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Default Servicing Specialist - Foreclosure

Company: First Horizon Bank
Location: Knoxville
Posted on: October 11, 2021

Job Description:

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 complex.

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 applications
  • Complete all related system maintenance
  • Preparation and filing of probate claims
  • Work directly with outside counsel as needed to handle related litigation
  • Monitor an assigned portfolio of severely delinquent or imminent default loans through the foreclosure or deed in lieu processes.
  • 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 following:
  • 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 loans
  • 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 process.
  • Understanding of industry regulations and compliance practices
  • 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 screens.
  • Recognition of varying pre-foreclosure demand requirements by state.
  • Appropriately crediting account with foreclosure sale proceeds.
  • 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

Abilities:

  • Customer Centric focus (and) goodwill servicing practices.
  • Ability to analyze and make decision for complex foreclosure situations.
  • 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 decisions.
  • Ability to manage multiple and/or conflicting responsibilities.
  • Ability to promote the appropriate company image and maintain a professional attitude.
  • Ability to work independently and without direct supervision.

Skills:

  • Exceptional organizational (time management) skills
  • Strong verbal and written communication skills
  • Problem solving skills
  • Attention to detail and ability to identify potential issues

Education and/or Work Experience Requirements:

  • High School Diploma is required; Bachelor’s Degree is preferred
  • 3-5 years of work experience related to default servicing is required

 HOURS:

Monday - Friday 8:00 am - 4:30 pm

 

#INDLD

 

 

 

Keywords: First Horizon Bank, Knoxville , Default Servicing Specialist - Foreclosure, Other , Knoxville, Tennessee

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