Default Risk 9/3/2016
JOB DESCRIPTIONAPPLY A Default Risk Assistant, performs routine administrative functions in support of assigned default risk area: Loss Mitigation, PreForeclosure, Foreclosure, Property Preservation, REO, or Short Sale. Prepares documents, reviews loan files for completeness, monitors receipt of executed documents, and follows up on outstanding documentation or requests. Completes all necessary system maintenance ensuring data integrity of applicable systems.
Completes initial review of completed packages received to determine if all required documentation is included, initiates initial follow up with borrowers and/or external third parties regarding any missing documentation. Ensures required approvals from investors, insurers and senior management have been obtained. Enters, retrieves and monitors data into loan system, ensuring its integrity. Coordinates all requests received for workout assistance and routes to appropriate parties, ensuring that required packages are sent to borrowers in a timely manner. Monitors timely receipt of required payments; initiates borrower contact as necessary for delinquent payments. Validates loan information on system with documents in the loan file and reporting sources. Generates all required legal documents necessary to complete a workout, forwards documents to appropriate parties and monitors for receipt of executed documents.
EDUCATION AND EXPERIENCE
High school diploma or equivalent. Minimum one year mortgage banking, loan servicing, or default risk management support experience.
KNOWLEDGE, SKILLS AND ABILITIES
Knowledge of real estate and mortgage loan documentation and terminology used in assigned area. Basic knowledge of Fannie Mae, Freddie Mac, FHA, VA,, private investor guidelines, Fair Debt Collection Practices and/or other regulatory guidelines applicable to assigned area. Computer literate with basic proficiency in internet navigation, word processing, spreadsheet and database applications.