Default Mortgage Property Preservation Specialist

SERVION INC•New Brighton, MN

7h•$22 - $30

About The Position

The Mortgage Property Preservation Specialist is responsible for safeguarding collateral securing delinquent mortgage loans through timely property inspections, occupancy verification, property preservation oversight, hazard claim coordination, and vendor management. This position ensures compliance with HUD, FHA, investor, insurer, agency, state, and local property preservation requirements while protecting the mortgagee's interest in collateral properties. The Specialist monitors delinquent loans for occupancy concerns, coordinates property inspections and preservation activities, manages preservation expenses, obtains required approvals for over-allowable costs, oversees field service vendors, and works closely with foreclosure, claims, escrow, insurance, and loss mitigation teams to preserve and protect mortgaged properties throughout the default servicing lifecycle.

Requirements

Knowledge of FHA, VA, Fannie Mae, or Freddie Mac investor guidelines.
Strong organizational and vendor-management abilities.
Familiarity with mortgage servicing and field software tools.
High attention to detail for audit and expense tracking.
High school diploma, GED or equivalent required.
Minimum 2 years of mortgage servicing, foreclosure, default servicing, claims, property preservation, inspections, field services, or related experience.
Working knowledge of FHA, HUD, Fannie Mae, Freddie Mac, VA, USDA, and private investor servicing requirements preferred.
Experience working with preservation vendors, inspectors, attorneys, claims personnel, and insurance carriers.
Strong analytical, organizational, and documentation skills.
Proficiency with mortgage servicing systems and Microsoft Office applications.

Nice To Haves

Associate's or Bachelor's degree preferred.
HUD Handbook 4000.1 Property Preservation and Protection requirements.
FHA conveyance and claims processes.
Hazard insurance claim administration.
Property preservation cost controls and reimbursement requirements.
Vacant property registration and municipal compliance requirements.
Foreclosure and REO property management practices.
Ability to interpret inspection reports, repair bids, and contractor estimates.
Strong attention to detail and compliance-focused decision making.

Responsibilities

Monitor delinquent mortgage accounts and initiate occupancy inspections when borrowers are approximately 45 days delinquent and reasonable efforts to establish contact with the borrower or occupant have been unsuccessful.
Review inspection reports, photographs, occupancy certifications, and vendor findings to determine occupancy status and property condition.
Evaluate indications of vacancy or abandonment, including property condition, utility status, lack of personal property, accumulated mail, overgrown vegetation, and other field observations. Coordinate initial vacancy inspections and securement activities upon confirmation that a property is vacant or abandoned.
Direct preservation vendors to perform necessary actions to protect properties from vandalism, weather-related deterioration, unauthorized entry, and safety hazards.
Review and authorize preservation activities including: Property securing and lock changes, Window and door repairs, Winterization and re-winterization, Lawn maintenance and snow removal, Debris removal, Pool securing, Emergency repairs, Utility management, Vacant property registration compliance, Ongoing vacancy inspections.
Ensure preservation activities comply with HUD, FHA, agency, investor, insurer, state, and local requirements.
Serve as primary liaison between the company and field service/property preservation vendors.
Assign, monitor, and track inspection and preservation work orders.
Review vendor invoices, bids, inspection reports, photographs, and repair recommendations for accuracy and compliance.
Monitor preservation expenses to ensure costs remain within HUD, FHA, investor, and agency allowable limits whenever possible.
Review repair bids and preservation recommendations for cost effectiveness and necessity.
Evaluate requests that exceed allowable reimbursement thresholds.
Obtain and document required approvals for over-allowable preservation expenses from investors, agencies, HUD Mortgagee Compliance Managers (MCMs), or other applicable approval authorities.