Default Servicing Specialist - Foreclosure
Company: First Horizon Bank
Posted on: October 11, 2021
The Default Servicing Specialist role is responsible for
monitoring and maintaining an assigned portfolio of accounts where
the borrower(s) is deceased. This role is also responsible for
monitoring and maintaining an assigned portfolio of severely
delinquent or imminent default loans through the foreclosure or
deed in lieu processes. In addition, the Default Servicing
Specialist can handle short sales/settlement on real estate
accounts as well. The ideal candidate has default servicing
experience, is very detail oriented and views their work as their
self-portrait. A high level of decision-making skills as well
as knowledge of general collections practices in regard to
appropriate telephone etiquette and security procedures. The
Default Servicing Specialist exercises excellent judgment in
performance of tasks that are both varied and moderately
We are seeking a dedicated, disciplined individual who excels in
a team environment, who takes ownership and who is enthusiastic
about a job well done.
Essential Duties and Responsibilities:
- Confirm customers are deceased via review of relevant
- Complete all related system maintenance
- Preparation and filing of probate claims
- Work directly with outside counsel as needed to handle related
- Monitor an assigned portfolio of severely delinquent or
imminent default loans through the foreclosure or deed in lieu
- Responsible for communicating with customer/borrower, estate
representative, vendor(s), various third parties and/or attorney
with accurate information pertaining to, but not limited to, the
- Appropriate authorization when applicable
- Loan payment histories and default information.
- Loan origination documentation.
- A good understanding of all First Horizon products to include
DDA, credit cards, installment loans, HELOCs and real estate
- Analysis of internal reports, and/or vendor-generated reporting
in a timely manner
- Administrative duties including preparation and filing of
probate claims when (s) meet the criteria
- System maintenance on accounts
- Review of foreclosure legal documentation for accuracy and
approving same for filing.
- Review of title reports and facilitation of title curative work
necessary to obtain clear title through the foreclosure
- Understanding of industry regulations and compliance
- Preparation of and coordination of loss mitigation completion
of pre-foreclosure checklists to ensure regulatory compliance.
- Preparation of foreclosure bid recommendations.
- Facilitation of payment plan options with borrowers when
traditional loss mitigation options are not available.
- Recognition of FFIEC charge off regulations and assurance that
valuations/equity analyses and necessary write downs are completed
within compliance for serviced portfolio.
- Appropriately updating servicing systems to include legal
coding, statements, late fees, and credit bureau reporting
- Recognition of varying pre-foreclosure demand requirements by
- Appropriately crediting account with foreclosure sale
- Determining appropriate book amount and completing necessary
documentation to book purchased collateral into ORE.
- Working with sub-servicer to ensure compliant foreclosures of
sub-serviced mortgage loans
- Customer Centric focus (and) goodwill servicing practices.
- Ability to analyze and make decision for complex foreclosure
- Knowledge of consumer banking, mortgage loans, credit bureaus,
real estate, appraisal, and title reports.
- Act as an effective team player.
- Ability to work under pressure and meet deadlines.
- Ability to evaluate situations and make appropriate business
- Ability to manage multiple and/or conflicting
- Ability to promote the appropriate company image and maintain a
- Ability to work independently and without direct
- Exceptional organizational (time management) skills
- Strong verbal and written communication skills
- Problem solving skills
- Attention to detail and ability to identify potential
Education and/or Work Experience
- High School Diploma is required; Bachelor’s Degree is
- 3-5 years of work experience related to default servicing is
Monday - Friday 8:00 am - 4:30 pm
Keywords: First Horizon Bank, Knoxville , Default Servicing Specialist - Foreclosure, Other , Knoxville, Tennessee
Didn't find what you're looking for? Search again!