Foreclosure and Legal Specialist
Job description
Purpose of the Job
The Foreclosure and Legal Specialist is responsible for providing process and analytical support for all accounts in foreclosure or legal action. This role partners with our legal counsel as well as internal departments and outside vendors to assist in the foreclosure or legal process. This role is responsible for all aspects of the legal paperwork needed for each process. The successful Foreclosure and Legal Specialist must possess good communication skills, excellent attention to detail, as well as the ability to multi task in a fast-paced environment.
Essential Functions and Responsibilities
- Manages a pipeline of Active and Suspended Foreclosure or Legal loans from referral through the post- sale and judgment process. Documents all loan level efforts into the foreclosure workstations within Temenos.
- Reviews and provides designated counsel with all documentation necessary to ensure all accounts are being managed according to investor and insurer timelines.
- Coordinates with attorney network to maximize efficiency and timelines of resolution through loss mitigation options or Foreclosure Sale.
- Coordinates with the attorney for judgments, claim and delivery action and Writ of possession.
- Reviews relevant legal documents to be executed including, Affidavits, Assignment of Mortgage, SOT’s and other Foreclosure related documents.
- Reviews incoming expenses for invoices or additional fees for accuracy and investor compliance.
- Maintains a thorough working knowledge of all State, Federal, County and City requirements and regulations. Attends training sessions as required.
- Performs such other duties as may be assigned by Consumer Collection Management.
- Works with and monitors attorneys to expedite loans through the foreclosure, judgment, claim and delivery and writ of possession processes.
- Completes timely processing of all activities and emails with responsiveness to ensure foreclosure and legal timeline is met.
- Works with attorneys on litigation and contested foreclosure matters.
- Processes sale proceeds, insurance claims, settlement payments and judgment payments.
Knowledge, Skills and Abilities
- Must have extensive knowledge of the foreclosure and legal process and workflows.
- Must have knowledge of FHA, GNMA, FNMA, FHLMC, VA, USDA and various other investors/insurers
- Must have sound knowledge of investor and insurer guidelines
- Must possess excellent oral and written communication skills
- Must be goal-oriented and able to work independently
- Must have sound business decision making skills
- Must be able to work under pressure
- Must be proficient in MS Excel, MS Word and Adobe
- Must possess strong analytical skills and attention to detail
- Knowledge of Temenos and FICS preferred
Physical Requirements
- Occasional standing, walking, bending and stooping required
- Must be able to moderately lift or move up to 5 pounds and occasionally lift or move up to 10 pounds
Education and Background
- 3+ years’ experience in real estate and/or foreclosure required
- 3+ years’ experience in foreclosure and legal writ of possession process required
- 2+ years’ experience as a GSE working investor required
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