Late Stage Default Specialist

TexasBank • Fort Worth, TX

4d • Hybrid

About The Position

The Late-Stage Default Specialist is responsible for managing all aspects of default servicing activities related to foreclosure, investor claims, property preservation, Bankruptcy, and REO. This role ensures compliance with investor, insurer, regulatory, and internal servicing guidelines while minimizing loss severity and protecting asset value.

Requirements

• Bachelor’s degree in business, Finance, or related field (or equivalent work experience).
• 3–5+ years of experience in mortgage servicing, with a focus on foreclosure, claims, and/or property preservation.
• Strong understanding of default servicing processes and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA).
• Strong knowledge of mortgage servicing practices, loss mitigation options, and bankruptcy processes.
• Excellent communication and negotiation skills.
• Ability to analyze financial information and make sound decisions.
• Strong attention to detail and organizational skills.
• Ability to manage a high-volume workload in a fast-paced environment.
• Proficiency with servicing platforms and Microsoft Office (Excel, Word, Outlook).

Nice To Haves

• 3-5+ years of experience providing claims analysis.
• Ability to manage, evaluate, and report on attorney network for foreclosure processing.

Responsibilities

• Manage the end-to-end foreclosure process, including referral, milestone tracking, and timeline adherence.
• Coordinate with foreclosure attorneys, trustees, and vendors to ensure timely progression of files.
• Review and approve foreclosure actions, including pleadings, sales, and postponements.
• Monitor key deadlines to maintain compliance with investors (Fannie Mae, Freddie Mac, FHA, VA, USDA) and state-specific requirements.
• Analyze delinquent loan portfolios and recommend appropriate default strategies (foreclosure, modification, deed-in-lieu, etc.).
• Prepare, review, and submit timely and accurate insurance and investor claims (FHA, VA, MI, GSE, and private investors).
• Validate all eligible expenses, advances, and loss calculations to maximize recoveries.
• Audit claim packages for compliance with investor and insurer guidelines.
• Track claim status and follow up on deficiencies, adjustments, or denials.
• Reconcile claim proceeds and ensure proper application of funds.
• Oversee property inspection, maintenance, and preservation activities for delinquent and REO properties.
• Manage vendors responsible for securing, winterizing, repairing, and maintaining properties.
• Review and approve preservation work orders, bids, and invoices for accuracy and compliance.
• Ensure property conditions meet investor and insurer guidelines, including conveyance condition requirements.
• Monitor occupancy status and coordinate eviction processes when necessary.
• Ensure adherence to all federal, state, and investor regulations, including CFPB, HUD, VA, and GSE servicing guidelines.
• Maintain accurate documentation and audit-ready files.
• Identify and mitigate operational risks related to foreclosure timelines, claim curtailments, and preservation costs.
• Assist with tracking, evictions, and maintenance of REO properties.
• Support internal and external audits by providing documentation and responding to inquiries.
• Track and report key performance metrics (timelines, claim recovery rates, preservation costs, etc.).
• Analyze trends and identify opportunities to reduce losses and improve operational efficiency.
• Provide regular status updates to management and stakeholders.

Benefits

• Some remote work as needed
• Occasional overtime during peak periods
• Equal employment opportunities regardless of race, creed, color, religion, alienage or national origin, ancestry, citizenship status, age, disability or handicap, sex, marital status, veteran status, sexual orientation, genetic information, arrest record, or any other characteristic protected by applicable federal, state or local laws.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level