Foreclosure Specialist III

Overview

This position monitors and oversees the foreclosure process for loans assigned to team members to help ensure foreclosures remain on track with investor guidelines. The role provides subject matter expertise to the team, manages escalated issues, and handles a portfolio of loans involved in complex litigation—protecting the organization’s interest in the related mortgaged property. The position also performs high-risk administrative functions related to the foreclosure process.

Responsibilities

• Monitor foreclosure progress through queues and reporting, ensuring team members effectively manage their portfolios and remain compliant with state/federal and investor guidelines.
• Coordinate with foreclosure attorneys, outside counsel, and/or in-house counsel to resolve disputes involving property where the organization and/or its investors have an interest.
• Serve as the primary escalation contact for team associates, attorneys, and other departments.
• Ensure FHA 1st legal deadlines are met once the loan is referred to foreclosure, including filing and tracking any necessary extension requests.
• Research, validate, and update loans appearing on various foreclosure exception reports, including No Dual Track, clean up, and investor timeline reports.
• Approve additional attorney fees beyond associate-level approval limits and maintain tracking and reporting of legal expenses on litigation files outside of the foreclosure action.
• Conduct quality control (QC) review and approve investor bidding instructions, ensuring adherence to investor/MI guidelines.
• Perform regular “side by sides” with team members to discuss loan-level issues and procedures.
• Review all assigned loans at least every 30 days, including updating documentation and completing follow-up.
• Ensure compliance with federal, state, regulatory, and investor guidelines related to foreclosure.
• Partner with management to revise, update, and implement procedure changes; create new procedures as needed.
• Gather departmental information and assemble materials for regular investor, regulatory, and internal meetings.
• Adhere to applicable compliance and operational risk controls in accordance with company or regulatory standards and policies.
• Maintain internal control standards, including timely implementation of internal and external audit points and addressing issues raised by external regulators as applicable.
• Complete other related duties as assigned.

Scope of Responsibilities

• Interact with CAM management and external third-party foreclosure attorneys to support successful and timely foreclosure completion in line with investor guidelines and regulatory requirements.

Requirements

• A combined 4 years’ higher education and/or work experience, including a minimum of 2 years’ Default Servicing related field experience (e.g., Collections, REO, Loss Mitigation).
• Working knowledge of word processing and spreadsheet software.
• Strong written and verbal communication skills.
• Detail oriented.
• Strong analytical and problem solving skills.
• Ability to work effectively in a team environment.

Preferred Qualifications

• 3 years’ Default Servicing related field experience (e.g., Collections, REO, Loss Mitigation).
• Proven leadership ability.
• Knowledge of bank and departmental systems.
• Understanding of mortgage products, including home equity loans and lines of credit, including general operation and systemic functions such as payment allocation and escrow.
• Experience training new staff and implementing procedures and process changes.

Compensation & Benefits

• Pay range: $22.61 - $37.67 Hourly (USD)
• Final compensation will be based on the successful candidate’s combination of knowledge, skills, and experience.

Location

Clanton, Alabama, United States of America