Foreclosure Specialist II

Position Overview

This role involves overseeing the entire foreclosure process for a designated portfolio of mortgage loans, including those with contested foreclosures or involved in litigation, ensuring timely completion in line with investor requirements. The role also includes providing administrative support for foreclosure activities.

Key Responsibilities

• Track foreclosure progress from referral through completion, managing issues, holds, and research necessary to finalize foreclosure actions.
• Collaborate closely with foreclosure attorneys to resolve delays, address contested or litigation issues, and resolve title complications to facilitate foreclosure completion.
• Provide investors with timely status updates and compile documentation for investor or regulatory audit inquiries.
• Produce regular and on-demand reports such as monthly scorecards, exception logs, and workflow tracking for foreclosure monitoring.
• Ensure compliance with investor deadlines, including FHA legal deadlines related to foreclosure and eviction.
• Prepare bidding instructions per investor standards and oversee bidding processes for sales where M&T is not the senior lienholder.
• Review and process VA appraiser invoices, including W-9 collection and payment submission.
• Conduct initial document reviews for foreclosure or contested litigation, prepare backups, and submit to Tier 2 for further examination and execution.
• Analyze property equity to support potential charge-off decisions.
• Communicate sale outcomes to investors, mortgage insurance companies, and other relevant stakeholders, updating internal systems accordingly.
• Work with attorneys to ensure proper foreclosure reporting to investors.
• Manage foreclosure actions within established service level agreements, including holds, closures, or proceeding actions.
• Perform daily quality control on sale results, manage team communication channels, handle legal mail related to residential assets, and coordinate with counsel to mitigate risks.
• Initiate disbursement requests for bid deposits, lien payoffs, and settlement payments.
• Comply with company and regulatory compliance and operational risk controls.
• Maintain internal control standards, promptly addressing audit points and regulatory issues.
• Promote an inclusive work environment consistent with company values.
• Perform additional related duties as assigned.

Scope

This position requires interaction with third-party foreclosure attorneys to ensure foreclosures are completed timely and in compliance with investor guidelines. The role also liaises with Customer Asset Management management and internal/external legal teams.

Education and Experience Requirements

• A total of at least three years combining higher education and/or relevant work experience.
• Minimum one-year experience in Default Servicing fields such as Collections, Real Estate Owned (REO), or Loss Mitigation.
• Proficiency with word processing and spreadsheet applications.
• Strong verbal and written communication skills.
• Attention to detail with robust analytical and problem-solving abilities.
• Positive, motivated team player with a friendly disposition.

Preferred Qualifications

• Three years of experience in Default Servicing roles (Collections, REO, Loss Mitigation).
• Demonstrated effectiveness in team environments.
• Familiarity with banking and departmental information systems.
• Understanding of mortgage products, including home equity loans and lines of credit.
• Ability to interpret legal documents related to foreclosure.

Compensation

The position offers an hourly pay range from $20.55 to $34.25 USD nationally, with exact compensation dependent on individual qualifications and location.

Location

Clanton, Alabama, United States