Mortgage Servicing Foreclosure & REO Specialist

The Mortgage Servicing Foreclosure & REO Specialist is responsible for executing foreclosure, claims, and Real Estate Owned (REO) servicing activities for delinquent 1-4 Family First Mortgage loans. This role ensures compliance with investors, CFPB, state, federal, and internal guidelines while maintaining accurate documentation and timely communication with legal counsel, investors, and insurers. The specialist plays a key role in managing foreclosure milestones, filing claims, and preserving REO properties.

Responsibilities

Foreclosure Servicing

• Complete referrals to legal counsel for foreclosure initiation.
• Maintain and update foreclosure milestone templates in MSP for active loans.
• Prepare and submit foreclosure-related documents for execution.
• Communicate with legal counsel regarding foreclosure status and documentation.
• Track redemptions following foreclosure sales.
• Report foreclosure sale outcomes to investors.

 

Claims & REO Management

• File claims with investors and insurers accurately and within required timelines.
• Maintain REO milestone templates in MSP for active REO loans.
• Coordinate property preservation activities (e.g., conveyance condition requests, securing vacant properties, grass cuts, winterization).
• Order evictions and ensure timely delivery of title packages to the ensuring entity.
• Refer REO properties to vendors for marketing and sales.
• Review sales contracts, repair requests, and preservation needs to prevent property damage.
• Respond to property preservation vendors regarding registrations, violations, utility transfers, and over-allowable requests not approved by investors/insurers.

 

Bell Bank Culture, Policy and Accountability Standards:

• Know by name and face as many customers and employees as possible, calling them by name as often as possible.
• Know and practice LOCBUTN, our Golden Rules, and Bell Bank Customer Service Standards.
• Know, understand, and live the company values and bottom line.
• Conduct activities consistent with established Bell Bank policies, procedures and systems, the Bell Bank Employee Conduct policies, the Bank Secrecy Act and all applicable state and federal laws and regulations.
• All employees are responsible for information security, including compliance with policies and standards which protect sensitive information.
• Prompt and reliable attendance.
• Perform other duties as assigned.