The Senior Foreclosure Analyst oversees and ensures that the Foreclosure (“Functional Area”) default servicing functions performed by the third party servicer(s) meet contractual obligations, investor guidelines, regulatory and legal requirements and follow generally accepted servicing practices. Also insures the Functional Area processes are completed within GSE and insurer timeframes while meeting all regulatory and compliance requirements in an effort to decrease compensatory fees. This role requires in depth knowledge of the Functional Area processes and all associated investor and regulatory guidelines. Further, this position requires interaction with vendor personnel and management, Flagstar personnel and management, mortgagors, regulators, investors, insurers and attorneys.
Responsible for understanding, overseeing and, as required, effecting change to, third party servicers’ underlying process(es) to ensure compliance with/adherence to applicable contractual obligations, investor guidelines, regulatory and legal requirements, and Default Servicing Vendor standards.
Ownership of system process development and coordination of system issue resolution
Understand, manage, and where applicable, perform necessary primary work associated within Functional Area when it cannot be performed by third party vendor in existing model
Staying abreast of all Functional Area regulatory, state, and investor/insurer requirements impacting default oversight operations.
Supporting the management and continued enhancement of default servicing testing plans, standards, and policies and procedures for compliance with regulatory, investor/insurer requirements.
Represents the Functional Area, owns responses and responsiveness to internal risk partners (quality control, risk, compliance, and internal audit), internal business partners (e.g. Customer Engagement Center), external partners (investors/insurers), and other external partners (e.g. MSR owners)
Demonstrates a high level of creativity and critical thinking to address problems decisively and develop effective solutions. Reinforces culture of shared ownership and accountability for results.
Collaborating with other default servicing teams, and other internal teams, to assist in the continued development of a best in class default servicing oversight operation.
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar’s internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
Reliable Home High Speed Internet Connection Required
HS Diploma, GED or Foreign Equivalent Required
Bachelor’s degree in a related field is strongly desired. Business Administration, Finance, Accounting, or related OR 3 years Comparable Work Experience
Experience with Mortgage Loan Servicing, Foreclosure, Eviction and Loss Mitigation preferred
Minimum of 5 -7 years Banking or Mortgage Experience required, with a minimum of 3 years Foreclosure experience.
Minimum 3 years extensive knowledge of the mortgage servicing and default systems, IE. Black Knight systems, Loansphere, MSP.
Strong problem solving & strategic thinking skills with the ability to identify problems and recommend solutions
Exceptional written and oral communication including facilitation & summarization skills to drive action and results
Must be highly organized and have a strong attention to detail including the ability to create and maintain documentation
Have an innate ability to understand very complex processes and systems, immediately and intuitively understanding how they work and how they can be improved
Adjusts positively to quickly-changing priorities and shifting goals
Ability to interact professionally with a diverse group: executives, managers, vendors, and investors
Strong ability to work with a sense of urgency in a fast pace environment
Ability to monitor and quality control of LPS Desktop work groups, holds and tasks.
Experience with Mortgage Servicing Software (including MSP and LPS Desktop)
Strong analytical and technical skills including Excel.
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