Mortgage Default Specialist
Company: Cadence Bank N.A.
Posted on: April 19, 2019
The Mortgage Default Specialist is responsible for credit quality
administration, including collection activities, loss mitigation
activities, Successor in Interest communications and verifications,
delinquency reporting, unapplied funds reconciliation, and making
recommendations regarding collection issues for mortgage and
Serviced by Others (SBO) loan portfolios. Responsibilities include
the handling of FHA/MI delinquency reporting, FHA/MI Claim
reporting and filing. Assist with bankruptcy, foreclosure and loss
mitigation loans as needed.
To perform this job successfully, an individual must perform each
essential duty. The requirements listed herein are representative
of the knowledge, skills, and/or abilities required.
* Minimum age 18
* Qualify to be bonded
* Meet testing requirements and hiring standards
* High school diploma or equivalent
* Bachelor's degree preferred or equivalent experience/skills
* Minimum experience of 3-5 years in mortgage, consumer and loan
collections, with exposure to foreclosure, repossession, probate,
bankruptcy and other legal processes. Experience in servicing and
claims processing of FHA loans.
* Thorough knowledge of FHA and VA servicing, collection and claim
* Thorough knowledge of Fair Debt Collection Practices Act
* Working knowledge of bankruptcy, foreclosure and loss mitigation
laws and regulatory requirements.
* Knowledge of banking practices and procedures
* Working knowledge of federal, state and investor requirements
* Excellent proficiency and knowledge of word processing and
* Exceptional communication and organizational skills
* Ability to independently reach sound conclusions and resolve
issues related to delinquent loans, repayment plans, loss
mitigation and make recommendations to management.
* Ability to work with others and be a team player
* Must be a self-starter and self-motivated
* Able to work with little supervision Physical Demands:
The physical demands described here are representative of those
that must be met by an employee to successfully perform the
essential functions of this job. Reasonable accommodations may be
made to enable individuals with disabilities to perform the
essential functions. Specific requirements include:
* Ability to stand; walk; sit; move about; use hands to finger,
handle, or feel; reach with hands and arms; talk or hear; write
legibly, and lift objects weighing as much as ten pounds to a
distance of twenty feet
* Ability to hear sounds accurately to eliminate miscommunications
* Ability to feel texture and thickness of paper to quickly process
large volumes of output
* Ability to see accurately (20/40 with correction) to eliminate
* Direct activities for all loan serviced portfolios to include,
collection of past dues, collection letters, handling of matured or
maturing loans and aid with bankruptcy, foreclosure and loss
mitigation in accordance with established policies and procedures
to minimize loss risk to the Bank.
* Repayment plan follow up with borrowers to ensure paying as
agreed and confirm payment postings in accordance with the
* Review loans for potential loss mitigation according to investor
and guarantor guidelines and discuss options
MAJOR JOB RESPONSIBILITIES:
options with borrowers
* Complete monthly delinquency reporting to Mortgage Insurance
* Complete monthly delinquency reporting to FHA per FHA
* Complete all FHA/VA/MI functions including claims processing
* Control collection activities of SBO to ensure compliance with
the servicing agreement.
* Control as primary liaison to credit reporting agencies and other
vendors on matters relating to credit quality.
* Handle E-Oscar notifications, credit disputes and customer
complaints as received
* Handle Successor in Interest package receipt and response
* Review the Unapplied Report for necessary action and provide
instructions as needed
* Control and monitors all bankruptcy, foreclosure, probate and
repossession files, to ensure compliance with internal
* Provide management reporting on all accounts 30+ days past
* Charge off processing to be completed monthly
* Report monthly the status of all loan serviced portfolios
regarding delinquencies and credit quality issues, including
recommendations for changes in policies or procedures, as
* Serve as liaison and interface with other bank departments to
resolve issues and satisfy requests.
* Ensure accurate record of all collection actions on loan and
provide regular reporting to management.
* Escalate problem accounts to senior management immediately if
indication for potential for loss is determined.
* Assist other Loan Servicing staff as needed.
* Other duties as assigned by management
The above statements are intended to describe the general nature
and level of the work being performed by people assigned to this
work. This is not an exhaustive list of all duties and
responsibilities. Cadence Management reserves the right to amend
and change responsibilities to meet business and organizational
needs as necessary. Cadence Bank is an affirmative action/equal
opportunity employer. All qualified applicants will receive
consideration for employment without regard to race, religion,
color, national origin, sex, age, status as a protected veteran,
among other things, or status as a qualified individual with
Keywords: Cadence Bank N.A., Birmingham , Mortgage Default Specialist, Other , Birmingham, Alabama
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