Space Coast Credit Union is seeking an experienced Mortgage Workout Specialist to research and identify members facing financial hardships which may effect or are affecting their ability to meet their mortgage payment obligations. The qualified applicant will recommend options for reducing financial loss including: repayment plans, forbearance plans and loan modifications.
Responsibilities include but are not limited to:
- Attempts contact with delinquent mortgage members and makes payment arrangements with credit union members to resolve delinquent accounts.
- Interviews delinquent and non-delinquent members to fully understand their financial hardship. Based on the interview enters a hardship application in the Encompass system for evaluation.
- Evaluates and proposes a sound work out solution to the Loss Mitigation Manager.
- Submits modification requests to PMI carriers, follows up timely and obtains approvals for modification requests according to PMI guidelines.
- Submits modification requests to Investors such as FNMA and FHLMC and obtains approvals for modification requests according to each investors guidelines and procedures.
- Orders an owner and encumbrance report from Fiserv and verifies all junior and senior liens on the property and protects SCCU’s lien position.
- Orders BPO/AVMs on all modified first mortgages and determines current market value.
- Prepares all mortgage modification documents accurately and in a timely manner.
- Coordinates a closing date for the member to sign the modification agreement and follows through to ensure documents are executed, processed, and filed.
- Ensures that all work is documented using the correct action and response codes the day the action occurs, to maintain accurate records on mortgages in the modification queue.
- Ensures that future follow-up dates are maintained.
3 - 5 years real estate lending and and/or mortgage modification/loss mitigation experience required
Excellent written and verbal communication skills
Demonstrated understanding of the fair debt collection practices act.
Thorough knowledge of Real Estate lending including FNMA, RESPA and mortgage insurance programs
Knowledge of Florida Statutes governing collection/probate practices.
Knowledge of Bankruptcy practices.
Ability to organize, prioritize and perform multiple job tasks simultaneously.
Ability to work independently with minimal supervision.
High School plus additional course work in areas such as financial services, collections, consumer or mortgage lending, foreclosures, mortgage loan workout.
Space Coast Credit Union - 18 months ago
Space Coast Credit Union (SCCU) is a member-owned cooperative with nearly 65 branches in the Sunshine State. Membership is open to all who...