Loan Servicing Default Specialist Assoc - El Segundo, CA

Kinecta Federal Credit Union•El Segundo, CA

10d•$22 - $28•Hybrid

About The Position

This position requires the candidate to work in-office three (3) days per week. This position is responsible for providing mitigation to a delinquent or potentially delinquent real estate loan portfolio, in an effort to avoid foreclosure and assist borrowers by offering mitigation or liquidation solutions such as a short sale, deed in lieu, forbearance or loan modification. It involves planning, organizing, directing, and controlling mitigation solutions by evaluating a gain/loss analysis to determine next steps and offering solutions that will resolve any payment performance issues. Under minimal direction, this role is responsible for the day-to-day activity of third-party Loan Servicing Vendor to achieve superior operational performance and maintain outstanding service to our members. It provides a level of oversight to ensure the vendor is in compliance with all collection and default policies and procedures, Investor requirements & Service Level Agreements have been met, by monitoring, auditing, reconciliation, and reporting of findings to Management. In addition, may be tasked with assisting in the coordination, handling, and oversight of accounts that have filed bankruptcy as needed. A clear understanding of CFPB, FCRA, FDCPA, state and federal guidelines is preferred.

Requirements

Knowledge of computer applications related to work, including word processing and spreadsheet applications.
Knowledge of records management principles and practices.
Ability to effectively work with members, attorneys and staff, in person and over the telephone.
Knowledge of standards office support practices and procedures, including the use of standard office equipment.
Ability to work in a fast-paced environment.
Ability to maintain and train in the foreclosure and loss mitigation areas.
Strong analytical and problem-solving skills.
Excellent customer service, relationship management and negotiation skills.
Strong interpersonal, written, and verbal communication skills.
Knowledge of Loan Servicing Systems, Accounting Principles and Practices, FNMA and FHLMC credit guidelines.
Knowledge of federal and regulatory compliance.
Ability to prioritize, analyze and solve problems.
Customer Service, team and goal –oriented, enhance by a high sense of urgency.
Excellent organizational and follow-through skills with emphasis on details.
Ability to establish credibility and be decisive – but able to recognize and support organizations’ preferences and priorities.
Results driven with the ability to balance other business considerations.
Proficient in Microsoft Windows, Word, Excel, and inter-company software.
Ability to review and analyze appraisals, BPO and AVM values.
Review, analyze and complete gain and loss evaluations.
Servicing experience with minimum of 3 years’ experience with business operations.
General knowledge of mortgage banking, default early and late migration, foreclosure, bankruptcy, REO or equivalent combination of education and experience
Real Estate, escrow, title loan origination experience
Appropriate systems knowledge.

Nice To Haves

Bachelor’s degree in business administration, relates discipline or equivalent work experience preferred but not necessary

Responsibilities

Provides leadership and oversight for delinquent real estate loan portfolio
Reviews and approve adequate gain and loss analysis to determine the most appropriate solution as it relates to liquidation of property
General knowledge and loss mitigation skills such as a repayment plans, short sales, deed in lieu, forbearance, and loan modification
General understanding of CFPB Consumer Financial Protection Bureau, FCRA Fair Credit reporting Act, Fair Debt Collections Practices Act (FDCPA), state and federal guidelines.
Familiar with inbound and outbound calling strategies to resolve delinquency
Ability to effectively interface with third-party vendors, clients, and senior management to drive strategic initiatives, align objectives, and achieve organizational goals.
Reviews daily and monthly activity reports to ensure accurate posting of transactions and timely resolution of issues.
Ensure availability of reports and data files per the schedule agreed-upon with vendor.
Communicates delays in availability of reports and any system issues impacting members to internal departments along with estimated timeframes for resolution
Clear understanding and ability to analyze property value opinions, maintain and monitor foreclosure files and process close foreclosure files.
Provide results in terms operational excellence and loss severities
Maintains appropriate communication within area of responsibility
Assist in the oversight of the bankruptcy accounts as needed, including but not limited to: inquiries, filings, correspondence and timelines
Responsible for creating and conducting oversight of Collection and Default activities for ensure quality member service, Monitoring, Auditing, Reconciliation, and reporting findings.
Follows collection and default operating policies and procedures, and monitors for compliance
Monitors service level agreements (SLAs) to ensure compliance with performance standards.
Conduct and report audit reviews of sample transactions to ensure performance standards are met.
Maintains audit review log for issues and results; to establish performance trending.
Review, analyze and provide documentation with recommendations to supervisor for interest only, 2nd TD, short sale, and modifications processing
Other Projects as assigned to support the Departments reporting to the Vice President of Loan Servicing and Collections.
Performs other duties including special projects as assigned.