Foreclosure Analyst

New American Funding

1d•$24 - $31•Remote

About The Position

The Foreclosure Analyst reports to the Manager of Foreclosure. The primary role of the Analyst is to monitor residential mortgage loans in the foreclosure process to minimize potential losses and preserve the lien-holder's interests. Conducts all activities in adherence to all applicable investor timelines. Performs all duties in accordance with company guidelines and applicable federal, state and local regulations. The Analyst will manage loan portfolios through the current foreclosure process and work with attorney firms to make sure all deadlines are met. They will be able to properly coordinate all work assignments and timelines on multiple projects, by managing time constraints and prioritizing accordingly. The analyst will be responsible for developing working relationships with Foreclosure Counsel and firms.

Requirements

Has knowledge of all Default Servicing processes up to and including Loss Mitigation, Foreclosure, Conveyance and Claims in addition to mortgage servicing state, federal and agency guidelines and timelines;
In depth knowledge of MSP, with at least (2) years recent experience working with MSP;
2-3 years banking operations or foreclosure legal experience
Demonstrates a functional knowledge of federal foreclosure law, as well as specific state and local jurisdiction foreclosure requirements.
Functional knowledge of mortgage servicing restrictions and guidelines
Functional knowledge and mastery of foreclosure terminology.
Functional knowledge of RESPA/Investor/Insurer/CFPB/FCRA guidelines and regulations
Working knowledge of Federal foreclosure code and laws
Strong analytical skills and decisive decision-making skills
Ability to interact at a professional level with customers and attorneys
Must be detail oriented and have excellent time management and organizational skills;
Ability to meet time constraint deadlines while working under pressure;
Handles simultaneous tasks and projects in a fast-paced environment;
Able to work independently and in a team environment;
Good business writing and business math skills;
Excellent verbal and written communication skills;
Strong PC skills. Must be proficient in MS Windows, MS Outlook, MS Office Suite, MS Visio and MS SharePoint.

Nice To Haves

Bachelor's Degree in Finance, Accounting or Business Administration preferred. Will consider a combination of equivalent experience and education;
2-3 years banking operations or foreclosure legal experience
Overall, 3+ years Mortgage Servicing or other relevant financial services industry experience.

Responsibilities

Audits and reviews Foreclosure for timeline adherence across all states.
Processes loans in Foreclosure from Referral to FC Sale.
Perform business unit testing to ensure all FC files are QC'd and updated accurately.
Reviews payment histories and reconciles loans.
Monitors and Maintains accurate records within the servicing system while the asset is in the foreclosure process.
Coordinates with attorney firms to maintain and execute applicable documents within the foreclosure process.
Researches borrower’s disputes related to foreclosure proceedings.
Evaluates account and filing characteristics against legal precedents in order to identify/alleviate potential losses either monetary, or timeline in nature.
Processes foreclosure referrals timely to the firm and ensures First Legal is met in accordance with investor guidelines.
Provides accurate and timely bidding instructions to the firm.
Reviews files to ensure dual tracking guidelines are adhered to.
Provides payment instructions to the Cash Department for funds received directly from borrowers to ensure proper application towards appropriate balances as outlined in the foreclosure case and in accordance with investor/insurer guidelines.
Leverages of a wide range of legal and foreclosure knowledge, to augment the legal support services provided by internal/external counsel.
Resolves complex issues involving payment disputes, escrow discrepancies/changes, ARM changes, inaccurate mortgage assignments.
Identifies and mediates any potential loan origination/documentation issues that could expose the bank or investors/insurers to financial losses.
Audits accounts for errors or inaccuracies and corrects/updates accounts while documenting account accordingly.
Effectively communicates critical information directly to bank customers, opposing counsel and supporting counsel by conveying that information clearly, accurately, honestly and concisely in accordance with bank, department and investor policies and procedures.
Adheres to Investor Servicing requirements regarding the proper coding of accounts; notification of property conditions, and monthly delinquency reporting to reduce fines by investors for non-compliance driving positive investor/insurer reportable metrics.
Develops areas of expertise and company knowledge to improve customer service that will meet department, bank and investor objectives.
Efficiently manages a task-based workload task management and attorney follow-up that improves the financial performance of the foreclosure portfolio and reduces credit losses to the bank and investors.
Responsible for monitoring and processing annual and quarterly foreclosure reporting per state and federal guidelines.
Initiates the relief process to prevent the continued depreciation of 5/3 and investor/insurer, in accordance with investor/insurer guidelines.
Maintains records, reports and files.
Comply with all state and federal laws, regulations and investor and insurer guidelines.
Responsible for keeping abreast of relevant changes to investor/insurer guidelines, industry standards and client expectations. Must keep up-to-date on all FHA, VA, USDA, PMI and FNMA/FHLMC servicing requirements and revisions.
Attends court hearings and mediation conferences related to foreclosure proceedings.