MYCUMORTGAGE IS HIRING A MORTGAGE SERVICING DEFAULT SPECIALIST II FOR OUR CORPORATE OFFICE IN BEAVERCREEK, OHIO.

MYCUMORTGAGE IS A LEADING CREDIT UNION SERVICE ORGANIZATION (CUSO) ASSISTING CREDIT UNIONS ACROSS THE COUNTRY WITH HELPING THEIR MEMBERS BECOME HOME OWNERS. RECOGNIZED INDUSTRY-WIDE FOR ITS DEFINITIVE FOCUS ON PARTNER CREDIT UNIONS, MYCUMORTGAGE OFFERS QUALITY, COST-EFFICIENT, SERVICE-DRIVEN MORTGAGE SOLUTIONS ALONG WITH, MOST IMPORTANTLY, TRUE PARTNERSHIP AND SUPERIOR SERVICE IN A TEAM-DRIVEN ENVIRONMENT.

THIS POSITION HAS THE SAME BASIC FUNCTION OF A DEFAULT SPECIALIST I EXCEPT THE LOANS ASSIGNED ARE ESCALATED, NEED MORE SENSITIVITY, HAVE HIGHER FINANCIAL RISK, OR REQUIRE MORE EXTENSIVE SUBJECT MATTER EXPERTISE. THIS POSITION IS RESPONSIBLE FOR MENTORING AND ON THE JOB TRAINING OF THE DEFAULT SPECIALIST I. THIS POSITION ALSO ASSISTS THE DEFAULT ANALYST, MANAGERS, AND DIRECTOR WITH ROOT CAUSE ANALYSIS OF INTERNAL AND EXTERNAL AUDIT FINDINGS.

Major activities will vary depending on area of specialty.

COLLECTIONS

1. Contacts members with mortgage loans by phone, mail or email to determine reasons for delinquency and to apply company and industry regulations, federal, state, agency, and accepted collection techniques to bring accounts current. Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed.  Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated. (25%)
2. Educates members / partners on all workout options for mortgage loans that are delinquent, in order to bring the loan current, following investor, insurer, and guarantor collection / loss mitigation guidelines. (25%)
3. Coordinates the default responses for customer complaints, quality control audits, and internal and external audits. Also researches and determines root cause of those complaints, defects and findings and develops and implements action plans and controls to prevent the recurrence of the issues. (15%)
4. Assists in training other staff members. (15%)
5. Establishes repayment plans/promises and track plans/promises to confirm adherence to the agreement. (15%)
6. Interprets and documents information from various sources within the company’s servicing system in accordance with federal, state, investor, insurer, and guarantor guidelines. (5%)

LOSS MITIGATION

1. Corresponds with members verbally and/or in writing to obtain financial information and documentation on delinquent loans and to discuss loss mitigation options. Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed.  Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated. (25%)
2. Analyzes members’ financial information and loan demographics and determines whether foreclosure avoidance options are feasible based on investor, insurer, and guarantor guidelines. (25%)
3. Monitors member obligations such as making trial plan payments or getting the home in broom swept condition and then prepares documents necessary such as modification or deed in lieu agreements to avoid the foreclosure actions.   (15%)
4. Coordinates the default responses for customer complaints, quality control audits, and internal and external audits. Also researches and determines root cause of those complaints, defects and findings and develops and implements action plans and controls to prevent the recurrence of the issues. (10%)
5. Assists in training other staff members. (10%)
6. Corresponds verbally and/or in writing with members and investors, insurers, and guarantors the current statuses, decisions, timelines, and member obligations. (10%)
7. Updates MSP system with status and interface with other servicing departments regarding status of the loan. (5%)

FORECLOSURE

1. Monitors of accounts and attorney performance during the foreclosure process to ensure all timelines have been met by the attorneys representing myCUmortgage. Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed.  Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated. (25%)
2. Ensures all new foreclosures are set up properly on the servicing system. (15%)
3. Provides upon request the attorney with accurate foreclosure figures, including reinstatement, payoff, and assumption figures which will be provided to external parties by the attorney. In addition, provide the attorney with accurately executed documents as requested. (15%)
4. Manages foreclosure proceedings on assigned cases by interacting and instructing various parties such as mortgagors, attorneys, investors, insurers, realtors, appraisers and any other party involved with the foreclosure. (15%)
5. Prepares bidding instructions and processes all foreclosure sale results, ensuring compliance with investor, insurer, and guarantor guidelines. (15%
6. Coordinates the default responses for customer complaints, quality control audits, and internal and external audits. Also researches and determines root cause of those complaints, defects and findings and develops and implements action plans and controls to prevent the recurrence of the issues. (10%)
7. Assists in training other staff members. (5%)

