Associate, Delinquency Management (Foreclosure Specialist)

Oriental Bank•Bayamon, PR

2d•Hybrid

About The Position

The Foreclosure Specialist is responsible for the completion of routine foreclosures, primarily for mortgage but can also include related foreclosure tasks for: unsecured loans, auto loans, credit cards, and line of credits. The Associate must ensure compliance with all state laws and investors, insurers, and company timeframes. This position will be working hybrid and based in Bayamon, PR.

Requirements

Bachelor’s degree in Business Administration or a related field (or equivalent combination of education and experience).
Two (2) years of mortgage servicing experience.
Minimum education and experience required can be substituted with the equivalent combination of education, training and experience that provides the required knowledge skills and abilities.
Strong knowledge of mortgage servicing regulations and foreclosure processes from start to finish.
Ability to review legal documents and affidavits prepared by counsel for accuracy prior to execution.
Excellent written and verbal communication skills in English and Spanish.
Proficiency with MS Office, internet tools, and core banking systems such as: Horizon & IBS/Metavante required.
Strong interpersonal skills with the ability to communicate effectively with internal teams and external partners.
Legally authorized to work in the US is required.
Candidates must have permanent or ongoing work authorization.
Employee is responsible for maintaining eligible work authorization throughout his tenure with the organization.

Nice To Haves

Foreclosure experience strongly preferred.

Responsibilities

Service mortgage loans referred to foreclosure in compliance with CFPB regulations, investor guidelines, and Bank policies.
Request collateral from Custody and send required documentation to law firms to initiate foreclosure or collections.
Prepare payoff balances and debt certifications for Foreclosure and Bankruptcy cases, including legal costs and escrow shortages.
Coordinate with Loss Mitigation to suspend, resume, or update foreclosure actions and properly code and document accounts.
Monitor foreclosure case activity and follow up with law firms to ensure timely progress and regulatory compliance.
Review loans assigned to attorneys to confirm foreclosure actions are completed within required timelines.
Analyze and manage assigned cases from legal consumer, external collections, and related areas.
Maintain accurate records, databases, and reports for litigation and foreclosure portfolios.
Manage DACO complaint mail for the Legal Auto Department.
Handle auction activities, including appraisals, collateral requests, auction strategy, system updates, REO/Finance reporting, and digital archiving.
Other duties may be assigned.