Foreclosure Specialist

Guild Mortgage Company
, closing loans and opening doors since 1960. As a mortgage banking firm, we are dedicated to serving the homeowner/buyer. Our goal is to provide affordable home financing for our customers, utilizing the best terms available while providing a level of professionalism and service unsurpassed in the lending industry.

Position Summary

The Foreclosure Specialist plays an important role in the organization by performing a number of activities related to the company’s Foreclosure functions. The role is primarily responsible, under general supervision, for processing foreclosures of properties when buyers go into default related to their area(s) of specialization (VA, conventional/FHA, Fannie Mae or Freddie Mac). The Foreclosure Specialist monitors and processes judicial and non-judicial foreclosure proceedings after a loan is approved /referred for foreclosure;

ensures first legal action is properly initiated and reported in accordance with investor guidelines, prepares documents/deeds for execution, and creates judgment figures for judicial foreclosures. This position will handle all after-sale tasks according to investor guidelines, including monitoring all eviction and property preservation/conveyance processes, prepare and submit conveyance and title packages; as well as obtain receipt of payments, prepare claims packages within required time frames and submitting information to Quality Control for review and approval.

This role will also follow up on insurance, regulatory agencies, and investor claims in accordance with investor/insurer guidelines and applicable state and federal foreclosure requirements and update the internal system to ensure a record of steps, deadlines, and notices are documented.

Compensation

This role is a non-exempt position with a Targeted Salary Range of $23/hr to $31/hr.

Compensation at Guild is influenced by a wide array of factors including but not limited to local and federal minimum wage requirements, education, level of experience, and applicant’s geographical location.

Essential Functions

• Provide copy of default notice to investor and mortgage insurance carrier.
• Monitor file in accordance with required notification periods and issue notice of sale once timeline is satisfied.
• Prepare documents and deeds to be executed and create figures for judicial foreclosures.
• Refer borrowers for loan counseling if a short sale, loss mitigation, or payment is requested.
• Process postponements, reinstatement requests and judgments.
• Prepare bid instructions and obtain required approvals to place home for sale.
• Report sale information to investor and mortgage insurance carrier and verify insurance is assigned or cancelled.
• Perform internet research to identify utilities and HOAs; make payments and transfer accounts
• Review and approve invoices; request checks for payment to reimburse foreclosure fees and costs.
• Prepare/review documents and deeds to be executed. Make photocopies and electronically file documents. Provide copies of documents and correspondence when requested.
• Refer eviction files to attorneys and monitors occupied properties after sale until eviction is completed and/or property becomes vacant. Ensure eviction–related legal action is initiated and reported in accordance with investor guidelines.
• Work with property preservation companies to place vacant properties in conveyance condition (ICC) and ensure deed is recorded.
• Request Tax Certifications on ICC properties.
• Prepare conveyance and title packages and submit to Quality Control for review, approval and submission to FHA for payment.
• Submit curtailment requests to property preservation companies if it is determined they were responsible for any property preservation delays.
• Review, monitor, and adjust escrow accounts.
• Gather receipts for property preservation, foreclosure fee costs, escrow advances and refunds to prepare claim submission to Quality Control.
• Ensure all claims and supporting documents are uploaded into document retention system.
• Process insurance refunds and submit for deposit.
• Prepare supplemental claims for items not included in original claim; obtain reimbursement of estimated insurance refund…