BANKRUPTCY

1. Ensures new bankruptcy filings are set up properly on the servicing system. Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed.  Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated. (20%)
2. Performs Plan Reviews and prepares and files accurate proof of claims on Chapter 13 and all Chapter 7 Asset cases with the bankruptcy districts. (15%)
3. Monitors accounts during the bankruptcy process to ensure all documents have been received by the bankruptcy districts and the proper application of all payments received for Pre and Post-petition payments. (15%)
4. Orders escrow analysis to prepare Payment Change Notice on all Chapter 13 cases. (10%)
5. Works with attorneys to prepare payment histories and Motion for Relief documents along with all requests for bankruptcy related documents. (10%)
6. Coordinates the default responses for customer complaints, quality control audits, and internal and external audits. Also researches and determines root cause of those complaints, defects and findings and develops and implements action plans and controls to prevent the recurrence of the issues. (10%)
7. Assists in training other staff members. (10%)
8. Performs final review of all cases prior to removing from bankruptcy status which includes reconciling with Trustee’s ledger and Final Notice of Cure document returned to bankruptcy district Trustee in the allotted timeframe. (5%)
9. Coordinates with members going through the bankruptcy process who are interested in reaffirmation of their debt. (5%)

PROPERTY PRESERVATION

1. Manages vacant and owned properties to ensure properties are secure and winterized (as applicable). Manage and approve utilities on REO properties. Notify hazard insurance department that vacancy coverage is needed. Coordinate with vendor to obtain investor approval for and authorize the work. Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed.  Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated.    (20%)
2. Refers REO properties that are newly acquired (as a result of Foreclosure of Deed in Lieu of Foreclosure) to the national REO vendor, and coordinate the listing and sale of each REO property. Direct application of sales proceeds, and notify relevant departments of each sale. (20%)
3. Provides investor with a final accounting of profit or loss on each REO property after final sales proceeds and any claim proceeds have been received. Request company charge-off if indicated. (20%)
4. Orders property inspections on every mortgage that is more than 30 days past due (including Foreclosures) and Real Estate Owned (REO) by virtue of a Foreclosure. Receive inspection results and ensure that they are properly recorded in the servicing system (MSP). (10%)
5. Interacts and coordinates with internal departments at least monthly to provide status of property, as well as with partner credit unions, investors, and attorneys, and as changes occur with the property status that could affect the process of servicing the Default or REO disposition. (10%)
6. Reviews and recommends approval for vendor invoices for property inspection and preservation or restoration work. (5%)
7. Updates MSP system with status and interface with other servicing departments regarding status of the loan. (5%)
8. Coordinates the default responses for customer complaints, quality control audits, and internal and external audits. Also researches and determines root cause of those complaints, defects and findings and develops and implements action plans and controls to prevent the recurrence of the issues. (5%)
9. Assists in training other staff members. (5%)

CLAIMS

1. Prepares and file all investor, insurer, and guarantor claims timely and accurately according to investor / insurer guidelines and requirements. Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed.  Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated. (35%)
2. Performs final review of all cases and reconciles the claim money received versus with loan information and all bills and expenses. Produces the final loss analysis of the account upon completion of all claim activity. (20%)
3. Processes all default related invoices and ensures the expenses are booked to the appropriate member recoverable, third party recoverable, or non-recoverable accounts. (15%)
4. Coordinates the default responses for customer complaints, quality control audits, and internal and external audits. Also researches and determines root cause of those complaints, defects and findings and develops and implements action plans and controls to prevent the recurrence of the issues. (10%)
5. Assists in training other staff members. (5%)
6. Gathers and review all loan documentation, ledger activity and timelines for each claim prior to filing. (5%)
7. Prepares and file supplemental claims as needed. (5%)
8. Audits all loss mitigation and foreclosure expenses that are to be included in foreclosure reinstatements, loss mitigation repayment plans, and loss mitigation modifications. (5%)

Required Skills

1. High school diploma required; College degree preferred
2. Understanding of the applicable laws and regulations pertaining to mortgage default servicing with specialization in collection, loss mitigation, foreclosure, bankruptcy, property preservation, claims or real-estate owned loans
3. Understanding of servicing guidelines for Fannie Mar, Freddie Mac, Ginnie Mae, FHA, USDA, VA, Federal Home Loan Bank and other investors, insurers, and guarantors
4. At least 2 – 5 years’ experience in mortgage default servicing functions.
5. Excellent oral and written communication skills are required.
6. Strong organizational and follow up skills are required.
7. Ability to learn complex or sophisticated concepts and apply them appropriately is required.
8. Prior experience with mortgage default servicing using MSP is preferred.

Required Experience

1. High school diploma required; College degree preferred
2. Understanding of the applicable laws and regulations pertaining to mortgage default servicing with specialization in collection, loss mitigation, foreclosure, bankruptcy, property preservation, claims or real-estate owned loans
3. Understanding of servicing guidelines for Fannie Mar, Freddie Mac, Ginnie Mae, FHA, USDA, VA, Federal Home Loan Bank and other investors, insurers, and guarantors
4. At least 2 – 5 years’ experience in mortgage default servicing functions.
5. Excellent oral and written communication skills are required.
6. Strong organizational and follow up skills are required.
7. Ability to learn complex or sophisticated concepts and apply them appropriately is required.
8. Prior experience with mortgage default servicing using MSP is preferred.