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Default Compliance Specialist I

City: Ewing
State/Territory: US-NJ

Description

Who is Cenlar?

 

You are.

 

Employee-owners have made Cenlar one of the nation’s largest mortgage subservicers. We have achieved success by empowering people with company ownership, real programs that provide avenues for advancement, and a great atmosphere that makes everyone look forward to the workday. Get your share of our success by considering the opportunity to join our team as a Default Compliance Specialist.

Job Summary:

Ensures compliance with all federal, state, investor, insurer, and client policies, procedures and guidelines prior to the referral of foreclosure.  Conducts a thorough review of each delinquent loan to confirm all state and servicing pre-requisites were comported with in order to avoid significant monetary loss and audit findings.

Responsibilities:

  • Conducts compliance review on all loans 90+ days delinquent for foreclosure referral for federal, state, and applicable investor requirements.
  • Ensures and verifies all breach/demand letters and all other applicable delinquent letters are generated and mailed timely and accurately according to state, Investor, Client, and Cenlar procedures and guidelines.
  • Reviews and assesses origination documents to confirm chain of assignments/allonges and titles.
  • Identifies possible payment or servicing disputes that could adversely affect the acceleration process and look to provide a resolution before referral.
  • Manages and ensures loans with a principal balance of $10,000.00 or under are not placed in foreclosure without attempting to charge off.
  • Reviews client reporting to confirm all stipulations were satisfied if applicable.
  • Meets referral deadlines and accurately places the correct codes in the system to reflect the progression of the review and approval process.
  • Reviews and validates chain of title from origination documents
  • Measures and ensures vendor(s) are comporting with contractual obligations
  • Identifies referral trends and look for process improvement to expedite the referrals.
  • Performs specific equity analysis calculations which may vary on 1st lien, HELOC and Junior liens for equity and charge off or foreclosure placement

 

Qualifications:

  • College degree preferred
  • 2 - 3 years default experience in a mortgage banking environment preferred
  • Origination or title experience desired
  • Legal, Compliance, paralegal or transferable skills preferred
  • Excellent communication/organization skills (verbal and written)
  • Excellent analytical, math and problem resolution skills
  • Strong ability to successfully manage multiple priorities
  • Ability to ascertain equity by performing different equity analysis calculations
  • Strong MS Word and Excel skills
  • Knowledge of Freddie Mac, Fannie Mae, HUD, and VA default  requirements

 

Total Rewards:

Cenlar FSB offers outstanding benefits which may include paid medical/dental/life insurance, 401k, employee ownership, tuition assistance, a supportive work environment, and genuine opportunities for advancement. Cenlar is a Drug Free Workplace and an Equal Employment Opportunity/Affirmative Action Employer -- M/F/D/V/SO.

 

Visit www.cenlar.com for more details.

 

Please apply online.





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