insurance (MI) companies demand re-purchase, make whole or curtailments
Qualifications for foreclosure specialist
- Ability to work on computers and phone systems
- One year of experience with mortgage loan documents
- At least 1 year of experience with Microsoft Office, including Word and Excel
- At least 1 year of experience within Mortgage Servicing or Default
- Having an advanced knowledge of default and foreclosure
- Notifying management of any change requirements needed on procedures and focuses on loans varying in complexity
2
Foreclosure Specialist Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of foreclosure specialist. 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 specialist
- Send out letters to loans that are over 90 days- ACT 6, CT EMAP/Demand, NYS 90 day/FC pending
- Ensure the final demand letter has expired, no payments or contacts have been made, and all the state/legal requirements have been met
- Prepare Internal Foreclosure Request and send to Residential Mortgage Manager for foreclosure approval
- Once Internal Foreclosure Request is approved prepare Attorney Foreclosure Request form
- Pull copies of all letters, green cards/ returned mail, calculate referral sheet, late fees, escrow, etc and refer account to the appropriate attorney
- Ensure all state required letters have been sent
- Answer questions from attorney's regarding FC files
- Calculate payoffs/reinstatements for attorney firms
- Assist Credit Adjusters/Supervisors with questions regarding Foreclosure and Pre- Foreclosure accounts
- Reply to emails/calls from customers and co-workers regarding accounts
Qualifications for foreclosure specialist
- Minimum of 5 years of servicing foreclosure experience required
- Bachelor's degree (B.S.) from a four-year College or University preferred
- Calculate repayment plans
- NYS reporting- bulk filing for daily letters and individual accts
- Work with Bankruptcy and Loss Mitigation Departments to assist customers and co-workers during conferences or to get account to foreclosure
- Research foreclosure procedures in various states to ensure compliance with all applicable laws and regulations
3
Foreclosure Specialist Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of foreclosure specialist. 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 specialist
- Maintain and update various databases and spreadsheets which provide periodic management and investor reports relating to foreclosure management and attorney oversight
- Review loans to ensure all federal and state laws and regulations have been met and all investor requirements have been completed in order to refer the loans to foreclosure in a timely manner
- Knowledge of senior lien monitoring, redemption periods / shortening of redemption, lien placement
- Secure appraisals and payoff information
- Conduct complete review of litigated and contested matters to ensure all default and/or court timeframes are met
- Prepare various forms for the accounting and special situations dept, ie
- Review, prioritize, and provide timely and accurate response to tasks, email
- All areas of responsibility listed below are essential to the satisfactory performance of this position by any/all incumbents, with reasonable accommodation, if necessary
- Maintain database and alternate tracking systems to manage flow of accounts through the legal process
- Attend meetings and report statuses of projects in summary and / or detail as required by management
Qualifications for foreclosure specialist
- Knowledge of financial and credit analysis techniques, , applicable regulator guidelines
- Bachelor's or Associate degree in business or related field preferred (a combination of education and foreclosure experience may be substituted at management's discretion)
- Associate's degree or work experience equivalent to associate's degree required
- Proven knowledge and experience in effective collection regulations, techniques and practices
- Detailed knowledge of loan agreements and security agreements
- Ability to apply understanding of bankruptcy law, principles and practices related to real estate transactions to accounts managed
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Foreclosure Specialist Job Description
Job Description Example
Our growing company is looking to fill the role of foreclosure specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for foreclosure specialist
- Scanning of any and all correspondence from the owners, attorneys, and other departments
- Mailing of any and all correspondence for foreclosure and/or other areas upon request
- Picking up and delivering mail on assigned weeks and upon requests from management
- Preparing and packaging FED-EX boxes for shipping
- Assist co-workers upon completion of assigned duties and assist in training of employees
- Reviewing and responding to e-mails accordingly
- Member contact
- Ensure the property has a clear & marketable title at the end of the foreclosure process by reviewing the title search to confirm all required liens will be foreclosed out
- Review and implementation of the continuing regulatory changes to the foreclosure process from investors, regulators and various governmental agencies to ensure compliance
- Primary liaison with all foreclosure attorneys which includes reviewing monthly status reports, monitoring foreclosure timelines and discussing accounts with various attorneys to ensure that all steps are being taken on up to 200 active foreclosures
Qualifications for foreclosure specialist
- Knowledge of legal regulations relating to real estate resale after foreclosure
- Must be able to multi-task and be very organized
- Must be able to balance changing priorities and remain professional under pressure
- Intermediate PC and typing skills required
- Prior experience using document retention software
- A high school diploma or state accepted equivalency is required
5
Foreclosure Specialist Job Description
Job Description Example
Our company is growing rapidly and is hiring for a foreclosure specialist. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for foreclosure specialist
- Review legal documents prepared by the attorney for accuracy, while calculating and drafting information for the Certification of Amount Due, Short Sale proposals, Deed-In-Lieu proposals
- Discuss accounts with distressed borrowers while providing them with loss mitigation options and educational assistance as it related to their mortgage loans and the foreclosure and loss mitigation process
- Provide training to co-workers, collectors and the support staff on all aspects of the foreclosure process
- Recommend and implement new policies/changes to executive management as needed and procedural changes as required due to ever changing environment
- Gather all documentation for foreclosure and assemble foreclosure referral packets
- Act as a Subject Matter Expert on mortgage documentation and imaging locations
- Maintain a working knowledge of default servicing processes and foreclosure referral timelines
- Review loan file documentation and engage legal counsel as appropriate
- Determine appropriate and least costly collection strategy and course of action for assets that are currently in foreclosure and advance stages of default and delinquency
- Develop strong working relationships with 3rd party attorneys to assure proper processes and procedures are followed to complete all aspects of litigation in a correct and well documented manner
Qualifications for foreclosure specialist
- Previous Default servicing experience * 1-3 years foreclosure or mortgage default related experience (Foreclosure preferred)
- Skill in working at a fast-paced with a deadline oriented manager
- Minimum two years Mortgage Default and/or foreclosure experience
- Typing skills with minimum 45 wpm with 95% accuracy
- Manage communication with the foreclosure firm for new sale information sales results
- Proficient in both MS word and Excel