Foreclosure Team Lead

Overview

Position:  Foreclosure Team Lead 

Location: Austin, TX on-site

Pay: $24.03 - $36.05/hr. D.O.E.

Position Summary: 

The Foreclosure Team Lead reports to the Supervisor of Foreclosure. The primary role of the Team Lead 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 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. 

Responsibilities

• Audits and reviews Foreclosure for timeline adherence across all states. 
• Audits Attorney Network to ensure the firms are properly reporting the updated status for all FC related events.
• Processes loans in Foreclosure from Referral to FC Sale. 
• Performs business unit testing to ensure all FC files are QC'd and updated accurately at all times. 
• Reviews payment histories and reconciles loans including the correction of incorrectly booked transactions.
• 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. 
• Works with auction vendors to ensure accurate marketing of properties is occurring.
• Researches borrowers’ 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 in regards to 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. 
• 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. 
• Works directly with Foreclosure Supervisor to draft and publish job aids and procedures
• Reviews internal audit findings and provides responses and remediatio